D.C. Code Ann. § 42-1103(b-1)(2) requires the following (in relevant part):
“A purchase money mortgage or purchase money deed of trust submitted to the Mayor for recordation shall:
(B) Reference the deed conveying title to the purchaser of the real property by date and instrument number;…
In Bulletin 2015-004, U.S. Bank states they will no longer accept MERS mortgages for properties located in Maine for loans closing on or after April 1, 2015. This is due to the State Supreme Court of Maine ruling that loans with MERS as the original mortgagee on a Fannie Mae or Freddie Mac Uniform Security Instrument do not transfer the rights to foreclose:
“For all FNMA,…
New Document: Itemization of Fees (Cx19209)
Although the new Integrated Disclosure requirements will soon obviate the need for many familiar documents, some related disclosure requirements will remain in place. As previously discussed here,…
Pursuant to client inquiry, we are updating our generic Gift Letter (Cx17342), which was introduced in our previous announcement here. The updates to the Gift Letter center around providing one copy of the Gift Letter per gift per borrower….
The VA Lock-in Agreement is provided pursuant to the provisions of 10 Va. Admin. Code §5-160-30(B). The Agreement discloses to borrowers whether private mortgage insurance (PMI) is or is not required to be paid by them in connection with their loan….
While not required by any specific laws, we provide on a generic basis an “Errors and Omissions/Compliance Agreement,” in which the borrower agrees to correct, within 30 days of a written request, any clerical errors which they may have made on closing documents,…
Pursuant to an internal audit, the configuration of our generic copy of IRS Form W-9, Cx22 (“Request for Taxpayer Identification Number and Certification”), will be updated to only print for U.S. Citizens and Permanent Resident Aliens. The associated fields are set based on two questions from FNMA 1003,…
All of our conventional security instruments are duplicates of the FNMA Uniform Security Instruments published on their website (https://www.fanniemae.com/singlefamily/security-instruments). All of these instruments contain witness signature lines; however, all of their instructions allow for the removal of such lines under some (if not all) circumstances….
Cx3957 is DocuTech’s copy of VA Form 26-1880 Request for a Certificate of Eligibility, a model form provided by The Department of Veteran’s Affairs to help determine a veteran’s qualifications for a VA guaranteed home loan. We will be updating Cx3957 to match the VA’s updated version of this document….
Pursuant to our yearly audit of state-specific disclosures, we will be creating the following new documents which will print in loan packages for loans secured by property located in Florida:
FL Insurance Deposits Disclosure (Cx19232)
Fla….
Our “Recurring Announcement Concerning State-Specific Disclosure Edits Due to TRID” has been updated to include news concerning a Closing package-version of the new HELOC Itemization of Fees, as well as describing changes to 21 state-specific disclosures.
A “Waiver of Homestead” section is included in the North Dakota security instruments due to the following provision:
“A mortgage on a homestead which is executed after June 30, 1991, and which is not a purchase money contract must contain the following statement printed in a conspicuous manner:
I understand that homestead property is in many cases protected from the claims of creditors and exempt from judicial sale and that,…
Virginia recording requirements are addressed in Va. Code Ann. § 17.1-223(A), which states in relevant part:
“. . . unless a cover sheet is submitted with the writing in accordance with § 17.1-227.1, the clerk has the authority to reject any writing for recordation unless (i) as to any individual who is a party to such writing,…
ConformX software release 4.5.13 will include a modification to drop off the annual premium on Section 184 Indian Home Loan Guarantee Program loans differently than for regular FHA loans. For Section 184 loans, the annual premium will be charged through the payment year when a 78% Loan-to-Value (LTV) is first reached,…
These three documents are provided pursuant to the provisions of Or. Rev. Stat. Ann. § 86A.198, which requires translated versions of the Good Faith Estimate, TIL Disclosure, and a general disclosure to be provided to borrowers “in the language other than English in which a substantial portion of the communication that is related to the transaction takes place.”
The Oregon Department of Consumer and Business Services provides translated versions of these documents on their website,…
While Pennsylvania does not require a specific font size for recordable documents, it has been brought to our attention that Washington County in Pennsylvania will no longer accept documents for recording with a font size smaller than 12 point after January 31,…
Cx1010 is provided pursuant to the provisions of Ga. Code Ann. § 48-7-128 and Ga. Comp. R. & Regs. r. 560-7-8-.34 & 560-7-8-.35, for the purpose of certifying the fact that the seller is exempt from the state’s withholding tax requirements which are applicable to cases where a nonresident seller conveys real property….
Cx19212 (USDA/RD Origination Stacking Order Checklist – Attachment 15-A) is provided pursuant to the United States Department of Agriculture/Rural Development Single Family Guaranteed Loan Program Technical Handbook (HB-1-3555) Chapter 15.5.C.:
“Attachment 15-A provides lenders with an origination stack list to assemble the [loan application] documents and submit their request to the Agency [USDA/RD].”
Since Attachment 15-A is an optional form,…
This document is provided pursuant to the following provisions under Minnesota law:
“Unless the [escrow] account is exempt from the requirements of paragraph (a), a mortgagee shall allow a mortgagor to elect to discontinue escrowing for taxes and homeowner’s insurance after the seventh anniversary of the date of the mortgage,…
OTR Tax Notice 2014-11 (http://otr.cfo.dc.gov/sites/default/files/dc/sites/otr/publication/attachments/OTR_Notice_2014-11_Legal_3.pdf) notifies that the Recorder of Deeds of the District of Columbia began requiring the use of the November 2014 revised Form FP-7/C (ROD Form 1) on January 1, 2015.
The two major revisions to Form FP-7/C are:
…
