We are modifying our Maryland Department of Labor, Licensing, and Regulation Disclosures (Cx13900, Cx13901, and Cx13902), pursuant to COMAR 09.03.10.03, to ensure that clients do not get multiple disclosures about balloon payments or payment of taxes/insurance. COMAR 09.03.10.03 reflects that when a loan includes a balloon payment,…
Pursuant to our monthly audit of Federal Agency forms and to match the model forms made available through https://www.va.gov/find-forms/, we will be making the following changes to Cx14056 and Cx3953:
Cx14056, VA Form 26-1817, VA Request for Determination of Loan Guaranty Eligibility….
Our NY Balloon Payment Disclosure (Cx4168) is provided for certain loans with balloon payments in New York. 3 NYCCR § 80.4 requires a balloon disclosure to be given in junior lien situations where the loan amount is not more than $250,000. …
Cx1570 is provided pursuant to Me. Rev. Stat. Ann. tit. 36, § 5250-A(2). The law states:
Every buyer of real property located in Maine must withhold a withholding tax equal to 2 1/2% of the consideration. The withholding required by this section must be transmitted to the State Tax Assessor within 30 days of the date of transfer of the property unless the State Tax Assessor authorizes the buyer to release the amount withheld,…
As announced previously, the FHA Annual Mortgage Insurance Premium (MIP) rates were lowered for most mortgages by 0.30% as outlined in ML 2023-05. The Base Loan Amount threshold used to establish MIP rates was also updated to the conforming loan limit….
Fannie Mae recently updated the Instructions to Form 3044.1 – 07/2021 Texas Home Equity Security Instrument (Our Cx25323) by adding Paragraph 9 which reads:
“Lenders MAY delete the word “Witnesses” and the two accompanying lines for witness signatures that appear to the left of the Borrower signature lines on the last page,…
On February 1, 2023, Fannie Mae announced that the Model Form for the Virginia Deed of Trust (Form 3047) has been revised to remove the consideration amount and property value information above the “Definitions” section of the security instrument….
On January 17, 2023, the VA published VA Circular 26-23-3 and VA Circular 26-23-4 regarding revisions to VA Form 26-1820 “Report and Certification of Loan Disbursement”, the discontinuation of VA Form 26-1802a “HUD/VA Addendum to the Uniform Residential Loan Application”,…
Fannie Mae and Freddie Mac (the Government Sponsored Enterprises [GSEs]) sent out a reminder that lenders are required to use the updated Supplemental Consumer Information Form (SCIF; Form 1103) and include it in the loan file for conventional loans sold to the GSEs with application dates on or after March 1,…
Wash. Rev. Code Ann. § 60.04.255(1) requires property lenders to provide informational material described in Wash. Rev. Code Ann. § 60.04.250 to any one “obtaining loans, the proceeds of which are to be used for residential construction or residential repair or remodeling.”
The forms described in Wash….
The IRS sent out Form 4506-C 10/2022 Version Reminder which states “Effective March 1, 2023, prior versions will only be accepted if signed and dated by the taxpayer by Feb 28, 2023. Form 4506-C signed on March 1,…
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 credit counseling (Kan. U.C.C. Ann. §16a-3-207[3[[b] & [4]). This notice is required to be given three days before closing when the loan is subject to the KS UCCC,…
After a review of the language that prints for our signature lines for trusts, we have decided to update our standard Trust Riders and Trust Acknowledgments to permit the signatures and names in those documents to reflect any amendment date in the legal name of the trust….
On February 1, 2023, Commissioner Wesley R. Bennett of the Indiana Department of Local Government Finance announced the update of Indiana Property Tax Benefits Form 51781 (Cx14885).
The main changes are:
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As announced earlier, the new clean version of the 4506-C standard forms are available for ink sign use in ConformX Production servers. We are pleased to announce that the eSignature problem in the “Signature for Line 1a (see instructions)” or “Spouse’s signature (required if listed on Line 2a)” boxes on the new forms have been corrected in the last ConformX/Solex software release,…
We have revised the CA Notice to Cosigner (Cx886) to be to more closely aligned with the model form published on the Department of Financial Protection and Innovation (DFPI) website. The document now discloses the notice in English,…
Pursuant to our monthly audit of Federal agency forms, we will be updating Cx2283, For Your Protection Get a Home Inspection, to match the recent updates posted on the HUD website. The major change was updating the expiration date from 6/30/2021 to 7/31/2025….
Pursuant to our monthly audit of federal agency forms, we will be updating Cx19212, USDA-RD Origination Stacking Order Checklist, to match the updated form on the USDA-RD website. The changes include:
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The VA posted Circular 26-23-3 (Change 1) and Circular 26-23-4 (Change 1) today listing “PURPOSE:” postponing the effective date of these Circulars from February 1, 2023 to April 1, 2023.
The changes announced in Document Updates to VA Forms 26-1820 (Cx52),…
Cx3039 NV Deed of Trust HELOC has been updated to improve functionality of the document. Previously, names for the paragraph starting with “LOAN: The Deed of Trust…” were pulled from Field 2226 Borrower Vesting, which pulls names from the security instrument….
