The Texas Finance Commission has adopted rules proposed by the Texas Department of Savings and Mortgage Lending. These rules were published in the November 15, 2024 edition of the Texas Register. These changes are effective November 23,…
Pursuant to our monthly audit of Federal Agency forms our teams found that that HUD Important Notice to Homebuyers 92900-B (Cx40) and HUD Addendum to Uniform Residential Loan Application Form 92900-A (Cx24442) required updates. We are updating the following forms to match the model forms listed on the HUD website….
Cx15312 is a duplicate of the Model A-3/H-3 Form provided by the Federal Trade Commission, Federal Reserve Board, and Consumer Financial Protection Bureau pursuant to the provisions of 15 USCA § 1681m(h) and 12 CFR §§ 222.74(d)(1), 1022.74(d)(1), and 16 CFR § 640.5(d)(1)….
Per SC Code 1976 § 30-5-30, on all written instruments (except for mortgage satisfactions), there must be two witnesses including either a probate verification (SC Code 1976 § 30-5-30(A)) or an acknowledgment statement (SC Code 1976 § 30-5-30(B)).
With a probate verification,…
The DE Second Mortgage (Cx475) and the LA Second Mortgage (Cx485) both allow the lender to disclose attorney fees as a percentage of the principal and interest. See 5 Del. C. § 2223 & La. R.S. § 6:1097. The amount of the percentage is determined by the lender,…
California Assembly Bill 2424 adds a requirement to California Civil Code § 2932.2 for mortgagee, beneficiary or authorized agent to provide a disclosure notifying buyers of properties with four units or less that a third party such as a family member,…
As part of an ongoing audit of second lien and HELOC documents, we have made the following changes to Cx1061 Fixed Rate Note Nebraska Second, Cx3044 HELOC Deed of Trust – NE and the Nebraska version of Cx21652 HELOC Agreement….
Texas case law precedent holds that the homestead of a borrower can be established even without a written designation. Blake v. Fuller, 184 184 S.W.2d 148,151 [Tex. Civ. App. 1944].
The TX Homestead Affidavit, Cx19609, was created to satisfy the provisions of Tex….
All post-2021 first lien closed end standard security instruments in ConformX share the same logic in the notary acknowledgment area. This notary acknowledgment coding prints different text and content on the security instrument based on Property State (FI 1714) and Security Instrument Notary Type of Presence (FI 137249)….
The contact information of the three major credit reporting agencies (Equifax, Experian, and Transunion) is disclosed (as applicable) on the following documents for the following reasons:
…
We have updated Cx1330 (NH HELOC Mortgage) to add field 152399 “Full Security Instrument Borrower Definition Mailing Address” to the logic so that if clients send a mailing address in Field 152399, we will populate that address instead of the property address….
Pursuant to our monthly audit of federal agency forms, we have updated Cx13513 “FHA Loan Underwriting and Transmittal Summary” and Cx17814 “Borrowers Contract Hotel and Transient – Condo”.
Included in the Cx13513 updates are:
…
According to 104 Ky. Admin. Regs. §1:010(4), A person or entity engaged in real estate or real estate-related transactions must provide to owners and customers at the time of sale, purchase rental, insuring or financing of real property, a copy of the pamphlet “What Kentucky Fair Housing Law Means”. …
According to Mass. Gen. Laws Chapter 183, Section 21, the “power” or “power of sale” in a foreclosure proceeding is referenced as the “Statutory Power of Sale”. This power can be incorporated by reference but case law states that in order for a mortgagee to foreclose without obtaining prior judicial authorization upon default the mortgage must include the power or sale (see Culhane v….
We have recently updated our Cx801 Tax Information Authorization Form, which is a duplicate of the IRS Form 8821. This document is only used upon request and is applicable to a limited number of clients.
The update to the Tax Information Authorization form (Cx801) now allows for eSign functionality on a global scale….
All post-2021 first lien closed end standard security instruments in ConformX share the same logic in the notary acknowledgment area. This notary acknowledgment coding prints different text and content on the security instrument based on Property State (FI 1714) and Security Instrument Notary Type of Presence (FI 137249)….
Pursuant to MD. State Government Code § 18-213 for remotely located notarial acts we have updated Maryland Tax Property Affidavit (Cx15803) to include the following language: “This notarial act involved a remotely located individual and the use of communication technology.”
The designation will apply when the field “Security Instrument Notary Type of Presence” (FI 137249) equals ‘IPEN’ or electronic notarization”…
On May 1, 2024, Governor J. Kevin Stitt approved Oklahoma Senate Bill 57 which amends the last sentence in 19 O.S. 2021 § 298(B) by updating the following language in bold:
“The top margin of all documents shall be at least two (2) inches and all other margins shall be at least one (1) inch.”
The effective date for OK SB 57 is November 1,…
As stated in Fannie Mae Selling Guide Announcement SEL-2024-03, the following SOFR ARM Notes and Riders have been updated and are available for immediate use, but these SOFR ARM Notes and Riders must be used for any loans with note dates on or after November 1,…
In an effort to more easily identify Fannie Mae (Federal National Mortgage Association “FNMA”) forms located in Docutech’s document library, various Docutech document description names have been updated to include the FNMA form number followed by “FNMA” and the actual FNMA document name….
