Fannie Mae has updated their instructions for the Loan Modification Agreement (Form 3179). These changes include the required inclusion of two new provisions for mortgage loans secured by property in New York and updated provisions related to MERS….
With Docutech’s ongoing effort to make all generic documents in its library electronically signable, Cx3846 “Right to Choose Attorney” and Cx1097 “IL Right to Choose Title Insurance” are now available with a generic option for eSign.
In addition to the eSign option,…
Pursuant to our monthly audit of federal agency forms, we have updated Cx19212 “USDA/RD Origination Stacking Order Checklist – Attachment 15-A.” and Cx18894 “Guaranteed Rural Housing Lender Record Change – RD 3555-11”.
Included in the Cx19212 updates are:
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Docutech continues to update our document library and system settings to modernize documents and make them as consistent as possible with the 2021 versions of the GSE uniform instruments. The following changes are being made to remove old settings related to the pre-2021 uniform instruments and support the implementation of our revised FHA instruments….
March 21, 2024, Wisconsin 2023 Senate Bill 773 was enacted. This bill repealed a few provisions relating to mortgage disclosures in the state of Wisconsin.
One law that was repealed was Wis. Stat. Ann. § 138.052(7e). This section of the law previously required certain disclosures when an adverse action was taken by a bank,…
We made a minor update on Cx25287 (DC Mortgage Deed of Trust) and Cx26124 (DC FHA Deed of Trust) by adding a field to disclose the subdivision. The FNMA model form (3009) in the Transfer of Rights in the Property Section has a space to input the lot,…
CA Insurance Code § 770 prohibits a lender to require the use of a particular insurance agent or broker. Additionally, § 772 requires the borrower to be given a written statement disclosing that the borrower has a choice in the insurance agent or broker that is used….
There are two statutes that authorize lenders in Kentucky; a general licensing statute for mortgage loan brokers and mortgage loan companies (found in Ky. Rev. Stat. § 286.8-010 et seq.), and the consumer loan company statute (Ky….
If the ConformX fields used to populate the “Year or period requested” sections of IRS Forms 4506-C “IVES Request for Transcript of Tax Return” and 4506 “Request for Copy of Tax Return” are not set, the first two loan level dates default to the last day of the previous two calendar years….
As previously announced, we have created a revised set of FHA security instruments and notes that are based on the 2021 (effective 2023) GSE forms. In response to feedback from our clients, we have adjusted the previously announced timeline for the rollout of these new forms….
We have recently reviewed the laws pertaining to the affixation of Georgia manufactured homes, specifically O.C.G.A §8-2-181(C) which states “The Certificate of Permanent Location shall be in a form prescribed by the commissioner…”.
Form T-234, Mobile-Manufactured Home Certificate of Permanent Location,…
Pursuant to our monthly audit of federal agency forms, we have made updates to Cx26687 “REQUEST FOR A CERTIFICATE OF ELIGIBILITY” – VA Form 26-1880, to mirror the formatting changes made by the VA. Please note:
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Pursuant to our monthly audit of federal agency forms, we have updated IRS Form W-9 “Request for Taxpayer Identification Number and Certification” (Cx22). The new March 2024 version replaces the October 2018 version.
In the General Instructions under “What’s New,” it states:
“Line 3a has been modified to clarify how a disregarded entity completes this line….
It has come to our attention that some county recorder offices in Washington State are requiring that the Trustee name appear on the first page of Deeds of Trust per Rev. Code of Wash. Ann. § 61.24.020.
Consequently,…
The Demographic Information Addendum (DIA) is provided 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. Docutech’s copy of the DIA appears as part of the 1003 Uniform Residential Loan Application (our Cx20667),…
We have made some language updates to Cx9348 (Borrowers Notification) to better track the language found in the FHA Handbook. FHA Handbook 4145.1 Chapter 6-3(C)(1) and (2) has a provision about Firm Commitments and requires a mortgagee to include in its certification that the borrower was notified in writing that (1) the property was not approved for mortgage insurance or loan guarantee prior to beginning of construction;…
A coding error that left an orphaned asterisk at the end of the phrase “Monthly Payments of*” in the second column of the payments table has now been fixed in Cx4479 – NJ Commitment Letter.
When Field 99 “Amortization Type” = Fixed (0),…
There are two Louisiana licensing schemes related to mortgage lending:
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To be more in alignment with the Consumer Financial Protection Bureau’s Escrow Disclosure Public Guidance Documents, in Cx7605 “Escrow Account Disclosure Enhanced Fees,” Docutech has added beneath the document title “Initial Escrow Account Disclosure Statement” the following language:
Lender/Servicer:
Address:
Telephone:
To allow for these areas to be filled out,…
We are making some adjustments to our Cx2411 (HELOC Mortgage – HI) and Cx3027 (HELOC Deed of Trust – MT). Hawaii and Montana do not have requirements for witnesses to be present during the execution of the security instrument nor to be recorded with the county recording office….
