On February 14, 2011 HUD issued Mortgagee Letter 2011-10 addressing changes to the Annual Mortgage Insurance Premiums. Included in this Mortgagee Letter was the addition of Annual Mortgage insurance for loans with amortizations <=15 years with LTV’s at or below 90%….
DocuTech will be making two changes to its generic Buydown Agreement (Cx25). The third paragraph in the Agreement will be modified to state the following:
‘In order to comply with FNMA guidelines and protect the availability of the buydown funds,…
Cx 1496 – Notice of Transfer is currently printing for Bank of America and Wells Fargo Investors. This document, however, is not required to be used by either of these investors. DocuTech uses Cx 21 – Assignment Sale or Transfer of Servicing for this same purpose….
Minor changes were made to IRS Form 4506 (cx23) to update to the latest version of the form. The updated document will be available August 16, 2011.
August 12, 2011
DR 117373…
Some loans imported to ConformX contain descriptive text for the key factors that adversely affect the borrowers’ credit scores. Others use the credit bureau reason codes and print the Credit Score Matrix (cx5416) so the borrower can understand what the codes mean….
Technical corrections and clarifying amendments to Regulation X were included in 76 FR 40612. Please see related article “Summary of RESPA Technical Corrections” in this month’s DocuTech Newsletter for an outline of the details.
Effective August 10,…
2011 Me. Legis. Serv. Ch. 427 repealed Me. Rev. Stat. Ann. tit. 9-A, §8-206-J, which, under Subsection (2)(B), had restricted late charges on residential mortgage loans to 5% of the amount of the late payment, which payment is at least 10 days delinquent….
IDAHO FALLS, IDAHO, Aug. 3, 2011 – DocuTech Corp. (DocuTech), a leader in compliance services for mortgage documents, has once again been recognized by Mortgage Technology magazine as one of the year’s Top Service Providers.
DocuTech met the four major criteria set by Mortgage Technology for inclusion in the listing: continued service and technology advances,…
Every major change to an industry’s regulatory environment comes with a cost. Sometimes the cost is direct and known ahead of time, but often the true cost does not become clear until after implementation….
On August 10, 2011, technical changes applicable to 24 CFR §§3500 et seq. (“Regulation X”) will be put into effect(see 76 FR 40612). These technical changes are due both to ambiguities that were inadvertently included when Regulation X was amended in November,…
