Today, FNMA and FHLMC issued a joint “URLA Implementation Timeline” which indicates that the new URLA must be used beginning on November 1, 2020. Industry participants may begin using the new URLA as soon as September 1, 2020 and pre-approved participants may begin using it as soon as June 1,…
Document Updates: HUD Form 92900-LT FHA Loan Underwriting and Transmittal Summary (Cx13513 and Cx15849)
The Department of Housing and Urban Development has updated HUD form 92900-LT (FHA Loan Underwriting and Transmittal Summary) found on their website https://www.hud.gov/program_offices/administration/hudclips/forms/hud9#group2.
We will be updating our copies Cx13513 and Cx15849 to match the latest version of this form. …
Pursuant to the Blue Water Navy Vietnam Veterans Act of 2019, and VA Circular 26-19-30, Purple Heart recipients can now receive a waiver for the VA Funding Fee. In light of this change, we are making a modification to our ConformX Data Integrity Warning that triggers with the following message:
“The Department of Veterans Affairs (VA) Funding Fee does not have a value….
Cx16920 is provided upon request pursuant to R.I. Gen. Laws Ann. § 44-30-71.3 and 280 R.I. Code R. §§ 20-10-1.7(H), 20-10-1.8(B), 20-10-1.10, 20-10-1.12(D); it is based on the following forms published by the Rhode Island Division of Taxation on their website (http://www.tax.ri.gov/taxforms/nrrewh.php):
- Instructions for Sale Of Rhode Island Real Estate By Nonresidents for Sales on or after 1/1/2015;
Our Cx18212 (an “upon request” only document) was created in 2014 due to the creation of current 12 C.F.R. § 1026.36(g), which requires the name and NMLSR ID of both the “loan originator organization” and “individual loan originator . ….
Global Mapping Updates: Fields “Loan Amount Less Than or Equal to Reg Z Threshold Amount” (81938) and “Higher-Risk HPML” (67269) for 2020
As previously announced, the Consumer Financial Protection Bureau (“CFPB”) has updated a couple of the dollar amounts specified in various parts of Federal Regulation Z (12 CFR Pt. 1026), which amounts are required to be adjusted annually for inflation….
After a recent compliance review, we are updating our “From MERS” Assignments to better match the appropriate terminology to refer to the Mortgage Electronic Registration Systems, Inc. (MERS) in the Assignment text.
The example Assignment language from the MERS Systems Procedures Manual is as follows:
- Mortgage –
Document Update: HUD Form 92577 – Request for Acceptance of Changes in Approved Drawings and Specifications (Cx14872)
The US Department of Housing and Urban Development has updated Form HUD – 92577 “Request for Acceptance of Changes in Approved Drawings and Specifications”. As a result, we are modifying our copy (Cx14872) to more closely match the model form….
After a recent review, we are updating the logic for question “18. First Time Homebuyer?” of the HUD-92900-A “HUD/VA Addendum to Uniform Residential Loan Application” (our Cx20336). Currently the “a. Yes” checkbox will be checked on the form if either of the borrowers on the copy have their corresponding field “First Time Home Buyer Status” set to “Yes,” and “b….
In 2013, due to instructions from the Federal Housing Finance Agency (FHFA), which were issued in connection with the new ATR/QM rules, Fannie Mae issued SEL-2013-06, which explained that they would cease to purchasing “loans with an interest-only feature”….