Cx13190 and Cx16407 are given prior to or upon making a high-cost mortgage loan (HCL) or a higher-priced mortgage loan (HPML), respectively. The purpose of these documents is to demonstrate that the borrower receives a reasonable, tangible net benefit from the new loan,…
Cx7924, Section 184 Individual Allotted Trust Land Rider (No Lease), has been updated with minor changes to reflect the new HUD model form 50120 released in February of this year. The date in the footer has been updated and relocated to the right side of the bottom margin to reflect the model form….
Scott K. Stucky explores the lack of basic oversight and accountability one of the most powerful independent federal government agencies is not accustomed to….
New Documents
CO Commitment Agreement (Cx17939) – We will be providing a new commitment agreement pursuant to the provisions of Colo. Rev. Stat. Ann. §§ 12-61-915(2), 38-10-124, & 38-40-102(1) (West 2013). Of these three provisions, Section 38-10-124 is the more restrictive and requires (in part) the following:
“(2) ….
Compliance has become what determines the overall success of a mortgage lending company. Maintaining compliance used to be much simpler, but in the post-financial meltdown world, the requirements will cost lenders money, or worse,…
Previously we had published an article detailing the changes we will be making to our documents in order to comply with the new CFPB regulations which will take effect in January of 2014 (see http://www.docutechcorp.com/the-january-2014-cfpb-regulations). After receiving client feedback and reviewing more of the CFPB’s new regulations,…
As part of an ongoing government-relation initiative, DocuTech and Glenn Stearns of Stearns Corp., will host a lunch discussion featuring Congressman Paul Ryan on Tuesday, Oct. 29 in Washington, D.C. The lunch, in conjunction with MBA’s 100th Annual Convention and Expo,…
Mass. Gen. Laws Ann. ch. 183A, § 4(5) (West 2013) requires, in relevant part, that “each mortgagee holding a recorded mortgage upon a [condominium] unit shall give written notice of the mortgagee’s name and mailing address to the organization of unit owners,” in order for the mortgagee to receive notices concerning changes affecting the unit,…
When a creditor desires to verify the social security number (SSN) of a loan applicant, he may do so by submitting to the Social Security Administration an executed copy of the “Social Security Administration Authorization for the Social Security Administration (SSA) to Release Social Security Number (SSN) Verification” form (SSA-89),…
Va. Code Ann. § 58.1-803(D) (West 2013) states the following:
“On deeds of trust or mortgages, the purpose of which is to refinance an existing debt, which debt is secured by a deed of trust or mortgage on which the tax imposed hereunder has been paid,…
