Outside of their Uniform Covenants, the other covenants in the FHA security instruments need to closely match the language found in the 1990-version of the FNMA/FHLMC Uniform Security Instruments, though the sections following Section 18 may be amended to conform to “state law or practice” (see FHA Single Family Handbook 4155.2 ch….
This document is required under W. Va. Code Ann. § 46A-2-104 to be provided to cosigners of consumer loans, before any loan instrument is signed, and it contains statutorily-prescribed language.
Pursuant to our yearly audit of state disclosures,…
Washington laws concerning rate-locks can be found in Wash. Rev. Code Ann. §§ 19.146.010 and 19.146.030(2)(c) & (3), as well as Wash. Admin. Code §§ 208-620-510(3) & (4), 208-660-006, and 208-660-430(3)(C) & (6) through (8). The Washington Department of Financial Institutions published a model Rate Lock Agreement on their website (http://www.dfi.wa.gov/cs/mortgage_forms.htm),…
FHLMC Bulletin 2014-6 amends FHLMC Single-Family Seller/Servicer Guide, Vol. 1 ch. 22.19 & 58.3.2 to remove the concerning rent loss insurance for property which is a primary residence containing two to four units.
Pursuant to instructions contained in this Bulletin,…
This document is required by 104 Ky. Admin. Reg. 1:010(4) to be given to borrowers by “a person or entity engaged in real estate or real estate-related transactions” at “the time of sale, purchase, rental, insuring or financing of real property,” and is a duplicate of the pamphlet entitled “Fair Housing Brochure” published by the Kentucky Commission on Human Rights on their website (http://kchr.ky.gov/reports/brochures.htm)….
Cx3472 (also known as the “MLODs” document), is provided pursuant to the provisions of Ohio Rev. Code Ann. §§ 1321.592(B) & 1322.062(A) and Ohio Admin. Code § 1301:8-7-15(A). A model form is published by the Ohio Department of Commerce’s website (http://www.com.ohio.gov/documents/fiin_MLODS.pdf)….
In order make Cx25 more compatible for use in various types of loan packages, such as Rural Development (RD) guaranteed loans, two textual edits will be made to Cx25, as follows:
1. The first sentence after the “Buydown Schedule” will be changed from “In order to comply with FNMA guidelines ….
Cx14305 is provided pursuant to the provisions of N.M. Stat. Ann. § 58-21-31(B) & (F) and N.M. Admin. Code 12.19.8.12(A). We will be making changes to the borrower signature line sections on page 1. If the loan is not locked (“Rate Lock Initiated” field is set to “No”) the borrower names and active eSignatures,…
The Georgia-version of Cx2783 is provided pursuant to the provisions of Ga. Code Ann. § 7-1-1014(1) and Ga. Comp. R. & Regs. r. 80-11-1-.01(1), (4), (6), & (7). We will be making minor textual edits to this version of the document….
If dates are not imported or entered into ConformX for the “Year or period requested” section of IRS Form 4506-T “Request for Transcript of Tax Return” and IRS Form 4506 “Request for Copy of Tax Return,” the first two dates are defaulted to the last two years of tax returns….
Pursuant to our yearly audit of state-specific disclosures, we will be making the following changes to the following documents:
New Document – VA Credit Insurance Disclosure (Cx18552)
This document is being provided pursuant to the provisions of Va….
Pursuant to our yearly audit of state disclosures, we will be making the following changes to the following documents which print in document packages for loans secured by property located in Wisconsin:
WI Mortgage Second (Cx515) and Fixed Rate Note Wisconsin Second (Cx1080)
Wis….
This document is provided pursuant to 13 different state laws which generally allow for the collection of advanced fees (i.e. fees paid before closing), if an agreement or disclosure is provided specifying such fees and whether they are refundable or not (and if refundable,…
This addendum contains two disclosures. The first is provided pursuant to the provisions of Cal. Civ. Code § 1812.30(j) informing applicants that if they are married they may apply for separate accounts. This provision applies to all mortgage entities in California….
Currently on our standard closing instructions, when “Loan Type” (Field 1066) equals “RD,” the acronym “FmHA” (referring to the Farmers Home Administration) is appearing in the “Loan Type” section of the document.
In order to be more consistent with the loan types disclosed on other documents (particularly the HUD-1),…
The data integrity check described in “New Data Integrity Check: US Bank Initial Disclosures Empty Homeownership Organizations Warning” has been removed from ConformX.
Per Bulletin 2014-25, US Bank has extended their deadline to provide the version of the homeownership counseling disclosure (Cx17874) that lists the actual counseling agency information indefinitely. …
17 Del. Reg. Regs. 994 (April 1, 2014) repeals many of the sections found in Chapters 21 and 22 of Title 5 of Delaware’s regulations, and re-enacts them with substantive changes. Due to these, we will be making the following revisions to several of our Delaware documents:
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Cx899 is provided pursuant to the provisions of FHA MLs 97-26 & 91-9 and is a duplicate of the form attached to the latter letter. The purpose of the form is “to put settlement agents on notice of borrower obligations regarding downpayment requirements” and to inform settlement agents “that,…
12 CFR § 1024.20 requires the lender or mortgage broker to provide the loan applicant a list of homeownership counseling organizations located closest to the applicant within three business days after receipt of application. List of Homeownership Counseling Organizations (Cx17874) was created in ConformX to fill this requirement….
We currently have two versions of the New Jersey-version of the multi-state document Cx2783. One version, for lenders, is provided pursuant to the provisions of N.J. Admin. Code § 3:1-16.3(a), which requires certain disclosures when an advanced fee is being charged….
