In an email dated August 28, 2019 FNMA announced that they had “updated the summary document for the Multistate Fixed-Rate Note 3200 to include an Authorized Change for properties located in Alabama.” We have reviewed this change, which now permits lenders to include the following as the last sentence in Section 6(A) of Form 3200:
“In no event will any late charge under this Section 6(A) exceed $100.”
We are planning to incorporate this change and details of any modifications we make will be announced on our website (https://compliance.docutech.com/).