As previously announced, Texas administrative law has been amended, which amendments include modifications to the “Texas Required Disclosure Form” set forth in 7 Tex. Admin. Code § 80.200.
We are updating our copy of this form (Cx3883) to match the latest revisions….
After performing a recent document audit, we have modified the Reasonable Means Disclosure (Cx12913) to better align with the model form. Some of the changes included: grammatical fixes, moving the property address line in between Date and Borrower, and modifying the layout/appearance of the check boxes that appear under the “Completed by Borrower”…
After reviewing how fields function on our copy of the HUD/VA Addendum to Uniform Residential Loan Application (Cx20336), we have added field functionality for questions: 22a, 23, 25(2), 25(a&b), and 25(6) that determines whether each box is checked on a per borrower basis rather than per loan….
After a recent audit of our IRS forms, the following is a list of the substantive edits to Cx22 – IRS Form W-9 (Request for Taxpayer Identification Number and Certification) and its custom copies. Several minor edits to Cx22 are not listed herein….
In 2015, we created two new Warnings in our system concerning the escrowing of flood insurance premiums (see the announcement about these at: http://blog.docutechcorp.com/document-changes-notice-of-special-flood-hazards-cx11-and-new-flood-insurance-warnings). In 2016, we removed one of these Warnings, due to the expiration of temporary provisions in Federal regulations (see http://blog.docutechcorp.com/data-integrity-update-flood-insurance-escrow-warning-and-new-field for further details)….
Amendments to Federal Regulation C which take effect on January 1, 2018 (see 80 FR 66128 [2015]) will require financial institutions to develop and report to Federal agencies a Universal Loan Identifier (“ULI”) for each covered loan in which the financial institution receives an application,…
Both FNMA and FHLMC announced updates to their uniform promissory notes, security instruments, and affidavit used for Texas home equity loans (see FNMA Ann. SEL-2017-10 and FHLMC Guide Bulletin 2017-28) due to the recently passed amendment to Texas’ Constitution (see our announcement here for an overview of the changes implemented due to the passed amendment)….
Following feedback from clients, Docutech is making further changes to the language of the Notary Acknowledgment for New Jersey security instruments. These changes including specific language that the instrument was executed as the maker’s own act, to more clearly demonstrate that the requirements of N.J….
As previously announced, FNMA Ann. SEL-2017-09 announced updates to FNMA Form 3044 “to reflect recent changes to state law that affect the date of foreclosure sales,”[1] with optional use effective immediately and mandatory use beginning with notes having dates of April 1,…
In October 2017, the content of FNMA/FHLM Form 3749 was added to the Maine Assignment of Mortgage (Cx1529) in ConformX. As announced previously, lenders must use the new Fannie Mae/Freddie Mac MERS Mortgage Assignment (Form 3749) for loans in Maine with a note date on or after January 1,…
As more detailed in another announcement on our website (see “Document Updates: Various Texas Home Equity Loan Documents”), we are making changes to documents provided for Texas home equity loans (aka “Texas 50[a][6] loans”) and for the new rate-and-term refinance of such loans (aka “Texas 50[f][2] loans”),…
“Print 1003 Demographic Information Addendum” (field 108997) is used in ConformX to trigger the 1003 Demographic Information Addendum (Cx20787) and Spanish Translation Aid 1003 Demographic Information Addendum (Cx20788). These documents are provided to enable financial institutions to collect information required under the Home Mortgage Disclosure Act (“HMDA”) and Equal Credit Opportunity Act (“ECOA”). …
As previously announced (http://blog.docutechcorp.com/compliance-news-ohio-updates-prepayment-penalty-adjustment-2018), changes have been made in Ohio to increase the dollar amount used to determine whether a prepayment penalty may or may not be assessed on a first lien residential mortgage obligation from $88,503 to $89,261….
As previously announced, we have implemented certain changes to our Texas documents due to the recent passage of amendments to Tex. Const. art. 16, § 50 (http://blog.docutechcorp.com/document-updates-various-texas-home-equity-loan-documents-2). These changes included support for amendments to the 12-day notice required for Texas home equity loans (under Ibid.…
A copy of the Gift Letter (Cx17342) prints for up to four gift amounts entered per borrower in Processing and Verification document packages when the “Gift Letter” indicator (field 40622) is set to “Yes”. A default copy of the Gift Letter (Cx17342) prints for the first borrower even when there are no gift amounts that populate for them….
Following a standard review of our document library, we are making a change to our New York Lock-In Agreement (Cx5099). In the past, under rare circumstances, a lock-in fee date could be present when there was no lock-in fee. As a result,…
Following a standard review, Docutech is making a change to our Virginia Mortgage Loan Commitment Agreement (Cx14686). Currently, the Private Mortgage Insurance line in section 8 reads:
Section I of the Uniform Residential Loan Application, “TYPE OF MORTGAGE AND TERMS OF LOAN,” requires the number of months of the loan term to be disclosed. After a review, it was determined that Construction-to-Permanent transactions should include both the construction phase and the permanent phase in the loan term….
Following a standard review of our document library, we are making the following changes to (Cx4983):
The Cooperative Corporation Name will print beneath the signature line populated by the “Cooperative – Company Name” (Field 27657).
The “by” and “Title” lines will be left empty to be filled out by the appropriate party signing on behalf of the Co-Op….
On November 7, 2017 voters in Texas approved (by approximately 68.60%) Proposition 2, effectively passing Tex. S.J.R. 60 (2017) and amending Tex. Const. art. 16, § 50. Details about some of the changes made by this amendment can be found at: http://blog.docutechcorp.com/time-texas-home-equity-overhaul-texans-set-amend-constitution….
