Typically when prices drop, retailers see sales rise as consumers take advantage of stronger buying power. But the mortgage market is in a curious place. Interest rates are at historic lows, but sales remain flat. The reasons are many –…
Mortgage rates are at historic lows and so many DocuTech clients are working as fast and furious as they can to help borrowers take advantage of the great deals in the market….
The following configuration changes will be made to the following Colorado disclosures, effective October 11, 2011:
CO Loan Product Choice (Cx2749): This disclosure is required under Colo. Rev. Stat. Ann. §5-3.5-102(1)(g)(III) to be given by a lender in connection with a covered loan….
The Federal Reserve Board issued an interim rule on December 22, 2010, amending Regulation Z and clarifying certain aspects of the September 24, 2010 interim rule. The Board revisited 12 CFR §226.18(s)(2)(i)(B)(2) to clarify that creditors must disclose the maximum possible rate that will apply at any time during the first five years after the date on which the first regular periodic payment will be due,…
Prior to May 5, 2011, Mont. Code Ann. §32-9-124(3) required a loan originator who worked for a mortgage broker to provide a “Mortgage Loan Origination Disclosure,” with statutorily required language, to a borrower before providing to him any residential mortgage services….
The following Pacific Union Financial, LLC programs are now supported in ConformX:
Click here to view the full list of investors supported in ConformX….
Illinois recently enacted the “Illinois Religious Freedom Protection and Civil Union Act” (2010 Ill. Legis. Serv. P.A. 96-1513), which extends to civil unions “the obligations, responsibilities, protections, and benefits afforded or recognized by the law of Illinois to spouses.”…
Oregon administrative law sets forth specific requirements concerning lock-in agreements, as follows:
“For residential mortgage transactions . . . a mortgage banker that does not fund a loan or mortgage broker that does not fund a loan must prepare and maintain the following:
(c) In the case of residential or single family loans,…
Ask lenders what two issues they spend the most time dealing with, and the answer is often compliance and dealing with the large amounts of paper generated during the mortgage process.
Compliance regulations are constantly changing – and the burden of proving compliance is becoming greater,…
On August 1, 2011, DocuTech announced a change to the NC Refinance – Statement of Borrower Benefits disclosure, Cx2031. The previous announcement stated DocuTech would be using Cx12531 (Tangible Net Benefit Worksheet) in place of Cx2031 as Cx12531 provided more detailed information about the benefits the borrower will be receiving upon refinancing their loan….
