Pursuant to our monthly audit of Federal Agency forms and to match the model forms made available through https://apps.irs.gov/app/picklist/list/formsPublications.html/, we will be making the following changes to Cx23:
The IRS has published an updated Form 4506 Request for Copy of Tax Return….
Pursuant to our monthly audit of Federal Agency forms and to match the model forms made available through https://www.va.gov/find-forms/, we will be making the following changes to Cx5402:
The VA has updated their VA Compliance Inspection Report….
In July of 2020, Indiana signed into law Senate Bill 340 which requires both an acknowledgment and a proof. It has come to our attention that Lake County, IN specifically requires the proof to be on a separate page. Due to this,…
By: Timothy A. Raty, Sr. Regulatory Compliance Specialist
Within the context of mortgage loans, California law promulgates two sections requiring disclosures to be provided to borrowers in certain languages other than English (the European language spoken by most Americans): Cal….
The IRS now provides a copy of their much anticipated Form 4506-C on their website (available directly at: https://www.irs.gov/pub/irs-pdf/f4506c.pdf). The purpose of this form is succinctly promulgated by the IRS as follows:
“Form 4506-C was created to be utilized by authorized Income Verification Express Service (IVES) Participants to order Tax Transcript records electronically for a third party….
Provided for Cal. Fin. Code §§ 22314 & 223338 and Cal. Code Regs. tit. 10, § 1454, Cx5188 contains a disclosure of the name, address, license number, and NMLS number of both the broker and the lender, as required by the following:
“Any statement of loan form used by a mortgage lender,…
This document is provided pursuant to FHA Single Family Handbook 4000.1 Pt. II.A.1.a.i(C)(1)(a), which requires the following (cited in relevant part):
“. . . The Mortgagee must obtain a non-borrowing spouse’s consent and authorization where necessary to verify specific information required to process the mortgage application,…
By: Timothy A. Raty, Sr. Regulatory Compliance Specialist
“Doveryai, no proveryai.” (Russian Proverb)
“Trust, but verify.” (Ronald Reagan)
The Economic Growth, Regulatory Reform, and Consumer Protection Act (132 Stat. 1296 [2018];…
As previously announced, California has changed the name of their “Department of Business Oversight” to the “Department of Financial Protection and Innovation”.
Even though this change does not officially take effect under statutory law until January 1,…
The following changes are being made to the redesigned FNMA Form 1003/FHLMC Form 65 (our Cx20667) following further testing that has been done during the FNMA/FHLMC Limited Production Period:
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