Document Updates

Document Retirement: Pre-2015 FHA Documents

Several obsolete FHA documents are being retired.

1) The following FHA security instruments, used for loans with case number assignment dates prior to September 14, 2015, will be completely retired: 

• AL Mortgage FHA (Cx362)
• AK Deed of Trust FHA (Cx361)
• AZ Deed of Trust FHA (Cx364)
• AR Deed of Trust FHA (Cx363)
• CA Deed of Trust FHA (Cx365)
• CO Deed of Trust FHA (Cx366)
• CT Mortgage FHA (Cx367)
• DE Mortgage FHA (Cx369)
• DC Deed of Trust FHA (Cx368)
• FL Mortgage FHA (Cx370)
• GA Security Deed FHA (Cx371)
• HI Mortgage FHA (Cx373)
• ID Deed of Trust FHA (Cx375)
• IL Mortgage FHA (Cx376)
• IN Mortgage FHA (Cx377)
• IA Mortgage FHA (Cx374)
• KS Mortgage FHA (Cx378)
• KY Mortgage FHA (Cx379)
• LA Mortgage FHA (Cx380)
• ME Mortgage FHA (Cx383)
• MD Deed of Trust FHA (Cx382)
• MA Mortgage FHA (Cx381)
• MI Mortgage FHA (Cx384)
• MN Mortgage FHA (Cx385)
• MS Deed of Trust FHA (Cx387)
• MO Deed of Trust FHA (Cx386)
• MT Deed of Trust FHA (Cx388)
• NE Deed of Trust FHA (Cx391)
• NV Deed of Trust FHA (Cx395)
• NH Mortgage FHA (Cx392)
• NJ Mortgage FHA (Cx393)
• NM Deed of Trust FHA (Cx394)
• NY Mortgage FHA (Cx396)
• NY CEMA GAP Mortgage – FHA (Cx16245)
• NC Deed of Trust FHA (Cx389)
• ND Mortgage FHA (Cx390)
• OH Mortgage FHA (Cx397)
• OK Mortgage FHA (Cx398)
• OR Deed of Trust FHA (Cx399)
• PA Mortgage FHA (Cx400)
• RI Mortgage FHA (Cx401)
• SC Mortgage FHA (Cx402)
• SD Mortgage FHA (Cx403)
• TN Deed of Trust FHA (Cx404)
• TX Deed of Trust FHA (Cx405)
• UT Deed of Trust FHA (Cx406)
• VT Mortgage FHA (Cx409)
• VA Deed of Trust FHA (Cx407)
• WA Deed of Trust FHA (Cx410)
• WV Deed of Trust FHA (Cx412)
• WI Mortgage FHA (Cx411)
• WY Mortgage FHA (Cx413)

2) FHA security instruments effective for loans with case numbers assigned on or after September 14,…

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TRID 2.0 Updates: Prepaid Interest, Payoffs and Payments, and Monthly Escrow Payment Changes

We will be making the following changes pursuant to “TRID 2.0” (82 FR 37656 [2017]):

Prepaid Interest

Under “TRID 1.0”, there was a lack of clarity as to how the daily dollar amount for “Prepaid Interest” (“per diem amount”) should be disclosed on the Loan Estimate (“LE”) and Closing Disclosure (“CD”)….

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TRID 2.0 Updates: Post-Consummation Construction Fees

“TRID 2.0” (82 FR 37656 [2017]) amends Regulation Z to require the total of post-consummation draw, inspection, and handling fees to be disclosed in addenda to the Loan Estimate (“LE”) and Closing Disclosure (“CD”). For details about these amendments, please visit our analysis at: https://compliance.docutech.com/2018/04/02/post-consummation-fees-and-trid/….

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System Updates: Late Fee Defaults (2018 UCCC Dollar Amount Adjustments)

Due to revisions to the dollar amounts promulgated under various states’ versions of the Uniform Consumer Credit Code (see https://compliance.docutech.com/2018/06/04/matrix-updates-late-fees-and-prepayment-penalties/ for details), we are revising our ConformX late fee standard defaults to reflect these changes (as applicable).

These changes will be pushed to production on the night of June 30,…

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Global Mapping Updates: Field “State Funding Type” (23043) Global Mapping Changes for Alaska and Hawaii

Global mappings on Docutech’s field “State Funding Type” (Field 23043) is used within ConformX to determine whether a state is a “wet” or “dry” funding state. Essentially, a “wet” funding state is one that allows a loan to be funded on the same day the closing documents are signed,…

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Document Updates: Credit Score Disclosure – B-3/H-3 (Cx15312)

Pursuant to a review by our Legal team, Docutech is updating the TransUnion contact information in Cx15132 – Credit Score Disclosure – B-3/H-3 to conform with the contact information found on TransUnion’s “Compliance Notifications” webpage found at https://www.transunion.com/client-support/compliance-notifications….

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Document Updates: Incorporating More Appendix C Forms into the Statement of Credit Denial, Termination or Change (Cx15858)

Substantively, Cx15858 is a duplicate of Sample Form C-1 provided under Federal Regulation B (12 CFR Pt. 1002, App. C), which is used to comply with certain disclosure requirements under both the Equal Credit Opportunity Act (15 USCA §§ 1691 et seq.…

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Document Updates: North Carolina Notice of Information (Cx1271)

Pursuant to a review by our Legal team, Docutech is updating the print configuration of the North Carolina Notice of Information, (our Cx1271). Currently, Cx1271 prints only in the Initial Disclosure package, however, we are modifying the print configuration for Cx1271 to now print in both the Initial Disclosure and Closing packages….

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Document Updates: Various California Disclosures Referencing the Bureau of Real Estate

As previously announced (see https://compliance.docutech.com/2018/02/08/compliance-news-resurrection-california-department-real-estate/), the California Bureau of Real Estate will (again) be officially called the “Department of Real Estate” beginning July 1, 2018.

Consequently, we are modifying the following generic documents by changing all “Bureau of Real Estate” references to the “Department of Real Estate”:

• CA Fair Lending Notice (Cx991)
• CA Mortgage Loan Disclosure Statement (Cx2798)
• CA Mortgage Loan Disclosure Statement/Good Faith Estimate (Cx12922)
• CA Fair Lending Notice (Cx16170)
• CA REL Supplemental Disclosure (Cx19898)

While we are making an effort to modify all customizations on our generic documents pursuant to this name change,…

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Document Updates: Negative Amounts Disclosed on the CD (Cx18566 and Cx18991)

In a webinar dated April 1, 2016, the BCFP (aka CFPB) provided the following guidance (quoted in relevant part):

“Q. One question we’ve received relates to amounts paid by the consumer before closing. . . . if the consumer pays for a service before closing and the service ends up costing less than the amount collected by the creditor,…

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Document Updates: Changes to CA Per Diem Interest Disclosure (Cx878)

California per Diem interest law provides that “interest may accrue on the business day immediately preceding the day of disbursement if the borrower affirmatively requests, and the lender agrees, that the disbursement will occur on Monday, or a day immediately following a bank holiday.”…

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New Data Integrity Errors and Warnings and Document Update: VA IRRRL 36-Month Recoupment, Net Tangible Benefits, and Loan Comparison (Cx14501)

As announced previously, a lender certification has been added to the VA IRRRL Loan Comparison (Cx14501) to verify the borrower will recoup the closing costs within 36 months of closing.  In addition, a new VA IRRRL Net Tangible Benefit Form (Cx22343) prints to verify the IRRRL meets certain net tangible benefit requirements….

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Document Updates: W-9 Taxpayer ID (Cx22)

Cx22 is a duplicate of IRS Form W-9 (available directly at: https://www.irs.gov/pub/irs-pdf/fw9.pdf?). The instructions to Line 5 of this form state the following:

“Enter your address (number, street, and apartment or suite number). This is where the requester of this Form W-9 will mail your information returns….

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Document Updates: Rhode Island Tangible Net Benefit Disclosure (Cx11242)

Pursuant to a review by our Legal team, we will be updating the print configuration of the Rhode Island Tangible Net Benefit Disclosure (Cx11242) to more accurately reflect the requirement for producing this disclosure when refinancing an existing home loan that was consummated within the prior sixty (60) months per R….

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Document Updates: HUD/VA Addendum to Uniform Residential Loan Application (Cx20336)

After a recent review of our document library, we have updated the logic for Cx20336 to better reflect all options made available for occupancy status,  Question 25, which requests that the undersigned Borrower(s) certify information, of the HUD/VA Addendum to Uniform Residential Loan Application,…

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Document Updates: Minor Edit to NY Consolidation, Extension and Modification Agreement (Cx1583)

Section I “BORROWER’S AGREEMENT ABOUT OBLIGATIONS UNDER THE NOTES AND MORTGAGES” of our copy of FNMA Form 3172, NY Consolidation, Extension and Modification Agreement (Cx1583) contains the statement:

“The total unpaid principal balance of the Notes is U.S….

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Document Updates: Connecticut Private Mortgage Insurance Disclosure (Cx1029)

Currently, Connecticut Private Mortgage Insurance (PMI) Disclosure (Cx1029), is configured to print for all Connecticut first lien primary residences in the Initial Disclosure package where Monthly Mortgage Insurance = Yes. The requirements for Cx1029 state that it must be provided by “any mortgage lender who requires a borrower to pay for mortgage insurance as a condition of obtaining a first mortgage loan” (Conn….

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Document Updates: IL Security Assignment of Beneficial Interest in Land Trust (Cx4936)

As previously announced, FHLMC published Bulletin 2017-28 announcing new guidance concerning land trusts (see https://compliance.docutech.com/2017/12/15/compliance-news-fhlmc-bulletin-2017-28-updates-land-trusts-texas-home-equity-loans/). Among these changes included ones permitting lenders to use FHLMC Form 50 as a collateral assignment for land trust mortgages. We created this form and have assigned it to print for loans which will be sold to FHLMC,…

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Matrix Updates: Late Fees and Prepayment Penalties

As previously announced, Florida, Indiana, Minnesota, Oklahoma, and South Carolina have modified either some of their laws regarding late fees or the dollar amounts associated with their restrictions on late fees and prepayment penalties….

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New Document: VA IRRRL Net Tangible Benefit Form (Cx22343); Edits to VA IRRRL Loan Comparison (Cx14501)

As previously announced, Congress and the Department of Veteran’s Affairs (“VA”) have issued new rules affecting refinance loans guaranteed by the VA – particularly Interest Rate Reduction Refinancing Loans (“IRRRLs”).

Cx22343

One of these rules requires that “the issuer of the refinanced loan provide[] the borrower with a net tangible benefit test” (38 USCA § 3709[b][1]),…

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