Recent VA Circular 26-16-11 says:
“5. Documentation and Submission of TRID CD. A final borrower signed copy of the TRID-CD is required on all loans. If completed properly, no additional itemization of lender or seller credits is necessary.”…
Pursuant to Docutech’s new article, Rounding for the Loan Estimate and Closing Disclosure, we will be making some changes to the Loan Estimate (Cx18565) and Closing Disclosure (Cx18566) to allow clients to control the rounding, truncating, and trailing zeros on the Integrated Disclosures….
The following subsections of law were repealed:
As a result, we will no longer be printing or maintain the documents created pursuant to these subsections….
The following subsections of law were repealed by 2016 Colo. Legis. Serv. Ch. 17 (S.B. 16-014):
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Due to a recent audit, for FHA case number assignment dates of 9/14/2015 and later, Docutech is updating the Waiver section of the Texas-specific version of our FHA Notes (Cx36, Cx861, and Cx13045). While the pre-September 14, 2015 version of the FHA Handbook required language in regards to notice of intention to accelerate in the Waiver section,…
The revised HUD/VA Addendum to Uniform Residential Loan Application (Cx20336) is now available for testing on ConformX Stage servers. This new document is a duplicate of updated HUD-92900-A, announced in FHA Mortgagee Letter 2016-06,…
We have recently completed an audit of our copy of the FNMA Closed End Second PUD Rider (Cx2483). In order to more closely conform to the text of the FNMA Multistate Planned Unit Development Rider, we will be changing Covenant B to refer to Property Insurance instead of Hazard Insurance throughout the Covenant text. …
In light of a specific instance brought to our attention, we will be making a slight modification to our Statement of Credit Denial, Termination or Change (Cx15858). Per 12 C.F.R. § 1002.9(a)(2)(ii), when there is a denial of credit a notification must be given to the applicant. …
During a document audit, it was brought to our attention that the “No. of Months” box in Section I of the Uniform Residential Loan Application has been formatted to show the Loan Term twice. While this may be applicable for balloon loans,…
In February of last year, Equifax informed their customers that a specific address and telephone number must be used in connection with adverse action letters and credit reports. The address given in the notice was as follows:
Equifax Mortgage Services
815 East Gage Dr.,…
Due to a recent audit of our second lien security instruments, Docutech is updating several sections of the Non-Uniform Covenants to more closely match the first lien guidelines from FNMA. Some changes are state specific, but general changes to most forms are as follows:
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If fields in ConformX for the “Year or period requested” section of IRS Form 4506-T/4506 “Request for Transcript/Copy of Tax Return” are not set, the first two dates default to the last day of the previous two calendar years. Currently these two date fields are defaulted to “12/31/2014” and “12/31/2013.”
Since the federal income tax return filing deadline is tomorrow,…
USDA-RD has updated their Conditional Commitment for Single Family Housing Loan Guarantee model form (RD 3335-18). Accordingly, Docutech will be updating Cx18892 to conform with the new model form. The changes consisted of mostly minor text edits, but there are two changes of note….
Pursuant to a state audit, Docutech will be updating the print configuration of our Oregon Escrow Account Statement (Cx2761), which prints per the instructions in Oregon Statute § 86.270 for applicable real estate loan agreements. The reason behind this change is based on a review of Oregon Statute § 86.205,…
Update: Upon further review by our Legal team, we will not be implementing these changes at this time. We will be publishing a comprehensive Integrated Disclosures rounding article in the near future.
On the Loan Estimate (Cx18565) 12 CFR 1026.37(o)(4)(ii) directs that the APR percentage “shall be disclosed up to three decimal places….
One of the changes announced last month was to print “NO” for the question “Can this amount increase after closing?” in the payment row of the Loan Terms section of the LE and CD if the payment cannot increase. …
Nev. Rev. Stat. § 645B.0147(c) states the following:
“Any person licensed pursuant to this chapter has a fiduciary obligation to a client. Fiduciary obligation means a duty of good faith and fair dealings, including, without limitations, the duty to:
(c) Disclose any financial,…
Pursuant to a recent audit, we will be modifying our FHA New York Mortgage (Cx19390) to more closely match the FHA Model Mortgage Forward. The text of paragraph (a) “Borrower’s Obligations” in the third Uniform Covenant will be changed to:
“I shall pay to Lender on the day Periodic Payments are due under the Note,…
Our IL Pledged Time Deposit Account Disclosure (Cx1014) is provided pursuant to 765 Ill. Comp. Stat Ann. 910/6 and Ill. Admin. Code tit. 38, § 1050.1110(f). We also created IL Pledged Time Deposit Account Disclosure- Example (Cx14180) to provide a sample version that can be disclosed early on in the loan process….
California Bus. & Prof. Code § 10240 requires certain disclosures regarding balloon payments. Subsection (c) of the statute allows the lender to use the GFE, TIL, and a separate disclosure for the balloon payment. The balloon disclosure either needs to be approved by the Commissioner,…
