For pre-TRID loans, the construction period was not considered in the default ConformX GFE/HUD-1 calculations for FHA and VA construction to perm loans. This impacted the “Loan Term” and initial “Interest Rate” sections of the Loan Estimate and Closing Disclosure….
The California Request for Fair Lending Information (Cx18014) is provided pursuant to the provisions of Cal. Code Regs. tit. 21, § 7114.1. Since we now print the California Fair Lending Notice on the companion document Cx16170, we no longer need the citation for Cal….
FHA’s Single Family Housing Policy Handbook (SF Handbook; HUD Handbook 4000.1) III.A..2.d.ii Late Charges section requires that late charges assessed shall not exceed 4 percent of the overdue payment of principal and interest on mortgages assigned an FHA case number on or after March 14,…
The Maryland Application Disclosure, our Cx3579, is required to be provided pursuant to Md. Regs. Code. 09.03.06.09(C). We were previously printing this document for any loan purpose. However, due to some feedback from the Maryland Department of Labor, Licensing and Regulation,…
Pursuant to a recent audit, we will be modifying our FHA West Virginia Deed of Trust to more closely match the FHA model Mortgage Forward and the recently updated FNMA model WV Deed of Trust. The following changes will be made:
“However,…
Pursuant to a document review, we will be making a change to our FHA Alaska Deed of Trust (Cx19359) to bring it more in line with the current Fannie Mae/Freddie Mac Uniform Instrument and the other FHA Deeds of Trust in our document library….
SC Mortgage Broker Fee Agreement for Financial Services (Cx3525)
S.C. Reg. 28-400(C)(2) and S.C. Code Ann. §§ 37-23-45, 37-23-75, 40-58-75 & 40-58-78(A) require mortgage brokers to keep on file mortgage broker agreements entered into with borrowers….
Per a recent review of these documents, we will be making a few changes.
Cx19493 Addendum to Closing Disclosure
Cx19493 is the Addendum to Closing Disclosure that prints for TRID loans. To avoid confusion for refinance loans,…
In a previous announcement, we updated our Vermont Security Instruments to add a notary witness line due to the inclusion of FNMA Instruction No. 10, which stated: “Lenders MUST have the notary sign the blank that appears to the left of the second Borrower signature line on Page 16.”
However,…
DocuTech will be updating our Washington Broker Application Disclosure (Cx2655) to conform to the new model form released here by the Washington State Department of Financial Institutions. The revisions were designed to conform to the requirements of the Washington State Mortgage Broker Practices Act,…
Pursuant to a disclosure review, we will be making three changes to our California Loan Commitment (Cx16083) to bring it more in line with the other Loan Commitment disclosures in our document library. First, the Loan Terms section of Cx16083 will be expanded to include: 1) an indication of whether the loan is a fixed rate or adjustable rate loan;…
We have made some modifications to our Security Instruments and Assignments for Washington State per RCW 65.04.045(1)(e), which states, in part:
“The information provided on the instrument must be in substantially the following form:
Grantor(s)
Grantee(s)”
We will be listing the Grantors and Grantees in the format above to display on the first page below the document title….
The Mississippi Department of Banking and Consumer has relocated its offices. Consequently, we have updated our MS Mortgage Origination Agreement/Fee Disclosure Agreement (Cx3315) and our MS Mortgage Origination Agreement (Cx16158) to reflect the new address.
The new address is:
Mississippi Department of Banking and Consumer Finance
P.O….
DocuTech has added Illinois Interpreter Form (Cx20077) to our document library to comply with 851 Ill. Comp, Stat. Ann 505/2N. This Illinois Statute requires that when a transaction, or negotiations related to a transaction, result in a written contract and the transaction is conducted in a non-English language,…
On January 20, 2016, the Department of Veterans Affairs released Circular 26-16-03, Exhibit A, found here. FAQ #9 on Exhibit A asked, “Are pre-paid expenses, such as real estate taxes and home owners’ insurance counted in total closing costs for the 36-month recoupment period?”…
Our MA Loan Origination and Compensation Agreement is given per Mass. Regs. Code tit. 209, §§ 42.12A(5) & 42.16. Due to client feedback, we will be changing two date fields on Cx5112. The date field in the sentence,…
Although we have made significant efforts to determine Loan Purpose on the Loan Estimate and Closing Disclosure using existing data (see our announcements on the subject here and here), there are still a few exceptional cases where the current data does not translate well into a Purpose for the LE and CD….
The following changes have been made in ConformX to support Home Possible Mortgages:
…
Loan Purpose
Purchase
The CFPB has provided guidance that the word “acquisition” determines whether a transaction should be considered a “Purchase” or not:
“The Bureau believes that the general understanding of a “purchase” loan is one where the consumer does not already hold an interest in the property….
Montana’s Department of Administration recently amended ARM 2.59.1710(1)(c), RECORDS TO BE MAINTAINED BY MORTGAGE BROKERS, and ARM 2.59.1724(7)(q), RECORDS TO BE MAINTAINED BY MORTGAGE LENDERS, to require mortgage lenders and mortgage brokers to maintain “copies of the loan estimate and closing disclosures required by the Truth in Lending Act – Real Estate Settlement Practices Act (TILA-RESPA) Integrated Disclosure (TRID) rule,…
