By Amber Cushman – Compliance Attorney, DocuTech Corporation
On October 28, 2013, Richard Cordray addressed the Mortgage Bankers Association at their annual convention in Washington, DC, and he explained the agency’s mission and goals to promote “fair, transparent,…
An “Information Document” is required under Ohio Rev. Code Ann. § 1345.05(a)(4) & (G) and Ohio Admin. Code 109:4-3-29 is to be provided to borrowers at the time of applying for a loan, or within 5 days of application if such is not made in person….
Congressman Paul Ryan, Housing Wire – We Will Try to Get QM Delayed
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Cx374 is the FHA version of Cx321, the FNMA/FHLMC Iowa Mortgage security instrument. In keeping with our practice of maintaining optimal document consistency, we have added signature lines on FHA Cx374 under Non-Uniform Covenant 21, Homestead Exemption Waiver. This will mirror the signature functionality that we currently have on FNMA/FHLMC Cx321 under the Homestead Exemption Waiver,…
Cx3095 IRS Form 4506-T Request for Transcript of Tax Return has been updated to match the September 2013 version of the form. Estimated processing time disclosed on the form has been reduced from 30 calendar days to 10 business days….
Per ML 2013-29, for FHA-insured refinance mortgages with case numbers assigned on or after November 1, 2013, the lender must obtain the borrower’s written permission before unused borrower funds from an escrow account on an existing mortgage can be applied to the newly originated loan instead of giving the money directly to the borrower….
Certain Maine disclosures have been updated pursuant to our ongoing state disclosure audit. Cx3279, ME Right to Own Attorney Disclosure, has been updated with new language to make the form more clear and to specify to whom the selection is certified on the form….
The “Instructions for Completing HUD – 1 and HUD – 1A Settlement Statements,” found on the HUD website (http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/resappa), states that:
“The HUD – 1A settlement statement is to be used as a statement of actual charges and adjustments to be given to the borrower at settlement,…
Veri-Tax will automate ConformX income verification feature in support of IRS compliance
IDAHO FALLS, IDAHO, Oct. 24, 2013 – DocuTech Corp., a leading provider of compliance and documentation technology, has partnered with Veri-Tax, a supplier of verification and ability-to-pay solutions,…
As an extension of our continuing security instrument audit, and as a result of DocuTech’s ongoing commitment to being a leader in mortgage-industry compliance, we are initiating a comprehensive update to the notary acknowledgment language on our security instruments.
Although current acknowledgement language in use by DocuTech is legally compliant,…
