DocuTech ended 2011 with a bang by acquiring the assets of Lender Support Systems, Inc.’s (LSSI) Docs3D mortgage document software from parent company, Emphasys Software.
The acquisition of LSSI’s Docs3D software and customer base will enable us to continue growing our existing presence among regional banks and credit unions….
At more than 2,300 pages long, including 250 amendments, the Dodd-Frank legislation will likely see more changes before all is said and done.
DocuTech COO Scott Stucky spoke with reporter Phill Britt on the impact of Qualified Residential Mortgage (QRM) in a November article on the progression of Dodd-Frank:
“Attached to the hip” with QRM is the Qualified Mortgage (QM) – loans that meet minimum underwriting standards to help ensure the consumer has a reasonable ability to repay the obligation,…
In a controversial move, President Barack Obama used a recess appointment to appoint Richard Cordray as the first director of the Consumer Financial Protection Bureau. This move which was seen as necessary to protect the public by the Democrats,…
Pursuant to this year’s state-specific disclosure audit, the following changes will be made to some of the disclosures provided in document packages for loans secured by property located in Illinois:
1. The Illinois Mortgage Escrow Account Act (cx1207),…
The OK Mortgage Broker/Borrower Agreement (Cx3322) has been provided to clients to help them comply with the provisions of Okla. Stat. Ann. tit. 59, §2095.15(D)(3), which requires that a broker must disclose any administrative fee before collecting it.
However,…
A completed Uniform Residential Loan Application (FNMA Form 1003) helps a loan originator to determine if a loan applicant has a spouse who has a concurrent ownership interest in the property that will be secured by the loan applied for,…
Louisiana will begin requiring certain title insurance identification information on recorded mortgages starting January 1, 2012. LA Rev. Stat. Ann. §22:513.1 will require each mortgage insured by a loan title insurance policy to contain the following identifying information:
(1) The name,…
A date section has been added to the top of the standard “Notice of Assignment, Sale or Transfer of Servicing Rights” (cx21). Various investors and clients have requested the date be added to track when the notice was given.
In addition,…
Who: National Bank of Kansas City
What: Since National Bank of Kansas City first implemented DocuTech’s ConformX, the company has remained current with the compliant documentation investors and examiners require, despite constant changes to regulations. Since implementing the system,…
From time to time DocuTech is asked provide guidance on how a seller paid buydown should be disclosed on the Truth-in-Lending disclosures. This question has become more frequent with the implementation of the new payment table disclosure requirements introduced by the Federal Reserve Board effective on January 30,…
