Cx1507 is our generic document for a mortgagee or service organization to request receipt of original tax bills on the specified property. The form can also be used to forward tax bills to an entity besides the mortgagee, such as a tax processor….
Cx3759 has been provided pursuant to 41 Pa. Stat. Ann. § 301(e)(10) (West 2011), which had required the following in connection with a variable rate loan:
“ (10) No residential mortgage lender may take a residential mortgage providing for a variable interest rate unless it has clearly and conspicuously disclosed to the mortgage debtor in the mortgage application:
(i) That the mortgage rate is subject to change in the future….
Cx14292, 14293, and 14294 are provided generically for loans in which borrower-paid, single premium private mortgage insurance (PMI) is present, pursuant to the provisions of the Homeowner’s Protection Act (codified as 12 USCA §§ 4901 through 4910; see our announcement from October 16,…
The Inter Vivos Revocable Trust Rider is provided pursuant not only to general legal practice concerning security instruments, but also to FNMA’s requirements, as set forth in FNMA 2013 Selling Guide B2-2-05 & B8-5-02.
Pursuant to an audit of this Rider,…
March’s National Mortgage News Compliance Matters blog post, written by Fred Gooch, general counsel and vice president of Compliance, was a continuation of February’s blog post that took a look at the first three Consumer Financial Protection Bureau (CFPB) announced rules….
Richard Cordray, the Consumer Financial Protection Bureau (CFPB) director, reiterated at a recent Consumer Advisory Board Meeting in February the Bureau’s efforts on how to improve the way consumer financial markets operate for the American people – specifically focusing on holding financial institutions accountable for its service providers’ actions….
Md. Code Ann., Real Prop. § 3-104.1(b) (West 2012) requires both the license number of the mortgage originator who originated a loan (who is licensed under the so-called “Mortgage Originator Law”) and of the mortgage lender who makes the loan (who is licensed under the Maryland Mortgage Lender Law) to be disclosed in the security instrument….
Both Cx15481 and 15482 have been provided pursuant to 41 Pa. Stat. Ann. § 301(e)(9) & (e)(10) (West 2011), which had required the following in connection with a variable rate loan:
“(9) A statement attached to the mortgage and to any evidence of debt issued in connection therewith printed or written in a size equal to at least 10 point bold type,…
The Department of Veteran Affairs recently updated their “Verification of VA Benefits” Form (VA Form 26-8937), which supersedes the previous revision (September 2006). There are two substantive changes to the form:
1) Replace the fourth bullet in the “INSTRUCTIONS TO LENDER” section that previously stated:
“is surviving spouse of a veteran who died on active duty or as a result of a service-connected disability,” to instead read: “is surviving spouse of a veteran and in receipt of DIC payments” and
2) Update the web link in the “Respondent Burden” section near the end of the form….
Cx359 is our generic, conventional deed of trust for primary lien loans secured by property in West Virginia. It is also a duplicate of FNMA Form 3049, published on FNMA’s website (https://www.fanniemae.com/singlefamily/security-instruments).
Due to an audit of this document,…
