The following warning is currently displayed for VA loans when the funding fee percent is empty and the field “How VAFF/PMI/MIP is Paid” is not set to “Exempt”:
“The Department of Veterans Affairs (VA) Funding Fee does not have a value.…
We will be replacing some of the fields used on this form, as follows:
* Section 4A “Did You Serve Under Another Name?”
– The “Yes” checkbox will check when “VA Borrower 1 Served under Another name” (Field 74055) equals “Yes.”
–…
24 CFR § 203.25 and FHA Single Family Handbook 4330.1 REV-5, ch. 4-2 allow mortgagees to charge a late fee of four percent of any full monthly mortgage payment (principal, interest, taxes, and insurance) that is delinquent, subject to any state law which restricts late fees to a smaller amount….
As mentioned in a recent update concerning the Arkansas-version of the Notice of Servicing Transfer (Cx17905), Ark. Admin Code § 214.002-5010-1, which is made pursuant to the Arkansas Fair Mortgage Lending Act, was recently amended and re-enacted by 2013 Ar….
In order to provide verification to a lender of their Social Security number, borrowers are often required to fill out the Social Security Administration’s Form SSA-89, which our Cx5579 is a copy of. We recently updated this document to match the latest version of model form found on the Administration’s website (click here for the announcement)….
Per US Bank Bulletin 2014-05, starting February 10, 2014, US Bank will only accept the version of the homeownership counseling disclosure (Cx17874) that lists the actual counseling agency information instead of alternate website text. Therefore, if a US Bank program is in use and any of the ten homeownership counseling organization names are not filled in,…
Paperless mortgages are hardly new, but many mortgage banks and brokerages remain reluctant to accept them. Skeptics have cited a number of barriers to adopting digital loan documents, from borrower comfort to the perceived complications inherent in certain documents requiring a physical signature….
Cx327 and Cx359 have been further updated to match the most recent model forms published by FNMA (see the previous announcement at http://www.docutechcorp.com/document-changes-louisiana-mortgage-cx327-and-west-virginia-deed-of-trust-cx359). Cx327 has been changed to include a newer revision date in the document footer,…
Cx349, 402, and 507 have been updated to display the NMLS number on the top of the first page of the instrument only if the application date of the loan is before 01/10/2014. The NMLS number is required to be on the instrument by S.C….
Cx18183 is provided in connection with first lien loans in order to allow the borrower the option to exercise their waiver rights under 12 CFR § 1002.14(a)(1) or to acknowledge receipt of a copy of their appraisal (see http://blog.docutechcorp.com/january-2014-new-documents-first-lien-appraisal-waiverreceipt-form-cx18183 for more details)….
