Document Updates

Document Updates: Removal of Commonwealth Language in Notarial Certificates For Various State Documents (Cx4, Cx486, Cx505, Cx1332, Cx1348, Cx1514, and Cx1516)

Even though four states refer to themselves as commonwealths (Kentucky, Massachusetts, Pennsylvania, and Virginia), none of these states use the word “commonwealth” in their respective statutory notarial certificate examples. These notarial certificate examples show the word “state” instead.

In an effort to streamline notarial certificates to be more uniform and compliant,…

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Document Updates: Various Recordable Utah Instruments (Cx353, Cx511, Cx1398, Cx1550, Cx2935, Cx4350, Cx5702, & Cx19402)

As previously announced, the Government of Utah repealed the provisions formerly found in Utah Code Ann. § 17-21-18.5(4)(b) which required documents for loans subject to RESPA to contain the caption “RESPA” before they are recorded.

Pursuant to this repeal,…

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Configuration Updates: Washington County, PA Recordable Documents

It has come to our attention that the Office of Recorder of Deeds for Washington County, Pennsylvania will only accept documents which have a font size of 12 or larger on all pages submitted for recording.

Consequently, we are increasing the font size to 12 point for the following Washington County,…

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Product Updates: Support for Both Real and Personal Cooperatives in New Jersey

Earlier this year, we announced new support for loans secured by a borrower’s ownership shares and lease in a cooperative unit (“cooperative loans”) in New Jersey, and that our approach to documentation for these loans was to treat them as being secured by real property….

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Document Updates: Revisiting CA Important Privacy Choices for Consumers (Cx16539)

As a reminder, we wanted to revisit our California Important Privacy Choices for Consumers (Cx16539). On June 4, 2012 Docutech posted the following announcement:

“Cal. Fin. Code §§4052 & 4053 prohibit a financial institution from disclosing or sharing a consumer’s nonpublic personal information with either an affiliate of the institution or a nonaffiliated third party,…

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Document Updates: Colorado Reasons for Loan (Cx12874)

According to Colorado regulation 4 CCR § 725-3:5.7(B), the mortgage loan originator is required to obtain, in writing, the reasons borrowers are seeking a mortgage loan.  Subsection 1 places the responsibility on the mortgage loan originator to ensure information is acquired and accurately documented. …

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Document Updates: Lender Loan Quality Certification (Cx56)

This document is provided pursuant to the provisions of 38 C.F.R. § 36.4340(k)(2)(i) and VA Lender’s Handbook ch. 4, 1-c & 1-d(5), the last of these requiring that the certification be comprised of the following text:

“The undersigned lender certifies that the loan application,…

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New Document: VA New Construction – No Builder Warrant (Cx13849)

As previously announced, the VA is in the process of revising their “Lender’s Handbook” (VA Manual 26-7). Revised Chapter 10, 18-c requires the following in connection with a loan for new construction, in which the “Veteran, acting as a general contractor,…

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Document Updates: Construction Completion Date Field Changes for Generic Construction Documents

Due to client feedback, we are updating the “Completion Date” functionality on our generic construction documents to provide more flexibility surrounding the date the construction is completed. By default, the documents use Field 538 “Construction Loan Maturity Date” to populate the completion date….

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Document Updates: Changes to IRS Forms 4506 Request for Copy of Tax Return (Cx23) and 4506-T Request for Transcript of Tax Return (Cx3095)

Cx23 is a duplicate of IRS Form 4506 (available directly at: https://www.irs.gov/pub/irs-pdf/f4506.pdf). The newly posted March 2019 version of IRS Form 4506 contains the following changes:

• All references to the September 2018 version now refer to the March 2019 version.

…

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Global Mapping Changes: 2019 Update to IRS Tax Return End Date Default Values

If the ConformX fields used to populate the “Year or period requested” sections of IRS Forms 4506-T and 4506 (Request for Transcript/Copy of Tax Return) are not set, the first two dates default to the last day of the previous two calendar years….

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Document Updates: Generic Second Home Riders (Cx35, Cx1878, Cx16202, & Cx20384)

As previously announced, FNMA announced that they had published a revised Form 3890 (“Multistate Second Home Rider”) on their website (FHLMC announced similar revisions in FHLMC Guide Bulletin 2019-7). As a result, we will be modifying the following duplicates of this form to match the latest revisions:

• 3890 Rider Second Home (Cx35)
• NY CEMA GAP – 3890 Rider Second Home (Cx16202)

We will also be modifying the following forms,…

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Document Updates: Irrevocable Stock Power – COOP (Cx4986) and Irrevocable Stock Power – HELOC COOP (Cx22936)

Upon an internal review of our Irrevocable Stock Power – COOP (Cx4986) and Irrevocable Stock Power – HELOC COOP (Cx22936), we have decided to make the reference to the number of stocks/shares transferred in the first paragraph more readable. Currently,…

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Document Updates: Virginia Deed of Trust Second (Cx512)

After a recent document review, we will be changing the “County” language  on the “Virginia Deed of Trust Second” (Cx512), specifically the section of the document that currently prints as “…described property located in the ___ County, State of Virginia:”…

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Document Updates: Fannie Mae Cash Flow Analysis (Cx5530), Fannie Mae Cash Flow Analysis (Cx15293), & Freddie Mac Form 91 Income Analysis (Cx22994)

Over the course of several bulletins and an email update, FHLMC announced various revisions to their rental income requirements (see FHLMC Bulletins 2019-4, 2018-13, & 2017-12; see also http://www.freddiemac.com/singlefamily/news/2018/0110_rental_income_and_rescission_principles.html).

Among these various changes was an update to FHLMC Form 91 (“Income Calculations”;…

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Document Updates: Vermont Application Capacity Notice (Cx4816)

According to 8 VSA §2220, the Vermont Department of Financial Regulation is vested with the authority to regulate real estate mortgage loan commitment letters.  Section 5 of Vermont Reg. B-2018-02 requires that “All commitment letters, except as provided in subsections 5(A),…

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Document Updates: For Your Protection Get a Home Inspection (Cx2283)

Cx2283 is a duplicate of form HUD-92564-CN, which is provided pursuant to the requirements of FHA Single Family Handbook 4000.1 II.A.1.a.ii(A)(4), II.A.8.a.xiv(B)(3), & A.9.k.ii.

Pursuant to our recurring audits of FHA forms, we will be updating Cx2283 to more closely match the model,…

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Document Updates: VA Loan Analysis (Cx5533)

Cx5533 is a duplicate of VA Form 26-6393, which is required under VA Lender’s Handbook, ch. 1, 6-a and ch. 4 (and is used to comply with the provisions of 38 C.F.R. § 36.4340[f][8] & [12]).

Upon a review of Revised Chapter 4 of the “VA Lender’s Handbook” (see Change 25 at https://www.benefits.va.gov/warms/pam26_7.asp),…

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Document Retirement: Several FNMA/FHLMC Uniform COFI Instruments (Cx149, Cx156, Cx272, & Cx737)

As previously announced, FNMA is “retiring all legal documents specific to the use of COFI from [its] website” (FNMA Ann. SEL-2019-01). Subsequent to this announcement, FHLMC also announced their retirement of certain shared uniform instruments which use the COFI (see FHLMC Bulletin 2019-5)….

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Global Prompt Retirement: Previous Loan Note Date (Field 6677)

Our field Previous Loan Note Date (FI 6677) has a global optional prompt that fires for IRRRL loans. Since Field 6677 is no longer on our VA Refinance Loan Comparison (Cx14501), we are removing this global prompt. All other prompts and mappings on Field 6677 will remain in place….

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