Although compliant with Illinois law (specifically Ill. Admin. Code tit. 38, §1050.1010), a textual change will be made to Cx1909 to specify that the borrower is not obligated to pay the Broker Loan Fee when the mortgage transaction contains lender-paid broker compensation,…
Each year, DocuTech performs a quality control audit of all its state-specific disclosures, not only to ensure that these disclosures are in compliance with applicable state and federal law, but also to improve their quality.
DocuTech’s Maryland Broker Contract,…
FHA Single Family Lender’s Guide 4155.2, ch. 6.B.2.a requires lenders to use the FHA “Model Mortgage Form,” in accordance to the instructions set forth in Ibid. ch.12.A.2, for FHA-insured mortgages. Subsection (b) of the instructions, which provides for modifying the language that precedes the uniform covenants in the “Model Mortgage Form,” states the following (in relevant part):
“The lender should use FNMA/FHLMC language ….
DocuTech’s Compliance Department is pleased to announce the publication of the newest edition of its disclosure matrix: “Disclosure Matrix 2012 – Short Form.” This Matrix lists:
* The ConformX name and number of each generic Federal- and State-specific disclosure DocuTech provides;…
DocuTech has recently made changes to our supported investor list. Please visit this link to see the changes Investor Information.
Thank you.
April 20, 2012…
Minn. Stat. Ann. §58.16(2)(a) requires a residential mortgage originator to enter into a written contract with each borrower from whom the originator either requires an advance fee or for whom the originator offers to act as an agent to help obtain a loan secured by a lien on real estate….
Bankers as Buyers is an annual report prepared by the William Mills Agency, along with the assistance of analysts and bankers nationwide, “to help financial institutions and those companies serving them validate their strategic IT direction, compare investments in technology by type or direct further research.”
Below are excerpts of the 2012 report concerning compliance and regulatory spending….
Materials recently released by the Consumer Financial Protection Bureau provide significant insight into its stance on the rules that will govern integrated mortgage disclosure. Issued in the context of Small Business Regulatory Enforcement Fairness Act (SBREFA) requirements,…
HUD published detailed changes to the FHA Single Family Annual Mortgage Insurance Premium (Annual MIP) and Up-Front Mortgage Insurance Premium (UFMIP) in Mortgagee Letter 2012-04.
The Temporary Payroll Tax Cut Continuation Act of 2011 requires FHA to increase the Annual MIP it collects by 0.10 percent….
Cx995 “MI Principal Residence Exemption (PRE) Affidavit” has been updated to reflect the latest version of State Form 2368. In addition, Cx997 “MI Request to Rescind Principal Residence Exemption (PRE)” has been updated to reflect the latest version of State Form 2602….
