Cx15944 is provided due to the provisions of N.C. Gen. Stat. Ann. § 53-244.109, which requires (in relevant part) the following:
“Any mortgage broker engaged in the mortgage business as defined by G.S. 53-244.030(11)a,. in addition to duties imposed by other statutes or at common law,…
Cx13355 has been provided over the years for the provisions of 4 Colo. Code Regs. § 725-3:3-1-4-5(2), which required the following:
“Information provided to consumers should clearly explain the ramifications of prepayment penalties. Borrowers should be informed of the existence of any prepayment penalty,…
In connection with upcoming changes to Regulations B and Z concerning Appraisal Notices (see the section entitled “Appraisal Rules” in our article “The January 2014 CFPB Regulations,” located at http://www.docutechcorp.com/the-january-2014-cfpb-regulations for details), two new documents will replace our current Copy of Appraisal Report Notice (Cx6) for complying with the provisions of these two regulations….
We have received several calls from clients who, based on investor bulletins and feedback, are asserting that the name and NMLS information which are required, under 12 CFR § 1026.36(g), to print on the promissory notes and security instruments should begin printing on them starting January 10th,…
Section 20 of Regulation Z (12 CFR § 1026.20) has, for many years, required a post-closing servicing notice to be provided to consumers, in connection with loans in which the interest rate changes. This notice reminded the consumer of the upcoming change and how it will affect their payments….
Cx2792 is provided pursuant to the provisions of Wash. Rev. Code Ann. §§ 19.146.010(13) & 19.146.030(2)(c) and Wash. Admin. Code §§ 208-620-510(3) & (4), 208-660-006, and 208-660-430(3)(c). As published in Wash. State Register 13-24-023 & 13-24-024, several of these sections under the Washington Administrative Code were amended with effective dates of January 1,…
Previously, Subsection (D) of Section 21 of Regulation X (12 CFR § 1024.21[d]) required a “Transfer of Servicing” notice to be provided to a borrower by a servicer no less than 15 days before the effective date of the transfer of the borrower’s loan to another servicer….
The Department of Veterans’ Affairs (VA) publishes a “VA Guidance on Natural Disasters” on their website (http://www.benefits.va.gov/homeloans/documents/docs/va_policy_regarding_natural_disasters.pdf), which provides guidance to both borrowers , lenders, and servicers on how to handle their VA loans (whether pending or existing) when the subject property is located in an area affected by a natural disaster….
One of the new CFPB amendments to Regulation Z includes a small, yet significant, revision to 12 CFR § 1026.23(a)(3)(ii) regarding the Right to Rescind rules (see 78 FR 60440). Under Subsection 23(a)(2)(i), a consumer:
“. . ….
We are pleased to announce that the changes to our generic ARM Disclosures, as mentioned in the section named “Revised Notices on ARM Disclosures” in our article entitled “The January 2014 CFPB Regulations – Update” (available http://www.docutechcorp.com/the-january-2014-cfpb-regulations-update),…
Pursuant to our yearly audit of state-specific disclosures, we will be making the following changes to the following documents provided in connection with loans secured by property in California:
New Disclosures
We will be providing a new Request for Fair Lending Information (Cx18014) document,…
1) Missing Loan Originator Information at Closing Error
The CFPB has created a new subsection of Regulation Z (12 CFR § 1026.36[g]), which requires that the names and NMLS numbers of the loan originator primarily responsible for a loan and the loan originating company he works for be disclosed on different loan documents,…
Md. Code Ann., Com. Law § 12-913.1 permits a credit grantor to make a loan pursuant to Subtitle 10, Title 12 of Maryland’s Commercial Law, if such an election is made in the promissory note (or any other agreement evidencing the loan),…
The CFPB has created a new subsection of Regulation Z (12 CFR § 1026.36[g]), which requires that the names and NMLS numbers of the loan originator primarily responsible for a loan and the loan originating company he works for, be disclosed on several different loan documents,…
Earlier this year, 2013 Oregan Laws. Ch. 200 (H.B. 2528), which amended the definitions found in Ore. Rev. Stat. Ann. § 86.205 (West 2013), was passed into law with an effective date of January 1, 2014.
A significant change made by this bill was to the definition of a “real estate loan agreement” or “real estate loan” in Subsection (7) of the aforementioned section….
The Federal Itemization of Amount Financed disclosure, provided pursuant to 12 CFR 1026.18, has been modified to fit on letter-size paper. Currently, cx14224 and cx14644 print on legal-size paper by default, but this will be changed to have the documents print letter-sized by default….
We are pleased to announce that we have completed our new disclosure for fulfilling the requirements of 12 CFR § 1026.32(c) in connection with closed-end high-cost loans (HCLs), as described in more detail in our article entitled “The January 2014 CFPB Regulations” (available at http://www.docutechcorp.com/the-january-2014-cfpb-regulations)….
This past June, the Rhode Island Department of Business Regulation adopted revisions to R.I. Admin. Code 11-5-99, Sections 5, 7, and 8 of which require certain privacy notices to be provided by licensees under the Banking and Insurance Consumer Protection Act to customers (individuals with an established relationship with the licensee) and consumers (individuals seeking to obtain an insurance product,…
Cx3318 is provided pursuant to the provisions of La. Rev. Stat. Ann. §§ 9:3572.10 & 9:3527.11 (2013), sections of the Louisiana Consumer Credit Law which require a loan broker to provide to borrowers, in connection with a consumer or federally related mortgage loan,…
Cx15312 is a duplicate of the Model B-3/H-3 Form provided by the Federal Trade Commission, Federal Reserve Board, and Consumer Financial Protection Bureau pursuant to the provisions of 15 USCA § 1681m(h) (West 2012) and 12 CFR §§ 222.74(d)(1), 1022.74(d)(1),…
