Cx2999 is required to be given by a mortgage banker (who is also a residential mortgage loan originator) to a residential mortgage loan applicant at the time of application, pursuant to Tex. Fin. Code §157.007 and 7 Tex. Admin. Code §81.7….
Kan. U.C.C. Stat. Ann. §16a-2-502 limits the amount of late charges that may be assessed in connection with a consumer credit transaction (which is subject to the provisions of Kansas’ Uniform Consumer Credit Code [UCCC]) to 5% of the unpaid amount of a delinquent installment,…
The provisions of the Kansas Uniform Consumer Credit Code (UCCC) apply to “consumer loans” which, in relevant part, are defined as debt secured by an interest in land. However, “consumer loans” do not include first mortgages, unless:
1….
For loans secured by property located in the District of Columbia, DocuTech provides Cx2485 “DC Real Property Recordation and Transfer Tax FP 7/C.” which is a duplicate of the official FP 7/C tax form published by the D.C. Office of Tax and Revenue (http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594401.asp),…
Just a quick update on the progress of the combined RESPA/TILA disclosures being vetted by the CFPB. In January the CFPB released two more versions of the settlement statement for public review. These were the 7th and 8th forms sent out for informal review and comment. …
IDAHO FALLS, IDAHO, Feb. 13, 2012 – To support the company’s continuing growth following the acquisition of LSSI in December, DocuTech Corp. (DocuTech), a leader in compliance services for mortgage documents, has opened a new office in Scottsdale,…
Customers frequently ask DocuTech questions regarding best practices when making disclosures to borrowers. One of the most asked questions has to do with the problem with multiple applicants on a single loan and whether each applicant needs to receive disclosures or whether it is sufficient to provide the disclosures to one borrower without any compliance concerns. …
So far, the CFPB has been busy taking over regulatory duties inherited from the Fed and other agencies. With the appointment of Richard Cordray as director of the CFPB, the question now becomes, “What are the top priorities for new regulations?”
In January,…
Formatting of the “Understanding which charges can change at settlement” section on the ConformX Good Faith Estimate (cx14221) has been modified. The light shading has been removed as permitted by the HUD RESPA Rule FAQ’s and each item in the chart has been bulleted. …
The IRS updated Form 4506 “Request for Copy of Tax Return” (cx23) and Form 4506-T “Request for Transcript of Tax Return” (cx3095). The new 2012 versions include various textual changes, including a cautionary statement to only sign if all applicable lines have been completed….
