Update to ConformX Supported Investors
DocuTech has recently made changes to our supported investor list. Please visit this link to see the changes Investor Information.
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April 20, 2012…
Compliance
03.13.12
MN Residential Mortgage Originator Contract (Cx1907)
Minn. Stat. Ann. §58.16(2)(a) requires a residential mortgage originator to enter into a written contract with each borrower from whom the originator either requires an advance fee or for whom the originator offers to act as an agent to help obtain a loan secured by a lien on real estate….
03.10.12
What Are Banks Spending on Compliance? Bankers as Buyers 2012
Bankers as Buyers is an annual report prepared by the William Mills Agency, along with the assistance of analysts and bankers nationwide, “to help financial institutions and those companies serving them validate their strategic IT direction, compare investments in technology by type or direct further research.”
Below are excerpts of the 2012 report concerning compliance and regulatory spending….
03.10.12
CFPB Sheds Light on New Integrated Mortgage Disclosure Rules
Reprinted With Permission from Ballard Spahr
Materials recently released by the Consumer Financial Protection Bureau provide significant insight into its stance on the rules that will govern integrated mortgage disclosure. Issued in the context of Small Business Regulatory Enforcement Fairness Act (SBREFA) requirements,…
03.10.12
FHA Annual MIP and UFMIP Increases Announced
HUD published detailed changes to the FHA Single Family Annual Mortgage Insurance Premium (Annual MIP) and Up-Front Mortgage Insurance Premium (UFMIP) in Mortgagee Letter 2012-04.
The Temporary Payroll Tax Cut Continuation Act of 2011 requires FHA to increase the Annual MIP it collects by 0.10 percent….
03.09.12
Updates to Michigan Principal Residence Exemption Tax Forms (Cx995, Cx996, and Cx997)
Cx995 “MI Principal Residence Exemption (PRE) Affidavit” has been updated to reflect the latest version of State Form 2368. In addition, Cx997 “MI Request to Rescind Principal Residence Exemption (PRE)” has been updated to reflect the latest version of State Form 2602….
03.02.12
Updates to the “TX Mortgage Banker Disclosure” (Cx2999)
Cx2999 is required to be given by a mortgage banker (who is also a residential mortgage loan originator) to a residential mortgage loan applicant at the time of application, pursuant to Tex. Fin. Code §157.007 and 7 Tex. Admin. Code §81.7….
02.24.12
Kansas and Late Charges
Kan. U.C.C. Stat. Ann. §16a-2-502 limits the amount of late charges that may be assessed in connection with a consumer credit transaction (which is subject to the provisions of Kansas’ Uniform Consumer Credit Code [UCCC]) to 5% of the unpaid amount of a delinquent installment,…
02.23.12
DocuTech and the Kansas Uniform Consumer Credit Code
The provisions of the Kansas Uniform Consumer Credit Code (UCCC) apply to “consumer loans” which, in relevant part, are defined as debt secured by an interest in land. However, “consumer loans” do not include first mortgages, unless:
1….
02.14.12
District of Columbia Documents: Tax Form FP 7CA and Affidavit Addendum (FP 7CA)
For loans secured by property located in the District of Columbia, DocuTech provides Cx2485 “DC Real Property Recordation and Transfer Tax FP 7/C.” which is a duplicate of the official FP 7/C tax form published by the D.C. Office of Tax and Revenue (http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594401.asp),…