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….
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….
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….
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. …
Typically when prices drop, retailers see sales rise as consumers take advantage of stronger buying power. But the mortgage market is in a curious place. Interest rates are at historic lows, but sales remain flat. The reasons are many –…
by Fredric J. Gooch – General Counsel/VP Compliance, DocuTech Corporation
Mortgage rates are at historic lows and so many DocuTech clients are working as fast and furious as they can to help borrowers take advantage of the great deals in the market….
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….
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,…
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….