In Mortgagee Letter 2022-11 from the U.S. Department of Housing and Urban Development (HUD) dated July 12, 2022, it was announced that the Federal Housing Administration (FHA) initial appraisal validity period has been increased from 120 days to 180 days from the effective date of the appraisal….
The Oregon Division of Finance and Corporate Securities has published updates to their “Interest Rate Lock/Float Agreement” on their website at: https://dfr.oregon.gov/business/licensing/financial/Pages/applications-forms-reports.aspx. This document complies with the provisions of Or. Rev. Stat. Ann. § 86A.115(2), Or. Admin….
After a review of the language that prints for our signature lines for Trusts, we have decided to update our standard Trust signatures to provide the Freddie Mac verbiage for settlor signature lines for FHLMC loans, as outlined here in their guidelines….
Docutech is updating the field associated with the “Mailing Address for Notices” line on our California HELOC Deed of Trust (Cx1362) near the bottom of the document where the Trustors request that a copy of any notice of default, and of any notice of sale be mailed to the address listed….
We are updating our MD Net Tangible Benefits Worksheet( Cx13909) to match the latest version of the form published by the Maryland Commissioner of Financial Regulation, see: https://www.dllr.state.md.us/forms/frnettangiblebenefitsworksheet.pdf. This document is published pursuant to the requirements found in Md….
The Minnesota Department of Commerce recently announced changes to dollar amounts which are indexed in the Minnesota Consumer Credit Code (Minn. Stat. Ann. § 47.59(3)(i)) and in the Regulated Loan Act (Minn. Stat. Ann. § 56.131(4)) effective July 1, 2002….
On May 14, 2021, the Illinois Department of Financial and Professional Regulation published a Notice of Proposal in the Illinois Register in order to implement the new requirements for the Consumer Installment Loan Act identified in Public Act 101-0658, which was signed into law on March 23,…
In response to VA Circular 26-22-10, United States Space Force Certificate of Eligibility Update, Docutech has added “Space Force” as an option to the following fields:
35814 Borrower 1 VA Branch of Service
58444 Borrower 2 VA Branch of Service
63255 VA –…
As announced earlier, Fannie Mae (FNMA) and Freddie Mac (FHLMC) published announcements about the release of their updated uniform legal instruments, including security instruments, notes, riders, addenda, and special purpose documents. We are pleased to inform you that we have the new Uniform Instruments and supplemental forms available for testing,…
On March 18, 2022, Indiana Gov. Eric J. Holcomb signed into law HB1092, legislation which contains multiple provisions related to business association matters, license renewals, third party solicitors, and loan broker exclusivity agreements.
Beginning July 1, 2022, the loan broker contract disclosure requirement listed in Ind….
New York Lien Law § 22 requires that a building loan contract, in writing and duly acknowledged with a statement under oath, must show the consideration paid, all other expenses to be incurred in connection therewith, and the net sum available to the borrower….
On May 5, 2022, Acting Commissioner of Financial Regulation David F. Provost signed an Order In Re: High Rate Mortgage Loan Disclosure which temporarily suspends the disclosure requirements pursuant to Regulation B-98-2 (Vt. Admin. Code 4-2-6) and Vt….
On April 11, 2022, Virginia Gov. Glenn Youngkin signed into law H 1153, legislation which contains multiple provisions related to real estate brokerages, mortgage brokers, and dual compensation.
The dual compensation disclosure language required by Va. Code Ann….
Pursuant to our monthly audit of federal agency forms, we are updating our USDA Loan Origination Checklist Attachment 15-A (CX 19212), so that it matches the latest version of the form promulgated in RD HB-1-3555 Ch. 15. This document is available upon request….
Pursuant to our monthly audit of federal agency forms, we are updating our Servicemembers Civil Relief Act Notice Disclosure (CX 17822), so that it matches the latest version of the form promulgated. HUD’s official website form HUD-92070 is found here….
We have updated FNMA Form 1003 (Cx20667) and 1003 Spanish Translation Aid 1003 Uniform Residential Loan Application Form 65 (Cx20668) to support adding a guarantor to the application. The following changes will be made when the following fields are sent with a guarantor indicator: 51807 – Borrower (1),…
As per annual requirements, Oklahoma has updated its laws regarding the maximum dollar amounts which can be charged for late fees.
Per Okla. Stat. Ann. tit. 14A, § 3-203(1) & (5), the Oklahoma Department of Consumer Credit has increased the maximum late charge for delinquent payments on a consumer loan or a revolving loan account from $27.00 to $29.00….
On September 28, 2021, California Gov. Gavin Newsom signed into law AB 948, legislation which contains multiple provisions related to appraisal bias. Beginning July 1, 2022, all California Residential Sales Contracts must include a statement promising that appraisals are unbiased and not influenced by improper or illegal considerations….
When applying for certain tax exemptions in the District of Columbia, D.C. Mun. Regs. § 9-335 requires the use of model form “ROD 1 – Real Property Recordation and Transfer Tax Form FP 7-C”, which is published on their website here: https://otr.cfo.dc.gov/sites/default/files/dc/sites/otr/publication/attachments/FP7-C_Form_and_Instructions.pdf
Parts E &…
Docutech is adding functionality to support alternate configurations for the W-8BEN (our Cx7938) and W-9 (our Cx22) IRS forms.
Some clients have requested the ability to control the copy logic that triggers our copies of the W-8BEN and W-9….
