FHA Single Family Handbook 4155.2 ch. 6 & 12 provide instructions on how to create mortgage forms which are acceptable to FHA. While the Uniform Covenants of such documents are required to follow (verbatim) the Uniform Covenants of the FHA Model Mortgage Form,…
2013 KS S.B. 129 (NS) was approved by Governor Sam Brownback (R) on April 16, 2013. This bill repealed (inter alia) Kan. Stat. Ann. § 12-207(b), which stipulated the following (parts in bold are applicable to this announcement):
“The interest rate limitation set forth in this subsection applies to all first mortgage loans and contracts for deed to real estate,…
April’s “Compliance Matters” blog post written by Fred Gooch, general counsel and vice president of Compliance, focuses on the costs of complying with the CFPB. The CFPB’s mission is to make the consumer financial products and services marketplace as fair and transparent as possible….
As the cost of originating a loan has increased in 2013, consumers are shouldering more closing costs. In its quarterly study on closing costs, DocuTech found that the median closing costs in Q1 2013 increased by 0.4 percent from December 2012 to March 2013….
Among the more than 2,530 pages of final rules (and their analyses, history, and commentary) promulgated by the Consumer Financial Protection Bureau (CFPB), pursuant to the requirements of the estimated 920 page Dodd-Frank Wall Street Reform and Consumer Protection Act (124 Stat….
Cx7276 is required to be given by lenders to mortgage loan applicants, pursuant to the Consumer Mortgage Protection Act (specifically Mich. Comp. Laws Ann. § 445.1637), which consists of a list of Department of Housing and Urban Development (HUD) approved housing counselors,…
The FNMA 1003 continuation sheets have been modified to keep individual items from splitting between two pages. For example, previously the name of a liability company could print at the bottom of a page and the corresponding street, city, state,…
The Federal Housing Administration (FHA) recently and dramatically revised their mortgage insurance premium (MIP) policy in FHA Mortgagee Letter 2013-04. This new policy applies to all FHA loans assigned a case number on or after June 3rd, 2013. Consequently, such changes necessitate modifications to certain FHA or Housing and Urban Development (HUD) disclosure forms including:
1….
If dates are not imported or entered into ConformX for the “Year or period requested” section of IRS Forms 4506 “Request for Copy of Tax Return” and 4506-T “Request for Transcript of Tax Return”, the first two dates are defaulted to the last two years of tax returns. …
Our Cx6177 is a reproduction of FNMA Form 3528.44 and Cx6178 is a reproduction of FNMA Form 3044.1. Pursuant to an audit of these documents, changes will be made to our forms to make the language located in the body of the documents exactly match that of the FNMA forms,…
