Pursuant to Miss. Code Ann. §81-18-28 and 5-2 Miss. Code R. §1.11, DocuTech will now be providing a generic lock-in agreement for loans secured by property located in Mississippi. This agreement is split into several sections.
The first section is a preamble with a general recital typical in most agreements….
Pursuant to an audit of our disclosures, we will be adding “Date:” to the general loan information section of the following disclosures:
1. FHA Amendatory Clause/Real Estate Certification (Cx38)
2. Informed Consumer Choice Disclosure Notice (Cx41)
3….
Pursuant to the provisions of Md. Code Ann., Com. Law §12-124(a)(5) and Md. Code Ann., Ins. §27-214(a), the multi-state Anti-Coercion Insurance Disclosure will be configured to print in all Initial Disclosure packages for all types of loans secured by property located in Maryland….
There are two California laws for which Cx878 is given pursuant to. The first is Cal. Civ. Code §2948.5(b), which actually requires the disclosure as well as most of its contents. The second is Cal. Fin. Code §50204(o), which requires a licensee to have “evidence of compliance”with Ibid….
The VA Lock-in Agreement is provided pursuant to the provisions of 10 Va. Admin. Code §5-160-30(B). The Agreement discloses to borrowers whether private mortgage insurance (PMI) is or is not required to be paid by them in connection with their loan….
The scheduled update to the borrower signature line sections of the Fannie Mae and Freddie Mac standard forms in ConformX to have the word “-DATE-” removed from underneath the signature lines will be postponed while additional related functionality is added to the ConformX software in November and custom investor Notes and Security Instruments are reviewed….
12 USCA §4903 requires certain disclosures to be given to borrowers when private mortgage insurance (“PMI”) is required in connection with a residential mortgage transaction, which explain to the borrower that PMI may be cancelled either by their initiative or automatically in accordance to the provisions of the Homeowner’s Protection Act (“HPA”)….
For cosmetic and clarification purposes, the following changes will be made to DocuTech’s standard Texas Renewal and Extension Exhibits:
1. A clause will be inserted into the first sentence of the second paragraph, explicitly stating that the liens being renewed are not extinguished….
In order to more closely match the signature lines included on the standard Fannie Mae and Freddie Mac Notes, Security Instruments, Addenda, and Riders, the borrower signature line sections of all of these Fannie Mae and Freddie Mac standard forms in ConformX will have the word “-DATE-”…
An important issue that has previously been confined to mortgage industry professionals hit the primetime when Governor Mitt Romney raised the “qualified mortgage” rulemaking in the first presidential debate on Wednesday night….
