Investors are beginning to only accept the version of the homeownership counseling disclosure (Cx17874) with the actual list of ten homeownership counseling organizations located closest to the applicant instead of the interim notice, which only provides a website where the borrower may obtain the list themselves….
In the State of Georgia, when a security instrument is executed, it must be witnessed by at least two witnesses, as well as being acknowledged by a notary public (see Ga. Code Ann. §§ 44-2-14, 44-2-15, 44-2-21, 44-5-30, 44-14-33, 44-14-61,…
Tenn. Code Ann. § 47-23-101(a)(1) sets forth the following prohibition:
“When a borrower is required to keep real estate insured and to furnish evidence of such insurance to a lender as a condition for obtaining or keeping the loan,…
The Payment and Interest Rate tables displayed on the Truth-in-Lending Disclosures are required under 12 CFR § 1026.18(s). Depending on the type of loan, a number of columns must print displaying the interest rate and monthly payment through the life of the loan,…
Nev. Rev. Stat. § 111.220 states the following (in relevant part):
“In the following cases every agreement is void, unless the agreement, or some note or memorandum thereof expressing the consideration, is in writing, and subscribed by the person charged therewith:
4….
Ohio Rev. Code Ann. § 317.144(A)(1) directs that recorded documents be made with a “print size not smaller than a font size of ten.” Recently, Columbiana County stopped accepting documents for recording with a font size smaller than 12 point http://www.columbianacountyrecorder.org/recorder/services.php….
Pursuant to our yearly audit of state-specific disclosures, we will be making the following changes to the Utah-specific version of the Advanced Fee/Application Disclosure (Cx2783). This multi-state document is provided for loans secured by property in Utah pursuant to the provisions of Utah Code Ann….
2014 WV Laws HB 4012 was passed on March 6, 2014, with an effective date of July 1st of this year. The purpose of this bill was to revise state laws concerning notary publics, including the repeal of the Uniform Recognition of Acknowledgments Act (W.Va….
In addition to the notary acknowledgment requirements set forth in Part V, Chapter 502, Title 28 of Hawaii’s Revised Statutes, the Department of the Attorney General publishes a Notary Manual on its website (http://ag.hawaii.gov/notaries-public/notaries-public-documents/) which provides further expectations for notary acknowledgments….
The purpose behind providing Cx13441 is discussed here and here, which we currently provide one copy for in Initial Disclosure packages.
This document is an addendum to the loan application (which, in most cases,…
A handful of states generally require certain notices (usually containing prescribed text) to be provided to “co-signers, co-makers, guarantors, endorsers, sureties, or similar parties” (the documents we provide for these requirements are listed in parentheses):
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Utah Code Ann. § 61-2d-105(1) & (2) requires, in connection with a high-cost mortgage, a disclosure to be provided to the borrower forewarning them of the potential consequences of obtaining such a mortgage. We provide Cx3774 (UT High Cost Home Loan Disclosures) for this requirement….
The NY Interest Rate Lock Commitment (Cx3588) is required under N.Y. Comp. Codes R. & Regs. tit. 3, §38.4(a) to be given in connection with a mortgage loan in which either the proceeds of the loan are used to purchase a dwelling or commitment fees or points are paid to the lender….
This document is required under Idaho Code Ann. § 26-31-211(9) and Idaho Admin. Code r. 12.01.10.050(4) to be provided to a borrower within three business days (including Saturdays) after a lock-in agreement is executed. The content of this document duplicates the model Confirmation Agreement published by the Idaho Department of Finance on their website (http://finance.idaho.gov/Mortgage/MortgageForms.aspx)….
This document is provided pursuant to the provisions of Md. Code Ann., Com. Law §§ 12-125(c) (1), 12-922(c), & 12-1022(c) and Md. Code Regs. 09.03.06.06(c) (2), which requires a lender to provide the borrower with a commitment if any of the provisions of the financing agreement are subject to change or determination after its execution….
We are retiring Cx3836, because Cx3705 (which currently prints) fulfills Washington’s requirements. The document Cx3705 is provided pursuant to Wash. Rev. Code Ann. § 19.146.0201(14) (b) and Wash. Admin. Code §§ 208-620-700(3) & 208-660-300(7), and contains both statutorily and administratively-prescribed language….
2014 Miss. Laws ML No. 12 (H.B. 696) was recently passed which amended Miss. Code Ann. § 89-5-24(2) to clarify that “the name, mailing address and telephone number of every grantor, grantee, borrower, beneficiary, trustee or other party” to the security instrument be included on the first page of such instrument (as opposed to the business address)….
This document is provided pursuant to the provisions of Cal. Fin. Code § 50203(a)(3)(A) & (B), which requires lock-in agreements entered into by licensees under the California Residential Mortgage Lending Act to contain (at a minimum) certain disclosures.
Cx7442 discloses a “Loan Fee,” the amount of which is pulled from Field 27605 (Total Fees Paid to Lender)….
Currently the PUD/Condo Name (Field 537) is required to be filled out in ConformX for several document package types if the property is a PUD or Condo. Since the PUD/Condo Name does not print on any critical documents for most document package types,…
These two documents are provided pursuant to the provisions of Tex. Fin. Code Ann. § 156.105 and 7 Tex. Admin. Code § 80.201. Form A is provided in cases where a borrower is conditionally qualified for a loan. Form B is provided when a loan application is approved on the basis of the borrower’s credit worthiness,…
