We are modifying our copy (Cx18893) of RD Form 3555-21 “Request For Single Family Housing Loan Guarantee” to allow for better form functionality and to more closely follow the GSA/SAM Exclusion instructions on the form which state: “Check Yes if any party is excluded,…
The instructions that print on our form “Gift Letter” (Cx17342), requires “The form is to be transmitted directly to the donor and is not to be transmitted through the applicant or any other party.”
As a result of the form instructions above,…
As previously announced, Ind. Code Ann. § 26-1-9.1-521 has been amended to require that “a filing office that accepts written records may not refuse to accept a written document for a filing by this chapter if the document conforms to a format that is: (1) approved by the International Association of Commercial Administrators ….
Field Index 123528 “Co-op is Real Property or Personal Property” is used to differentiate loans secured by a borrower’s lease and shares in a cooperative unit (aka “cooperative loans”) from being treated as secured by real property or personal property,…
As previously announced, the headquarters of the South Carolina Department of Consumer Affairs has been relocated. The Department’s main address is listed on their “Fee Agreement Sample” form available on their website, within the context of disclosing to borrowers the places (and means) where they may file complaints concerning the origination of their loan….
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,…
As previously announced, the Government of Utah repealed the provisions formerly found in Utah Code Ann.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,…
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,…
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….
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,…
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. …
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,…
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,…
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….
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:
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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….
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:
We will also be modifying the following forms,…
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,…
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:”…
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”;…
