Document Updates: Cx1327 (HELOC – NY Mortgage)

As announced here, we previously made adjustments to some of the document logic on New York HELOC Mortgage (Cx1327) for the checkboxes that are part of the BORROWER’S STATEMENT REGARDING THE PROPERTY.

In light of those recent adjustments, we are removing the MORTGAGE TAX Section which states, “The Property is or will be principally improved by a one or two family dwelling only” as it is now redundant when the following BORROWER’S STATEMENT REGARDING THE PROPERTY box is checked:

The Security Instrument covers real property improved, or to be improved, by a one (1) or two (2) family dwelling only.

This change is available for testing on Stage & Stage 2 servers and will take effect on February 19, 2025. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

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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.