• Sign In
  • Request Demo
Docutech

Compliance

Document Updates

Search IconA magnifying glass icon.
  • Home
  • Document Updates
  • News
    • Recent Articles
    • Compliance Blog
  • TRID Center
  • URLA Resource Center
  • Matrices
  • Compliance Resources
  • Blog
12.02.11

Wells Fargo RD Annual Fee Cushion Requirement

Wells Fargo Newsflash C11-061 dated October 26, 2011 modified earlier Newsflash C11-048 by removing the state limitation on the two month escrow cushion for the RD annual fee.  The newer Newsflash in part states:

An escrow reserve of two months’ annual fee payments is required for all GRH Loans delivered to Wells Fargo for purchase.…

Read More

12.02.11

Update to the MS Mortgage Origination Agreement/Fee Disclosure Agreement (Cx3315)

A mortgage origination agreement is required to be provided to a borrower and kept in a licensee’s files under Miss. Code Ann. §81-18-33. DocuTech has been providing its own version of such an agreement (Cx3315), however, in keeping with our policy to provide model or official documents where possible,…

Read More

11.30.11

Textual Changes to the “NJ Rate Lock-In Agreement” (Cx4480)

The following changes will be made to DocuTech’s New Jersey lock-in agreement:

1. A new Clause E will be added to the “I Do Want an Interest Rate Lock-In at This Time,” which will disclose the commitment fee that will be locked-in (if any)….

Read More

11.28.11

Textual Edits to DocuTech’s PMI Disclosures

In order to mitigate confusion arising from certain balloon loan verbiage contained in DocuTech’s Private Mortgage Insurance disclosures (Cx29, 862 and 4668), these disclosures will be changed to only print this verbiage if the subject loan contains a balloon payment….

Read More

11.22.11

Edits to Five Texas-specific Disclosures

Pursuant to the findings of our state-specific disclosure audit this year, the following changes will be made to five of our Texas-specific disclosures:

1. The language and format of “TX Mortgage Banker Disclosure” (Cx2999; required by Tex. Fin….

Read More

11.17.11

Minor Edit to Uniform Residential Loan Application

Copies of the FNMA Form 1003 with only one borrower on them (where the co-borrower information is empty) should have “Not Jointly” checked under section “VI. Assets and Liabilities” to indicate the application was not filled in on a combined basis….

Read More

11.07.11

Changes to Two Delaware Disclosures

Pursuant to the findings of our annual state-specific disclosure audit, our “DE Mortgage Loan Broker Regulations” (cx3593) and “DE Broker Agreement” (cx3583) will now be generated only when a loan is secured by owner-occupied property.

Both documents are required to given in connection with a “mortgage loan,” which is defined under Del….

Read More

11.04.11

Edits to Several Maryland Disclosures

Pursuant to this year’s state-specific disclosure audit, as well as client requests, the following edits are being made to several disclosures that are provided for loan transactions secured by property in Maryland:

1. A new “MD Written Acknowledgement of Delivery of the Note” (cx16099) will be provided in closing document packages pursuant to the “safe-harbor” provisions of Md….

Read More

11.03.11

Edit to “Points” on Vermont Commitment Agreement

Currently “Discount Points” are printing in item 4 of the Vermont Mortgage Loan Commitment Agreement (cx4671).  Since the amount for itemized line 802 in ConformX is only to be used for “Discount Points” charged on the loan, itemized line 802 currently prints on the form in item 4….

Read More

11.01.11

Michigan Mortgage Witness Removal

Witness signatures are not required on Michigan security instruments.  Therefore the witness lines were removed years ago from the ConformX Michigan Mortgage (cx331) as allowed by Fannie Mae.

Since they are unnecessary, the witness lines have now also been removed from the Michigan FHA Mortgage (cx384) and Michigan Second Lien Mortgage (cx489). …

Read More

10.18.11

Edit to Oregon FHA Deed of Trust

The “Request for Reconveyance” section will be removed from the Oregon FHA Deed of Trust (cx399), effective October 20, 2011. A request for reconveyance is required by Oregon law as follows:

“Within 30 days after performance of the obligation secured by the trust deed,…

Read More

10.13.11

Updates to TX Notice of Penalties for Making False or Misleading Statements

Tex. Fin. Code §343.105 requires a lender, mortgage banker, or licensed mortgage broker to provide to each applicant for a home loan a written notice, with specific language, warning the applicants that making a false or misleading statement is punishable under Texas law….

Read More

10.12.11

New Generic Disclosure and Updates to Anti-Coercion Disclosures

DocuTech will be making the following changes to certain documents, effective October 14, 2011:

1. The Kentucky Fair Housing Disclosure (Cx11145) will now print generically for all Kentucky closing loan packages. This disclosure is required under 104 Ky….

Read More

10.11.11

Update to “What You Should Know About Home Equity Lines of Credit”

Due to the restructuring of Federal agencies, including the transfer of authority from the OTS to the OCC and the launch of the CFPB this July; and changes to agencies’ addresses including the FDIC’s address change, DocuTech is updating “What you should know about Home Equity Lines Of Credit” (cx9925) to disclose the most current contact information for these government agencies….

Read More

10.10.11

Good Faith Estimates in HUD-1 Comparison Chart

One of the amendments to Regulation X included in 76 FR 40612 was to clarify that only charges actually provided or purchased should be listed on page 3 of the HUD-1 Settlement Statement.

Currently the Good Faith Estimate amount is being displayed in the HUD-1 comparison chart for the hardcoded rows (lines that always print in the chart) even if the fee was not actually charged at Closing. …

Read More

10.07.11

Configuration Changes to Several Colorado Disclosures

The following configuration changes will be made to the following Colorado disclosures, effective October 11, 2011:

CO Loan Product Choice (Cx2749): This disclosure is required under Colo. Rev. Stat. Ann. §5-3.5-102(1)(g)(III) to be given by a lender in connection with a covered loan….

Read More

09.29.11

Mandatory Use Date of October 1st for Regulation Z Clarifications

The Federal Reserve Board issued an interim rule on December 22, 2010, amending Regulation Z and clarifying certain aspects of the September 24, 2010 interim rule. The Board revisited 12 CFR §226.18(s)(2)(i)(B)(2) to clarify that creditors must disclose the maximum possible rate that will apply at any time during the first five years after the date on which the first regular periodic payment will be due,…

Read More

09.27.11

Update to the MT Mortgage Loan Origination Disclosure (Cx2776)

Prior to May 5, 2011, Mont. Code Ann. §32-9-124(3) required a loan originator who worked for a mortgage broker to provide a “Mortgage Loan Origination Disclosure,” with statutorily required language, to a borrower before providing to him any residential mortgage services….

Read More

09.14.11

Domestic Partnerships in Illinois, Nevada, and Oregon (Cx13441)

 

Illinois recently enacted the “Illinois Religious Freedom Protection and Civil Union Act” (2010 Ill. Legis. Serv. P.A. 96-1513), which extends to civil unions “the obligations, responsibilities, protections, and benefits afforded or recognized by the law of Illinois to spouses.”…

Read More

09.14.11

Revisions to the Oregon Float or Lock Agreement (Cx4297)

 

Oregon administrative law sets forth specific requirements concerning lock-in agreements, as follows:

“For residential mortgage transactions . . . a mortgage banker that does not fund a loan or mortgage broker that does not fund a loan must prepare and maintain the following:

(c) In the case of residential or single family loans,…

Read More

Newer 1 … 73 … 75 Older

Subscribe to compliance updates from Docutech

  • Docutech
  • 1795 International Way
    Idaho Falls, ID 83402
  • Idaho Mailing Address
  • P.O. Box 1835
  • Idaho Falls, ID 83403-1835
  • FIRST AMERICAN
  • Corporate Website
  • Corporate News
    About
  • Blog
  • Careers
  • Company
  • Partners
  • Services
  • Privacy Policy
  • Terms and Conditions
    Solutions
  • ConformX
  • Solex
  • Collaboration Portal
  • Income Verification
  • Regulatory Compliance
  • Print Fulfillment
  • Client Services
Toll Free 800.497.3584
Office 208.715.3186
Support support@docutech.com
  • Twitter
  • Facebook
  • LinkedIn

Docutech, LLC and its affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, Docutech, Conformx, and Solex are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.
© 2023 First American Financial Corporation and/or its affiliates. All rights reserved.