As was announced previously, Freddie Mac has updated their power of attorney (POA) requirements to limit the pre-close borrower discussions to only cash-out refinances. To accomplish this change, we are changing the configuration of our FHLMC copy of Cx23852 (Explanation of Loan Terms [POA]) to only print for cash-out refinance loans….
As we previously announced, Fannie Mae (FNMA) and Freddie Mac (FHLMC) are retiring adjustable rate mortgage products based on the Constant Maturity Treasury (CMT).
FNMA’s announcement:
“To be eligible for delivery to Fannie Mae,…
Due to a recent document audit, we are updating our version of Indiana State Form 51781 (Cx14885 IN Property Tax Benefits), to align with the updated model form that is available on the Indiana Department of Local Government Finance site located here….
General Overview
As we previously announced, on June 17, 2021 President Joe Biden signed the Juneteenth National Independence Day Act which made June 19th a federal holiday. The new law amends section 6103(a) of title 5 of the United States Code by inserting “Juneteenth National Independence Day,…
On June 17, 2021, President Joe Biden signed Senate Bill S.475 which establishes June 19th as a legal public holiday designated as Juneteenth National Independence Day. The new law inserts the following text after the item relating to Memorial Day into Section 6103(a) of title 5,…
As was previously announced here, Gov. Ralph Northam (D) approved VA H.B. 1882 (2021), which impacts several rules regarding deeds of trust. The law updated the model form for subordinate language to include a reference to the previous loan interest rate….
As previously announced, Governor Ralph Northam (D) of Virginia, signed into law VA HB 2064 (2021) which amends various parts of Virginia’s Code regarding electronic recordings and notarizations, such as requiring an indication within a notarial certificate as to whether the notarization was done in person or via Remote Online Notarization (RON)….
Yesterday, Gov. Greg Abbott (R) signed into law TX SB 43 (2020), which is, in part, “an act relating to residential mortgage loans, including the financing of residential real estate purchases by means of a wrap mortgage loan ….
On April 29, 2021 Gov. Eric Holcomb (R) signed into law IN HB 1255 (2021) which amends a vast array of laws impacting notarial acknowledgments and proofs and the electronic recording of mortgages (starting from Section 37 of the bill)….
On April 19, 2021 Gov. Doug Burgum (R) signed into law ND SB 2103 (2021), which amends the so-called “North Dakota Money Brokers Act” (N.D. Cent. Code §§ 13-04.1-01 et seq.). Amendments include the addition of a new Ibid.…
