Arkansas’ regulations for enforcing the provisions of the Arkansas Fair Mortgage Lending Act (Ark. Code Ann. §§ 23-39-501 through 23-39-518) were recently amended and re-enacted in 2103 Ar. Reg. Text 6635. Among the changes are ones to Ark. Admin. Code § 214.00.2-5010-1(c),…
To provide better readability on the Uniform Residential Loan Application, Docutech Corp. has decided to right-align most dollar figures.
In addition, a slight change was made in the column widths in Section VII. Details of Transaction to better accommodate dollar amounts containing up to 9 digits (ex….
Ill. Admin. Code tit. 38, § 1050.1010, which sets forth requirements concerning brokerage agreements, was recently amended in 38 Ill. Reg. 2019 (January 17, 2014). Besides an insignificant edit to Subsection (f), Subsection (h) has been altered to require a disclosure of the NMLS unique identifier of any mortgage loan originator who is assisting the loan broker in performing services for a borrower (previously it required the state registration number of the originator)….
2013 Oregon Laws ch. 219 (H.B. 2834) was passed this past year, which repealed the “Uniform Law on Notarial Acts” (Or. Rev. Stat. §§ 194.505 through 194.595) and enacted a new “Revised Uniform Law on Notarial Acts” (codification still pending)….
The PA Consumer Mortgage Disclosure Form (Cx14079) has been retired, per an announcement from Timothy Siwy, Deputy Secretary of Non-Depository Institutions for the Commonwealth of Pennsylvania Department of Banking and Securities. As of January 16, 2014, the form is no longer required as the Department has determined it is redundant for licensees and partially-exempt licensees to continue to provide the state form when the new federal forms required by the CFPB are substantially similar….
On January 10, 2014 the CFPB published a notice in the Federal Register (79 FR 1836) that they would be updating the following documents:
1. What You Should Know About Home Equity Lines of Credit (HELOC Brochure);
2….
In connection with upcoming changes to Regulations B and Z concerning Appraisal Notices (see the section entitled “Appraisal Rules” in our article “The January 2014 CFPB Regulations,” located at http://www.docutechcorp.com/the-january-2014-cfpb-regulations for details), we will be altering two State appraisal disclosures as outlined below….
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….
Due to investor requirements, we are currently providing Cx14078 (AIR Verification of Receipt of Appraisal) and 15224, in which the borrower is informed that they will be provided with copies of their appraisals no less than three business days before closing,…
Due to investor requirements, we are currently providing Cx14078 (AIR Verification of Receipt of Appraisal) and 15224, in which the borrower is informed that they will be provided with copies of their appraisals no less than three business days before closing,…
