N.M. Stat. Ann. § 58-21B-20(A) requires the following (in relevant part):
“A mortgage loan originator shall, [sic] enter into a fiduciary relationship with the borrower. For the purposes of this subsection, ‘fiduciary relationship’ is a relationship in which a mortgage loan originator shall:
(7) disclose to the borrower the existence of all loans available to the mortgage loan originator,…
Cx14222 and cx14223, the HUD-1 and HUD-1 A forms, have been modified for HELOCs. As the forms are not required for HELOCs, the modifications are permissible under federal regulations. To accommodate HELOCs, the “Loan Terms” section has been removed. The last line of the forms have been modified to read: “Note: If you have any questions about the Settlement Charges listed on this form,…
Due to the provisions of Me. Rev. Stat Ann. tit. 14, § 6111, we will be modifying the foreclosure provisions of our standard FHA and second lien Maine mortgages.
The first sentence of Section 18 of Cx383 will now state the following:
“If Lender requires immediate payment in full under Paragraph 9,…
Cx7225 is required under Fla. Stat. Ann. § 627.679(c) to be provided “before any credit life insurance may be sold in connection with a specific installment loan or home equity line of credit.”
We will be configuring this document to print under the following conditions:
In addition,…
Users can now indicate in ConformX if a particular fee is being paid to an affiliate. These new “Paid To Affiliate” indicators will be reflected on the Closing Worksheet (Cx14226).
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Cal. Civ. Code § 1916.5(a) requires certain conditions to be made within a security instrument, or other evidence of a variable interest rate debt such as a promissory note, which is made by a lender “other than a supervised financial organization,” in order for the lender to collect a higher interest rate than the initial interest rate….
Pursuant to our yearly audit of state-specific disclosures, we will be making the following changes to the following documents which print in document packages for loans secured by property located in Wyoming:
WY Mortgage Second (Cx517) and HELOC Mortgage – WY (Cx1403)
Wyo….
For a good number of security instruments, there is included a “Prepared By” section in which at least the name (and usually the contact information) of the person and company who prepared the instrument is disclosed.
Our policy has been to include this section only when:
1….
D.C. Code Ann. § 26-1113 requires, in part, for a financing agreement (whether an initial or a revised and final one) to be delivered to a borrower at least 72 hours before the time of settlement. However, “prior to execution of the financing agreement,…
Boosting customer service and productivity are just a few benefits of adopting an e-mortgage system. But some hurdles throughout the industry still remain. DocuTech COO Scott Stucky offers his expertise on the challenges of adopting e-mortgage in this month’s Secondary Marketing Executive….
