Compliance

Document Updates: Nebraska Notary Blocks for Each Party for RON/IPEN (Cx25306 and Others)

We have adjusted the Nebraska notary acknowledgment for remote online notary (RON) and in-person electronic notary (IPEN) transactions. The Nebraska RON/IPEN regulations state the following:

“For an online notarial act, each principal’s signature presented for notarization and attestation in the form of an acknowledgment is to be individually affixed to the electronic document by the principal and should be acknowledged separately by the principal…” [Neb….

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Document Updates: 203k Applicant Acknowledgement (Cx15487)

Our 203(k) Applicant Acknowledgment, Cx15487, contains a paragraph where the applicant can direct how contingency funds they have provided will be refunded.  They choose whether the funds will be refunded directly to the person who established the funds, or they may elect to have the funds applied towards the outstanding principal balance of the loan….

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Document Updates: Maryland Affidavits on Security Instruments (Cx487 and Cx3040)

According to MD Code, Real Property §4-106(a), mortgages or deeds of trust are required to have an oath or affirmation of the mortgagee that the consideration recited in the mortgage or deed of trust is true and bona fide as set forth….

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Document Updates: Section F Fee Coding Enhancement (Cx1904, Cx3579, Cx3583)

Previously three documents would only consider printing Section F fees if all previous Section F fees had either a fee description or an amount populated. The following documents have been updated to ensure the first five fee lines of Section F are always considered for printing,…

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Document Updates: New Mexico Notice of Right to Select Attorney (Cx8809)

After an audit of Cx8809, it was decided to: 1) update the document name from “NM Borrower’s Attorney Preference” to “NM Notice of Right to Select Attorney”, and 2) revamp the entire document to better aid our clients in identifying when the definition of “points and fees” applies….

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Document Updates: Addition of Subtitles to California Deeds of Trust

It has come to our attention that some county recorder offices in California are requiring additional titles on Deeds of Trust per Cal. Gov. Code § 27324.

Consequently, we have created four new fields which can print all capitalized,…

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Document Updates: 2023 Graphs for Credit Score Disclosure – A-3/H-3 (Cx15312)

Cx15312 is a duplicate of the Model A-3/H-3 Form provided by the Federal Trade Commission, Federal Reserve Board, and Consumer Financial Protection Bureau pursuant to the provisions of 15 USCA § 1681m(h) and 12 CFR §§ 222.74(d)(1), 1022.74(d)(1), and 16 CFR § 640.5(d)(1)….

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Configuration Updates: Iowa Payment Reduction Fee Disclosure (Cx1906)

On May 11, 2023, Governor Kim Reynolds approved Iowa House File 609 which relates to specified loans provided by mortgage bankers. Iowa House File 609 became effective July 1, 2023.

I.C.A. § 535.8(5) requires a disclosure for a “payment reduction fee” which is also commonly known as loan discount points or fees….

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Document Updates: Cx38 FHA Amendatory Clause/Real Estate Certification

According to FHA Single Family Handbook II.A.1.a.i.(E)(1)(a)(i), if the Borrower does not receive form HUD-92800.5B before signing the sales contract, the sales contract must be amended before closing to include an amendatory clause.  Our Cx38 Amendatory Clause/Real Estate Certification reflects the required language. …

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Document Updates: Cx7700 UCC-1 Financing Statement

After a review of Cx7700, the UCC-1 Financing Statement, we are updating the form.  This document prints for our Cooperative loans.  Each state has their own model form but most follow the IACA (International Association of Corporation Administrators) published form. …

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