This document is provided pursuant to the provisions of Mass. Gen. Laws Ann. ch. 167, § 14A, with the format of the document based upon the model form originally published under Mass. Regs. Code tit. 209, §§ 39.01 et seq.…
Pursuant to our audit of state-specific disclosures, we will be making the following modifications to our documents provided for loans secured by property located in South Dakota:
SD Mortgage Broker Agreement (Cx19356)
This new document is being provided pursuant to the provisions of S.D….
For ease of use, a signature for Borrower 1 has been added to the Trustor signature area on Cx471. In addition, the borrower name field has been added above the Trustor label to identify the borrower as the trustor.
This change will be effective immediately….
This document is provided pursuant to the provisions of 765 Ill. Comp. Stat. Ann. 930/15. In order to make it more compatible for loan transactions in which mortgage insurance premiums are being paid up-front, we will be make the following changes to the document:
1….
Per Ga. Comp. R & Regs. r. 80-11-1-.01, we are providing an acknowledgment of receipt of the RESPA and TILA disclosures (Cx14600, which is a multi-state document, as well as Cx2783), an advanced fee disclosure (Cx2783), and a foreclosure disclosure (Cx1011)….
Cx18565 is Docutech’s Loan Estimate given pursuant to 12 CFR § 1026.37. With the regulation now in effect, document changes and enhancements that impact all clients should be announced prior to implementation. The purpose of this Announcement is to serve as a recurring bulletin,…
Some second lien loan programs subject to TRID provide for deferred payments during the life of the loan, which life is based not on any separate, fixed period, but upon the extinguishment of a first lien loan extend simultaneously with the second lien loan….
This document is a duplicate of form HUD-92900-A, which is required under multiple sections of the new FHA Handbook (see FHA Single Family Handbook 4000.1 Pt. II, A.1.a.i.[A].[3], [B].[1], & [C][2], A.1.a.iii.[B], A.1.b.iii.[A].[3], A.4.e.i.[C], A.5.d.x.[B].[3] & [C], A.6.a.iv, vii, &…
According to 12 CFR § 1026.37(a)(9), there are four types of purposes which can be disclosed in the “Loan Purpose” section on page 1 of the LE. These are “Purchase”, “Refinance”, “Construction”, and “Home Equity Loan”.
According to these regulations,…
This new document was announcement previously on October 5, 2015 (see http://blog.docutechcorp.com/new-document-ca-rel-supplemental-disclosure-cx19898-and-other-california-modifications). Subsequent to this announcement, the California Bureau of Real Estate issued a revised Licensee Advisory requiring the following when the Loan Estimate is used in lieu of the “RE” forms:
“If compensation that is paid by a source other than the borrower cannot be disclosed on the Loan Estimate,…
South Carolina Senate Bill 356 (https://legiscan.com/SC/bill/S0356/2013) was enacted June 2, 2014, and amended Title 26, Chapter 1 of the Code of Laws of South Carolina 1976 Annotated, which prescribes a new requirement for notarial certificates for the verification or proof of the signature of a principal by a subscribing witness….
The Internal Revenue Service has revised forms 4506, Request for Copy of Tax Return, and 4506-T, Request for Transcript of Tax Return. Changes include the addition of language to the signature clause and the addition of an attestation clause….
Cx18566 is Docutech’s Closing Disclosure given pursuant to 12 CFR § 1026.38. With the regulation now in effect, document changes and enhancements that impact all clients should be announced prior to implementation. The purpose of this Announcement is to serve as a recurring bulletin,…
As previously announced in August, FNMA published a new version of FNMA Form 3049, which caused us to update our standard conventional and FHA West Virginia security instruments to match the revised form (see http://www.docutechcorp.com/document-changes-wv-deed-of-trust-cx359 for details).
In late September,…
The Ohio Division of Financial Institutions promulgated “Mortgage Brokers & Lenders Letter 2015 – 1” on October 2, 2015, advising registrants under the Ohio Mortgage Loan Act and registrants and exempt organizations under the Ohio Mortgage Broker Act of the relationship between certain state disclosure requirements and TRID (this Letter is not currently published by any Ohio government website,…
The Colorado Third Party Fees Disclosure, our “upon request” Cx16050, is given for the same reasons as the Itemization of Amount Financed in Colorado, pursuant to the provisions of 4 Colo. Code Regs. §§ 725-3:5.15 & 725-3:5.17. These provisions were recently repealed and Colorado,…
Cx17905 “Notice of Servicing Transfer” is given to the borrower to comply with the requirements of 12 CFR § 1024.33(b). In addition to these requirements, Ill. Admin. Code tit. 38, § 1050.820(c)(6) specifies that the notice must include “the name and address of the primary regulatory authority having jurisdiction over the residential lending activities of the entity to whom payments are to be sent.”…
As part of the changes Docutech is executing to prepare for TRID, we will be renaming some key fields to better reflect their expanded purpose under the new rules. These changes will be made in the new software testing environments first,…
The new FHA Handbook requires the following:
“The Mortgagee must obtain the Borrower’s authorization to verify the information needed to process the mortgage application. The Mortgagee must obtain a non-borrowing spouse’s consent and authorization where necessary to verify specific information required to process the mortgage application,…
On July 10th, we announced which state forms have not been updated for TRID as of that time (http://www.docutechcorp.com/new-document-trid-tila-respa-integrated-disclosure-disclaimer-cx19708). Most states have since been successful in amending their disclosure requirements to be compatible with TRID, but there are a few remaining requirements which are not compatible and still need changes….
