As previously announced, HUD has published revised versions of some of their documents – most notably form HUD-92900-A, which has now been separated from the VA-copy of the same form (Form VA Form 26-1802a).
Due to this separation,…
On January 19, 2021 the Consumer Financial Protection Bureau (“CFPB”) published their final rule to amend “Regulation Z, which implements the Truth in Lending Act, as mandated by section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act….
As previously announced, the SSA has published on their website a revised version of Form SSA-89. Our Cx5579 is a duplicate of this form and we are updating it to match the latest version.
New Fields
A major change between the previous and the current versions of the Form is the list of borrower reasons for authorizing consent to a company to verify their SSN (“Reasons”)….
The “Total UFMIP” section in the glossary of the HUD form 92900-LT (FHA Loan Underwriting and Transmittal Summary) states that “Mortgagees must enter the amount being financed into the loan (i.e. exclude cents).” In light of this definition, and considering the fact that FHA does not finance cents into the UFMIP,…
Based on a review from examples provided in Thomas E. Black, Jr. David F. Dulock Daniel S. Engle. 2018: (https://www.bmandg.com/wp-content/uploads/article-repository/2018-Home-Equity-Manual.pdf), we are modifying our Texas Home Equity Loan Closing Instructions Addendum (Cx5004) which is based on Tex. Const. art. 16,…
Pursuant to our monthly audit of Federal agency forms, we will be updating the following documents to match the most recent revisions published on the VA’s website (https://www.va.gov/find-forms/):
Substantial changes to these documents are as follows:
…
Pursuant to our monthly audit of Federal agency forms, we will be updating our copies of the Model Notice for Informed Consumer Choice Disclosure (Cx41) and form HUD-92900-LT (Cx13513) to match the latest versions of these forms (which can be found at: https://www.hud.gov/program_offices/administration/hudclips/forms/ and https://www.hud.gov/program_offices/housing/sfh/model_documents)….
The Texas Department of Savings and Mortgage Lending celebrated New Year’s Day by finalizing amendments to Chapters 80 and 81 (see 46 Tex. Reg. 152 – 160 [January 1, 2021]), which were originally proposed last September (see 45 Tex.…
The Social Security Administration (“SSA”) recently posted revised versions of their Form SSA-89 (both in English and in Spanish) on their website (https://www.ssa.gov/forms/). These versions were anticipated, since they form a critical part of the SSA’s new Electronic Consent Based Social Security Number Verification (“eCBSV”) system (see https://compliance.docutech.com/2020/10/08/ssns-the-ecbsv-and-us/ for further details)….
As previously announced, FHLMC has incorporated some of their temporary requirements imposed due to the COVID-19 pandemic into their “Single-Family Seller/Servicer Guide”, making such requirements permanent. Among these are the requirements for an employee of the lender or settlement agent to explain to the borrower the terms of the loan,…
