Several changes are being made to both the multi-state and state-specific text of Cx43. These changes are as follows:
1. Multi-state: Minor textual changes are being made to this document for grammatical reasons. Currently, the affidavit has a mix between first and second person narratives and,…
Witness signatures are not required on Nebraska security instruments. Therefore the witness lines were removed years ago from the ConformX Conventional Nebraska Mortgage (Cx338) as allowed by Fannie Mae. Since they are unnecessary, the witness lines have now also been removed from the Nebraska FHA Mortgage (Cx391.)
This change will take effect on March 16,…
The Document Preparation Matrix summarizes, state-by-state, the ‘practice of law’ regarding mortgage document preparation. Important research references discussing mortgage document preparation and what actions may constitute the unauthorized practice of law are provided. State guidance can vary widely from stating that a corporation lending money may prepare documents in connection with that loan (Arizona) to requiring that an attorney be involved in a direct or supervisory capacity in drafting or reviewing all documents affecting transfer of title to real property (Delaware). …
Cx11242 is required under the Rhode Island Home Loan Protection Act (R.I. Gen. Laws §§ 34-25.2-1 through 34-25.2-15), but more specifically under R.I. Code R. 11-2-3:5(A)(v) (2012) and must be given in connection with a home loan which refinances a previous loan which was consummated within the prior 60 months….
This document is given pursuant to Cal. Civ. Code § 2954(a) (West 2012) and contains a section where the borrower elects either to establish a voluntary impound account for the payment of taxes and insurance or to pay for such charges directly….
Unlike most disclosures, which are required by either a statutory or administrative law, Cx13569 is required by enacted legislation that has not been codified (2008 Me. Legis. Serv. 687, § 2 [West]).
This legislation requires the Department of Administrative and Financial Services,…
Pursuant to our policy of including lender signature lines on documents only as required by either applicable law or an official/model form, we will be removing the lender signature line and area from Cx4671, which is provided pursuant to the provisions of Vt….
Cx3738 is given pursuant to the provisions of 7 Pa. Cons. Stat. Ann. § 6121(10) (West 2012) at application. Pursuant to company policy of only including lender signature lines on documents when either explicitly required by applicable law or when as a part of a model form,…
The PATRIOT Act Disclosure is provided pursuant to the provisions of 31 USCA § 5318 (West 2012) and 31 CFR § 1020.220(a)(5) (2012). Under the latter subsection of law, a notice is required to be provided to customers before they open an account,…
DocuTech has been providing Cx1002, 3467, and 3481 in either Initial or Closing Disclosure packages generically, due to the requirements of Utah Code Ann. §7-17-4, in which a notice is required to be given by a lender to the borrower(s) of a loan,…
Rural Development Form 1980-17 has been updated. The latest version of the form includes the RHS Borrower ID, and references the annual fee on page 2, item 3.
The update to the new version will take effect in ConformX on February 26,…
Cx999 is provided pursuant to the provisions of Cal. Civ. Code § 2954.6 (West 2012). Among other things, this section requires a lender or broker to notify the borrower of whether the borrower has the right to cancel either private mortgage insurance or mortgage guaranty insurance. …
The Rhode Island Home Loan Protection Act Disclosure Tangible Net Benefit form has been modified. The logic that triggers the “RECEIPT OF CASH IN EXCESS OF THE COSTS AND FEES” checkbox to be marked has been refined to look at both the HUD-1A and HUD-1 Cash to Borrower amounts when applicable,…
Rural Development Form 1980-21 has been updated. The new version of the form (Rev. 02-13) recently posted at http://forms.sc.egov.usda.gov/efcommon/eFileServices/eForms/RD1980-21.PDF has the following Debt Collection Improvement Act (DCIA) statement removed from page 2:
“I (we) certify and acknowledge that if the Agency pays a loss claim on the requested loan to the lender,…
Pursuant to our annual audit, the Florida Interest Rate Lock Agreement will be modified. Most of the edits to this document are minor edits to the text, such as punctuation and capitalization, for grammatical purposes. There are, however, a couple of substantial changes that will be made:
a….
New liability fields were created for indicating on the 1003 whether or not a liability should be excluded. Previously ConformX only used the excluded indicator for calculations, and the indicator was not available for use on documents. These new fields will be used to allow for a visual indicator on the docs if a liability is being excluded from totals….
The execution of the Indiana Mortgage (FHA form) is governed by Ind. Code. Ann. § 32-1-23, which no longer requires signatures on a mortgage to be witnessed. The lines for witness signatures have been removed from the form to better follow the requirements of Indiana state law….
Cx4387 is primarily given pursuant to the provisions of 15 USCA § 1681s-2(a)(7) (West 2012) & 12 CFR § 1022.1(b)(2)(ii); it is based upon the Model B-1 Form found in 12 CFR Pt. 1022, App. B. It is required to be provided by a financial institution if it provides negative credit information about a customer to a credit reporting agency….
Cx886 is given pursuant to the provisions of Cal. Civ. Code § 1799.91 (West 2012), which require a specific-language disclosure to be provided to “each person who does not in fact receive any of the money, property, or services which are the subject matter of [a] consumer credit contract ….
Rural Development Form 1980-21 is governed by RHS § 1980.353, which requires additional borrowers beyond two (2) to be documented on a separate form. Additional borrower information was previously provided as an addendum to RD Form 1980-21. In order to more fully comply with Rural Housing Service requirements,…
