Global Data Integrity Check and Document Updates: Puerto Rico

ConformX supports the Puerto Rico Uniform Instruments posted by FNMA/FHLMC. Several updates have been made to these documents.

Puerto Rico FNMA/FHLMC Security Instrument and Riders

The Puerto Rico security instrument and riders have been updated to use Spanish/English labeling in special borrower signature lines:

• • 3053 PR Mortgage 2021 (Cx25331)
  • 3140.53 PR Condo Rider 2021 (Cx25438)
  • 3150.53 PR PUD Rider 2021 (Cx25443)
  • 3170.53 PR 1-4 Family Rider 2021 (Cx25447)
  • 3890.53 PR Second Home Rider 2021 (Cx25450)
  • 3142.53 PR 5/6, 7/6, 10/6 SOFR ARM Rider 2021 (Cx25465)

The standard English-only security instrument signature lines will print on these documents if any of the following scenarios apply:

• • Power of Attorney
  • Trust
  • Corporate Signature
  • Non-Person Entity
  • Designated Signer
  • Over four Borrowers
  • Non-Purchasing Entity

In addition to printing the signature lines described above, 3053 PR Mortgage 2021 (Cx25331) has also been updated to support the following security instrument coding enhancements:

• • Print special USDA/Rural Development leasehold text in both English and Spanish in definition “d. Leasehold Terms.” and the “Fifth” section when applicable.
  • Print Full Security Instrument Borrower Definition Mailing Address (FI 152399) for the borrower residence in the “Seventh” section if it is filled in, otherwise print Borrower Full Mailing Address (FI 15295) by default.
  • Print Beneficiary/Lender on Security Instrument Name (FI 294) for the Lender the “Eighth” section if it is filled in, otherwise print Lender Name and Extension (FI 15360).
  • Print Beneficiary/Lender on Security Instrument Full Address (FI 15290) for the Lender address in the “Eighth” section if it is filled in, otherwise print Lender Address (Full)(FI 15357).
  • Print Security Instrument Names and Capacities (FI 1816) and Security Instrument Notary Identification Produced (FI 137250) above the notary signature section near the end of the document if they have a value, otherwise rows of empty space will be included in the document for the information to be added manually.

The Puerto Rico recordable documents including 3053.1 PR Acceptance of First Mortgage 2021 (Cx25332) now also support printing the ULI under the document title when Print Universal Loan Identifier (ULI) on Recordable Docs (FI 154824) is set to “Yes”.

The Puerto Rico riders and acceptance of first mortgage form now also support printing the PIN under the document title when Print Parcel Number on Security Instrument Riders (FI 122651) is set to “Yes”.

Puerto Rico FNMA/FHLMC Notes and ARM Riders

The Puerto Rico notes have been updated to use Spanish/English labeling in special borrower signature lines:

• • 3253 PR Fixed Rate Note 2021 (Cx25457)
  • 3442.53 PR 5/6, 7/6, 10/6 SOFR ARM Note 2021 (Cx25464)

The standard English-only note signature lines will print on these documents if any of the following scenarios apply:

• • Power of Attorney
  • Trust
  • Corporate Signature
  • Non-Person Entity
  • Designated Signer
  • Over four Borrowers

The Puerto Rico notes now also support printing the ULI under the document title when Print Universal Loan Identifier (ULI) on Note (FI 154823) is set to “Yes”.

The existing ARM note and rider text has been updated in ConformX for Puerto Rico 5/6, 7/6, and 10/6 SOFR loans to match the current FNMA/FHLMC Uniform Instruments:

• • 3442.53 PR 5/6, 7/6, 10/6 SOFR ARM Note 2021 (Cx25464)
  • 3142.53 PR 5/6, 7/6, 10/6 SOFR ARM Rider 2021 (Cx25465)

These new FNMA/FHLMC Uniform Instruments are now available in ConformX for Puerto Rico 3/6 SOFR ARM loans and were created to include the other note and rider enhancements outlined in this announcement:

• • 3441.53 PR 3/6 SOFR ARM Note 2021 (Cx27806)
  • 3141.53 PR 3/6 SOFR ARM Rider 2021 (Cx27807)

Data Integrity Check Updates

The Puerto Rico data integrity error message has been updated to include the newly created 3/6 SOFR note and rider form numbers in the supported documents list:

The following FNMA/FHLMC Puerto Rico Forms are currently available: First Mortgage 3053; Acceptance of First Mortgage 3053.1; Fixed Rate Note 3253; Property Riders 3140.53, 3150.53, 3170.53, and 3890.53; and SOFR ARM Notes and Riders, 3442.53/3142.53 and 3441.53/3141.53. The loan program you have selected is not supported.

The following types of loans will now also trigger this Puerto Rico data integrity error since there is no standard document support for these scenarios:

• • Cooperative (FI 22537) set to “Yes”
  • HELOC (FI 28859) set to “Yes”
  • Balloon Indicator (FI 27621) set to “Yes”

Full Retirement of Pre-2021 Puerto Rico Documents

The following documents based on pre-2021 FNMA/FHLMC versions have been retired:

• • 3053 Puerto Rico Mortgage (Cx11682)
  • 3053.1 Puerto Rico Acceptance of First Mortgage (Cx11683)
  • 3890.53 Puerto Rico Second Home Rider (Cx11687)
  • 3170.53 Puerto Rico 1-4 Family Rider (Cx11686)
  • 3140.53 Puerto Rico Condominium Rider (Cx11684)
  • 3253 Puerto Rico Fixed-Rate Note (Cx11680)
  • 3501.53/3502.53 Puerto Rico Adjustable-Rate Note (Cx11681)
  • 3108.53/3111.53 Puerto Rico Adjustable-Rate Rider (Cx11688)
  • 3180 Balloon Rider, PR margins (Cx11809)
  • 3190 Balloon Rider, PR margins (Cx11808)
  • 3191 Balloon Rider, PR margins (Cx11807)

When Use New FNMA/FHLMC Legal Documents (07/2021) (FI 152151) is not set to “Yes”, the following Data Integrity Error will trigger for Puerto Rico in place of the previous pre-2021 data integrity message:

Only post-2021 versions of FNMA/FHLMC Uniform Instruments are supported for Puerto Rico.

Effective Date

These changes are available for testing on Stage & Stage 2 servers and will take effect on December 27, 2024. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

COM-4945
DR-155684
DR-162297
T3S-18504

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third-party should consult with an attorney prior to embarking upon any specific course of action.