Pursuant to our monthly audit of Federal agency forms, we will be updating the follow HUD documents (which can be found at: https://www.hud.gov/program_offices/administration/hudclips/forms/).
Cx4734 Conditional Commitment Direct Endorsement – Homebuyer’s Copy
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History
VA has updated VA Form 26-1880, again, for the fourth time in four months. Below is the document release timeline on the VA’s form website that has made updating our copy of the form problematic:
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The MO Loan Brokerage Disclosure Agreement, Cx3328, is provided pursuant to Mo. Ann. Stat. § 443.867, which requires a residential mortgage loan broker (including all retail mortgage lenders) to provide a loan brokerage disclosure statement and fee agreement with each borrower….
The Maryland Dual Capacity Disclosure, our Cx24966, which applies to mortgage loan originators when acting in a dual capacity as a real estate agent for the sale of a property, has been a custom document. The determination to make it a custom document was originally due to the Maryland Mortgage Loan Originator statutes….
If the ConformX fields used to populate the “Year or period requested” sections of IRS Forms 4506-C “IVES Request for Transcript of Tax Return” and 4506 “Request for Copy of Tax Return” are not set, the first two loan level dates default to the last day of the previous two calendar years….
As previously announced, New York State Assembly Bill A9493A adds a new disclosure requirement for VA loan counseling. This act is effective April 15, 2023.
To comply with this disclosure requirement, a new document has been created as Cx26686 – NY VA Services Loan Counseling Disclosure,…
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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