This document is provided pursuant to S.C. Code Ann. § 37-23-70(D), which requires (inter alia) that “the mortgage broker, originator, or employee shall provide the borrower with a document specifying the agency designated to receive complaints ….
Rhode Island Gen. Law § 27-58-7 states:
(a) A financial institution shall prominently disclose in writing, in clear and concise language, to the institution’s customers, including in any advertisement or promotional material, pursuant to regulations prescribed by the commissioner,…
Pursuant to a periodic review, we will be updating the language of our generic PMI Disclosure forms to be more consistent with the language of 12 U.S.C. 4902 & 4903. Aside from a few minor grammatical changes, the most notable update is to the “Automatic Termination of PMI”…
On May 24, 2018 President Donald J. Trump (R) signed into law the “Economic Growth, Regulatory Relief, and Consumer Protection Act” (“EGRRCPA”) which, among other things, required the Social Security Administration (“SSA”) to establish an identification process for the prevention of fraud,…
We have added default behavior to VA Form 26-8937, Verification of VA Benefits (Cx3952) following the release of from the Veterans Benefits Administration of VA Circular 26-19-17, Funding Fee Guidance to Lenders and Servicers, dated June 28, 2019, which directs lenders and servicers to take the following action:
Funding Fee Exemption Determination….
Vt. Admin. Code 4-2-6 requires that a high rate/high point notice shall be “printed on a single sheet of colored paper that is easily distinguished from all other disclosures, applications or other loan documents presented to the borrower. Except as otherwise required herein,…
Cx13498 is provided pursuant to the provisions of Fla. Stat. Ann. § 494.0069 and Fla. Admin. Code r. 69V-40.155 & 69V-40.260(2)(d). While these provisions do include requirements for disclosing any discount points locked-in, they do not require origination charges to be listed….
On July 11, 2019 both FNMA and FHLMC announced that they “expect” to make an ARM product based on the Secured Overnight Financing Rate (SOFR), which is becoming the preferred standard for replacing the LIBOR when it is retired towards the end of 2021 (a high-level overview of LIBOR’s retirement can be found on our website here: https://compliance.docutech.com/2018/12/12/phasing-out-london-interbank-offered-rate-libor-and-cost-of-funds-index-cofi/)….
The June 2019 IRS Form 4506-T update announced here, including the removal of Line 5a regarding mailing the tax transcript to third parties, has been postponed, pending further clarification from the IRS.
Although the IRS has stopped third-party mailings as part of a series of steps to safeguard taxpayer data,…
As previously announced, the IRS has updated their Form 4506-T to “better protect taxpayer data” (see https://www.irs.gov/forms-pubs/about-form-4506-t). We will be updating our standard copy of the form (Cx3095) to match these latest revisions.
We are still monitoring the IRS’ website for when they publish a revised version of the standard Form 4506….
