Form HUD-92541 is required by various rules promulgated by FHA, in connection with construction properties (see, for example FHA Single Family Handbook 4145.1 REV-2, CHG-1 ch. 3 & 6-3; Handbook 4150.2, CHG-1, ch. 4-3 & 5-1; and Handbook 4155.2 ch….
As announced previously, the “FHA Case Number Assignment Date” field triggers updated versions of two standard FHA documents in ConformX when applicable:
1) “Important Notice to Homebuyers” form HUD 92900-B (Cx40) and
2) “Informed Consumer Choice Disclosure Notice” (Cx41)….
Cx4480, the New Jersey Interest Rate Lock-In Agreement, has been modified to clarify that a refund of the lock-in fee will not be applied as a credit to other fees, and to add additional conditions concerning for the guarantee of other fees which are based on the “substantial fault of the borrower” definition found in N.J….
Ohio Rev. Code Ann. § 1345.05(A)(4) & (G) (West 2012) and Ohio Admin. Code 109:4-3-29 (2012) both require an “Informational Document,” published by the Ohio Attorney General (available for download at: http://www.ohioattorneygeneral.gov/Files/Forms/Forms-for-Business-and-Nonprofit/Required-Mortgage-Loan-Disclosure-Forms ) to be available for distribution to consumers when they apply for a mortgage loan….
When a creditor desires to verify the social security number (SSN) of a loan applicant, he may do so by submitting to the Social Security Administration an executed copy of the “Social Security Administration Authorization for the Social Security Administration (SSA) to Release Social Security Number (SSN) Verification” form (SSA-89),…
FHA Single Family Handbook 4155.2 ch. 6 & 12 provide instructions on how to create mortgage forms which are acceptable to FHA. While the Uniform Covenants of such documents are required to follow (verbatim) the Uniform Covenants of the FHA Model Mortgage Form,…
2013 KS S.B. 129 (NS) was approved by Governor Sam Brownback (R) on April 16, 2013. This bill repealed (inter alia) Kan. Stat. Ann. § 12-207(b), which stipulated the following (parts in bold are applicable to this announcement):
“The interest rate limitation set forth in this subsection applies to all first mortgage loans and contracts for deed to real estate,…
Cx7276 is required to be given by lenders to mortgage loan applicants, pursuant to the Consumer Mortgage Protection Act (specifically Mich. Comp. Laws Ann. § 445.1637), which consists of a list of Department of Housing and Urban Development (HUD) approved housing counselors,…
The FNMA 1003 continuation sheets have been modified to keep individual items from splitting between two pages. For example, previously the name of a liability company could print at the bottom of a page and the corresponding street, city, state,…
The Federal Housing Administration (FHA) recently and dramatically revised their mortgage insurance premium (MIP) policy in FHA Mortgagee Letter 2013-04. This new policy applies to all FHA loans assigned a case number on or after June 3rd, 2013. Consequently, such changes necessitate modifications to certain FHA or Housing and Urban Development (HUD) disclosure forms including:
1….
If dates are not imported or entered into ConformX for the “Year or period requested” section of IRS Forms 4506 “Request for Copy of Tax Return” and 4506-T “Request for Transcript of Tax Return”, the first two dates are defaulted to the last two years of tax returns. …
Our Cx6177 is a reproduction of FNMA Form 3528.44 and Cx6178 is a reproduction of FNMA Form 3044.1. Pursuant to an audit of these documents, changes will be made to our forms to make the language located in the body of the documents exactly match that of the FNMA forms,…
Cx1507 is our generic document for a mortgagee or service organization to request receipt of original tax bills on the specified property. The form can also be used to forward tax bills to an entity besides the mortgagee, such as a tax processor….
Cx3759 has been provided pursuant to 41 Pa. Stat. Ann. § 301(e)(10) (West 2011), which had required the following in connection with a variable rate loan:
“ (10) No residential mortgage lender may take a residential mortgage providing for a variable interest rate unless it has clearly and conspicuously disclosed to the mortgage debtor in the mortgage application:
(i) That the mortgage rate is subject to change in the future….
Cx14292, 14293, and 14294 are provided generically for loans in which borrower-paid, single premium private mortgage insurance (PMI) is present, pursuant to the provisions of the Homeowner’s Protection Act (codified as 12 USCA §§ 4901 through 4910; see our announcement from October 16,…
The Inter Vivos Revocable Trust Rider is provided pursuant not only to general legal practice concerning security instruments, but also to FNMA’s requirements, as set forth in FNMA 2013 Selling Guide B2-2-05 & B8-5-02.
Pursuant to an audit of this Rider,…
Md. Code Ann., Real Prop. § 3-104.1(b) (West 2012) requires both the license number of the mortgage originator who originated a loan (who is licensed under the so-called “Mortgage Originator Law”) and of the mortgage lender who makes the loan (who is licensed under the Maryland Mortgage Lender Law) to be disclosed in the security instrument….
Both Cx15481 and 15482 have been provided pursuant to 41 Pa. Stat. Ann. § 301(e)(9) & (e)(10) (West 2011), which had required the following in connection with a variable rate loan:
“(9) A statement attached to the mortgage and to any evidence of debt issued in connection therewith printed or written in a size equal to at least 10 point bold type,…
The Department of Veteran Affairs recently updated their “Verification of VA Benefits” Form (VA Form 26-8937), which supersedes the previous revision (September 2006). There are two substantive changes to the form:
1) Replace the fourth bullet in the “INSTRUCTIONS TO LENDER” section that previously stated:
“is surviving spouse of a veteran who died on active duty or as a result of a service-connected disability,” to instead read: “is surviving spouse of a veteran and in receipt of DIC payments” and
2) Update the web link in the “Respondent Burden” section near the end of the form….
Cx359 is our generic, conventional deed of trust for primary lien loans secured by property in West Virginia. It is also a duplicate of FNMA Form 3049, published on FNMA’s website (https://www.fanniemae.com/singlefamily/security-instruments).
Due to an audit of this document,…
