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:
…
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,…
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,…
