As previously announced, FNMA has issued new instructions to Form 3749, which includes the following, new requirement:
“1. Lenders MUST revise the second paragraph under ‘DEFINITIONS’ as follows to include the original principal amount of the mortgage being assigned if the Lender is recording a first-lien mortgage and subordinate-lien obligation on the same day:
‘Mortgage’ means the mortgage assigned hereunder,…
Pursuant to a review, it was decided that our New Jersey security instrument notary acknowledgments should be modified to more closely conform to the Certificate of Acknowledgment Illustrations from the New Jersey Notary Public Manual found at http://www.state.nj.us/treasury/revenue/dcr/geninfo/notarymanual.shtml….
Pursuant to a recent review of our copy of Fannie Mae Form 3026, MO Deed of Trust (Cx333), we are slightly modifying the items and spacing on the first page in an attempt to get the Legal Description paragraph to begin on the first page,…
On November 7, 2017 voters in Texas approved (by approximately 68.60%) Proposition 2 (https://enrpages.sos.state.tx.us/public/nov07_320_state.htm), 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….
This document is provided pursuant to the provisions of Ind. Code Ann. §§ 23-2-5-9 & 23-2-5-23 and Ind. Admin. Code tit. 710, r. 1-22-5 and is a duplicate of the model “Approved Indiana Loan Broker Agreement” published by the Indiana Secretary of State on their website (http://www.in.gov/sos/securities/4451.htm)….
Both of these documents (Cx20787 and Cx20788) are provided in order to enable financial institutions to collect the disaggregated demographic information required for the Home Mortgage Disclosure Act (“HMDA”) reporting requirements outlined in 12 CFR § 1003.4, along with certain protected information required under the Equal Credit Opportunity Act (“ECOA”) requirements under Ibid.…
According to Wyoming Statute § 40-23-114(d), a broker cannot increase broker fees to the borrower unless it meets certain requirements. The statute reads:
(d) A mortgage broker shall not receive any fee that inures to the benefit of the mortgage broker,…
N.J. Stat. Ann. § 58:12A-27 states:
a. Every contract of sale of (1) real property the potable water supply for which is a private well located on the property, or (2) any other real property the potable water supply for which is a well that has less than 15 service connections or that does not regularly serve an average of at least 25 individuals daily at least 60 days out of the year,…
Oregon requires certain information to be disclosed on the first page of the security instrument. Among these items is the requirement prescribed by Or. Rev. Stat. § 205.234 (1)(g):
“For instruments that assign a mortgage or trust deed,…
Three different versions of the model “Notice of Special Flood Hazards” form (see 12 CFR § 208.25, App. A) were previously available in Cx11:
…
Cx15312 is a duplicate of the Model B-3/H-3 Form provided by the Federal Trade Commission, Federal Reserve Board, and Consumer Financial Protection Bureau pursuant to the provisions of 15 USCA § 1681m(h) and 12 CFR §§ 222.74(d)(1), 1022.74(d)(1), and 16 CFR § 640.5(d)(1)….
On October 6, 2017 the Illinois Department of Financial and Professional Regulation adopted various amendments and repeals to Ill. Admin. Code tit. 38, Pt. 1050. These include the following provisions, for which we provide documents:
Amended Provisions
…
Cx995 and Cx997 are both provided pursuant to Mich. Comp. Laws Ann. § 211.7cc, which was recently amended (see 2017 Mich. Legis. Serv. P.A. 121 [H.B. 4335]; http://www.legislature.mi.gov/(S(vdgtej40qs21rxnzjrlnpidl))/mileg.aspx?page=BillStatus&objectname=2017-HB-4335). We have reviewed these documents against these amendments to ensure compliance and will be updating Cx995 to match the latest revision of Michigan Dep’t of the Treasury Form 2368,…
After a recent audit of our VA forms, the following changes were made to Cx52 and Cx17513 to more closely align with the model forms provided by the VA:
Edits to Cx52 – VA Form 26-1820 Report and Certification of Loan Disbursement:
…
Under Iowa Code Ann. § 537.2502(1)(b) through (3), an interest-bearing consumer credit transaction (e.g. a junior lien mortgage loan, the principal amount of which is equal to or less than the threshold amount set forth under 12 CFR § 1026.3(b)(1) and its associated Official Staff Commentaries) limits the amount of an assessed late charge to 5% of the unpaid amount of the installment,…
42 Pa. C.S.A. § 8144 says, in part:
“In addition to any other indebtedness, a mortgage may secure…advances made under a construction loan to enable completion of the improvements for which the construction loan was originally made, if such mortgage states that it shall secure such unpaid balances.”…
As reported in Docutech’s Compliance News on March 7, 2017, FNMA announced upcoming changes to the Fannie Mae/Freddie Mac Maine Mortgage Assignment form for mortgages being registered in the MERS System. (http://blog.docutechcorp.com/compliance-news-fnma-to-change-maine-mers-instructions)
In follow up to their March 7th announcement,…
After a recent audit of our Illinois Security Land Trust forms, the following changes were made to Cx4936:
…
As previously announced, the New Jersey Department of Banking & Insurance has published a new model form (“NJ Application Disclosure Form”) which will be required for use in complying with the provisions of N.J. Admin Code 3:1-16.3 “beginning on January 1,…
Minn. Stat. Ann. § 58.13(1)(a)(12) stipulates that:
“(a) No person acting as a residential mortgage originator or servicer, including a person required to be licensed under this chapter, and no person exempt from the licensing requirements of this chapter under section 58.04,…
