The “Informed Consumer Choice Disclosure” is a model form available online at FHA Model Documents SF. Regulations for this document require that the loan information table, which appears in the middle of the model form, be updated periodically to “reflect prevailing market conditions” (see 24 CFR § 203.10[d])….
Corresponding with our enhancement to ConformX to support Settlor Power of Attorney (POA) fields in signature lines (as announced in Oct Release Notes – Production Release Date – 10/06/23), we have modified the following generic documents to also support Settlor POA fields:
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Due to high interest rates, the Vermont Commissioner of Financial Regulation signed an order to suspend the disclosure requirements pursuant to Regulation B-98-2 (Vt. Admin Code 4-2-6) and Vt. Stat. Ann. Tit. 9 §104. Please see our announcement here….
*Please note the shortened testing period for this change at the bottom of this announcement.
As previously announced in October, Docutech asked for feedback regarding the removal of witness lines from Florida documents since witness lines are not required on mortgages per Fla….
These previously announced changes were originally planned to take effect December 27, 2023:
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Docutech is adding functionality to support alternate configurations for our copy of the SSA-89 Social Security Number Verification form (Cx5579). This change came about because some clients requested functionality to independently control whether copies of the SSA-89 for specific Borrowers are included or excluded in the package….
According to DC ST 42-818(a), a trustee is allowed to receive commission on the proceeds of sale in foreclosure. If the mortgage does not fix the rate of commission the trustee is entitled to the statutory rate. Our DC Second Deed of Trust (Cx474) had both the amount and the percentage for the rate of commission….
Docutech is updating the Texas version of HELOC Agreement (Cx21652) to include a new Paragraph 31 entitled “Intention to Comply with Texas Constitution” to make Cx21652 more consistent with the Fannie Mae Uniform Security Instrument provisions found in the third paragraph of Section 5 of the Texas Home Equity Note (Form 3244.1)….
After a document library audit, Docutech is updating TX Home Equity 3185 Affidavit and Agreement (Cx3442) to include a Home Equity Line of Credit (HELOC) version.
Currently, the first lien Home Equity version of Cx3442 matches Fannie Mae Model Form 3185….
After a document library audit, Docutech is updating contact information in the penultimate paragraph of Cx2688 – ID Mortgage Banker Application.
The contact information being updated is:
These changes are available for testing on Stage &…
After reviewing Cx6179, TX Home Equity Second Deed of Trust, we are adding Field 29917 “Previous Loan Recording Instrument File Number” to print in the Subordinate Lien Clause in paragraph 30.
The changes are available on Stage servers for testing and will take effect on December 19,…
As in previous years, the Consumer Financial Protection Bureau (“CFPB”) has updated a couple of the dollar amounts specified in various parts of Federal Regulation Z (12 CFR Pt. 1026), which amounts are required to be adjusted annually for inflation….
On July 28, 2023, Governor JB Pritzker approved Illinois House Bill 2717 which amends the Illinois Mortgage Escrow Account Act regarding notifications about terminating or continuing escrow accounts for higher-priced mortgage loans.
Cx1207 “IL Mortgage Escrow Account Act” and Cx16095 “IL Mortgage Escrow Account Act” are provided pursuant to 765 ILCS 910/11 and 38 Ill….
According to MD Commercial Law §12-805(d)(1) a “Finder’s fee” is not allowed to be charged unless it is pursuant to a written agreement between the mortgage broker and the borrower. The law in §12-801(d) defines the term “Finder’s fee” as “any compensation or commission directly or indirectly imposed by a broker and paid by or on behalf of the borrower for the broker’s services in procuring,…
Docutech is making a configuration update to the OK Title Protection Notice (Cx3851) to only print for purchase loans. Previously Cx3851 printed regardless of loan purpose and now it will print when Loan Purpose (FI 5991) is one of the following:
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After a review of the Wyoming lending laws applicable to the HELOC Mortgage Requirement, Cx1403, we have determined that under the section titled “RELEASE”, “to the extent permitted by law” should be added to clarify certain limitations on charging fees for a satisfaction of mortgage under Wyoming law may apply….
According to Rhode Island General Law §44-30-71.3 and 280 RICR 20-10-1.11, in a sale of real property and associated tangible personal property owned by a nonresident, the buyer is required to deduct and withhold on the payments an amount equal to six (6%) percent of the total payment to nonresident individuals,…
Minnesota Notary
Minn. Stat. § 358.14 requires:
“…if spouses join in and acknowledge the execution of any instrument, they shall be described in the certificate of acknowledgment in a manner that indicates they are married to each other…”
ConformX Software Enhancement
With the December ConformX software release,…
After a review of the Alaska Deed of Trust (Cx25280), we modified the heading for the recording address to state “After Recording Return To:” in place of “Return:”.
This change is available on Stage servers for testing and will be in effect on November 28,…
Our Fixed Rate Note Alabama Second, Cx1033, contains a notice near the bottom of the document that reads:
CAUTION — IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT.
This notice is provided per Ala….
