We are updating the default print configurations for several Illinois escrow documents to have them only print for single unit properties.
The legal requirements for these documents refer to “single family secured real estate” or “single family owner-occupied residential property”. …
We have made updates to Cx16043 Wisconsin Explanation of Personal Obligation. This document is provided pursuant to Wis. Rev. Stat. 422.305(1) and is only required if each borrower does not receive their own copy of each instrument, document, agreement and contract….
NY Banking Law §590-a(2) contains provisions that require junior lien contracts, notes or instruments to include certain types of provisions. On particular provision in (2) states: “The contract, note or instrument must allow the borrower to prepay the loan in whole or in part without penalty and must contain the notice:
DEFAULT IN THE PAYMENT OF THIS LOAN AGREEMENT MAY RESULT IN THE LOSS OF THE PROPERTY SECURING THE LOAN….
We have made updates to our Cx801 Tax Information Authorization form. This form is a duplicate of IRS Form 8821. This document is an upon request document and is used by a limited number of clients. It was previously a static form and information had to be hardcoded to add it to the form….
As previously announced, the Federal Housing Finance Agency released an announcement on May 1, 2024 regarding Enterprise Reconsideration of Value policies. ROV policies and disclosures must be in effect by August 29, 2024 for Fannie Mae and Freddie Mac,…
The Summaries of Transactions on the Closing Disclosure contains both “Adjustments for Items Paid by Seller in Advance” (in Sections K and M) and “Adjustments for Items Unpaid by Seller” (Sections L and N). Each of these prorated items can be one of many different types of tax or insurance premiums….
According to Ga. Comp. R. & Regs. 80-11-1-.01(3) & (6), all disclosures required by federal law for Home Equity Lines of Credit (HELOCs) must be acknowledged in writing by the applicant, with one copy of that acknowledgment kept by the mortgage loan originator,…
Three states updated their late fee requirements on July 1st. As a result, the following adjustments have been made to the Late Fee Matrix and the ConformX Late Fee Table, both of which have been republished on the Matrices webpage:
Oklahoma:
As per annual requirements,…
In order to improve the process of completing Cx12873 (Colorado Net Tangible Benefit Disclosure) we have updated the logic connected to the selections.
Previously, if the refinance was an adjustable rate mortgage, the ARM line which states “If the new loan is an adjustable rate mortgage,…
We are updating the following VA Form to reflect updates recently published by the VA. The affected form is VA Form 26-1852 – Description of Materials (Cx17488). The main update is the Respondent Burden Notice section at the top of the form….
According to NJ Stat. Ann. §17:11C-78(a) a second mortgage loan shall “be in the form of a promissory note for a closed-end loan, and in the form of a loan agreement for an open-end loan, and shall be identifiable by the use of the words “SECONDARY MORTGAGE LOAN” printed prominently,…
In Docutech’s ongoing efforts for having consistency throughout its documents, the “Return To” section of Cx478 “Hawaii Mortgage Second” has been updated to reflect the formatting in Cx25290 “3012 HI Mortgage 2021.” The main change is that the “Mail” and “Pickup” checkboxes have been removed from the “Return To” section of Cx478 “Hawaii Mortgage Second” since they are not required by the recording requirements found in HRS § 502-31(e)….
Document Updates: Optional Beneficiary/Lender Name and Address on the Security Instrument
Beneficiary/Lender on Security Instrument Name (FI 294) and Beneficiary/Lender on Security Instrument Full Address (FI 15290, consisting of Address FI 296, City FI 293, State FI 295,…
Two PUD and Condo riders were printing in standard second lien Texas Home Equity second lien packages. The duplicative non-Texas Home Equity copies have been set to only print when “Is this a Texas Home Equity Section 50(a)(6) loan?” (FI 29932) is set to ‘No’:
These changes are available for testing on Stage &…
We are updating a field associated with the borrower’s name on several riders. In the security instrument, the term borrower is more closely associated with vesting as opposed to someone that is a credit applicant. As the rider is an amendment to the security instrument,…
We previously updated our Georgia version of Cx43, Manufactured Home Affixation Affidavit, to print the Georgia Form T-234, Mobile-Manufactured Home Certificate of Permanent Location, in place of the generic non-state specific language.
We originally made this change to follow our general policy to utilize state model forms whenever possible….
Recently, Wisconsin enacted Senate Bill 773 which repealed certain disclosure requirements. As we previously announced, we determined that while the disclosure was no longer required by Wis. Stat. Ann. § 138.052(7e), the disclosure was still required under Wis….
Several pre-TRID documents and one state document are being modified to use a consistent set of Payoff/Payment fields in order to expand those fields out to 99 payoffs to match the current capability of the standard TRID documents. Document logic is being changed to print the “Payoff/Payment [xx] Payee” series of fields,…
Conn. Gen. Stat. § 20-325c(a) requires a disclosure to be made when a real estate broker or salesperson is also acting as a mortgage broker on a transaction. Specifically, the statute states “no real estate licensee, and no person affiliated with such real estate licensee,…
As previously announced in https://compliance.docutech.com/2024/05/08/compliance-news-va-announces-new-document-va-form-26-10291-assumption-entitlement-acknowledgement/, Docutech has created a new document, cx27569, in response to the Department of Veterans Affairs’ Circular 26-24-9, which introduced new VA-Form 26-10291 Assumption Entitlement Acknowledgement. This new document mirrors the VA Form in formatting and content….
