Stay ahead with trusted industry insights and compliance updates.
Global Mapping Change: Kansas High LTV Consumer Notice (Cx1595)
Feb 16, 2023
The “KS High LTV Consumer Notice” (Cx1595) discloses to the borrower that their loan has a high LTV ratio and suggests that the borrower considers ...
Topics: Document Updates
Compliance News: FHA Publishes Updated Instructions for Single Family Mortgage Model Documents for 2021 (Effective 2023) GSE Security Instruments and Notes
Jan 23, 2023
On January 20, 2023, the U.S. Department of Housing and Urban Development (HUD) published Mortgagee Letter 2023-01 regarding the Federal Housing ...
Topics: In the News, Compliance News Alert
Compliance News: Updates to VA Forms 26-1820 (Cx52), 26-1820a (Cx20336) & 26-6393 (Cx5533)
Jan 19, 2023
On January 17, 2023, the VA published Circular 26-23-3 and Circular 26-23-4 regarding revisions to VA Form 26-1820 “Report and Certification of Loan ...
Topics: In the News, Compliance News Alert
Compliance News: FNMA Indefinitely Postpones Form 1008 Mandatory Effective Date
Oct 9, 2019
Last year, FNMA announced revisions to their Form 1008 (Uniform Underwriting and Transmittal Summary), with a mandatory effective date of July 1, ...
Topics: In the News, Compliance News Alert
DI Check Update: Warnings and Errors for Second Lien Loans Exempt from TRID
Aug 20, 2018
One of the amendments to the TILA-RESPA Integrated Disclosure Rule (TRID 2.0) allows creditors to exclude recording fees and transfer taxes when ...
Topics: Document Updates
Global Mapping Updates: Field “Integrated Disclosure Loan Indicator” and Second Liens Exempt from TRID
Aug 20, 2018
One of the amendments to the TILA-RESPA Integrated Disclosure Rule (TRID 2.0) allows creditors to exclude recording fees and transfer taxes when ...
Topics: Document Updates
TRID 2.0 Updates: Closing Disclosure (Cx18566) and Spanish Closing Disclosure (Cx18991) Changing Prepaid Interest From 0 to 0.00.
Aug 13, 2018
Under TRID 1.0, if no prepaid interest existed in a transaction, then “$0” was required to be disclosed Line F.03 of the Closing Disclosure, per the ...
Topics: Document Updates
System Doc Updates: Promissory Notes, Integrated Disclosures, and Land Trusts
May 24, 2018
Last December, FHLMC promulgated new requirements concerning “Land Trust Mortgages” (see ...
Topics: Document Updates
Compliance News: Updates to New FNMA Form 1003
Dec 19, 2017
Today, FNMA announced updates to their new Form 1003, as well as supporting documents for it (e.g., “1003 Demographics Addendum”, “Form 1003 ...
Topics: In the News, Compliance News Alert
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.
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