On January 2, 2008 new mortgage lending reguations (940 CMR 8.00 et. seq.) became effective in Massachusetts. The revised section 8.05 removes the previous disclosure requirements for the MA Mortgage Lender Disclousure and the MA Mortgage Broker Disclosure. …
Maine adopted a new rule requiring lenders to provide a “Reasonable, Tangible Net Benefit Disclosure Form” at or before closing. This new form is required to be given for all loans made after December 31, 2007. DocuTech has created the ME Reasonable Tangible Net Benefit Disclosure Form to meet this requirement and it will print in all Maine Initial Disclosure packages. …
The Colorado Division of Real Estate has issued Emergency Rule 4CCR 725-3 restricing the use of prepayment penalties. The new rule prohibits prepayment penalties that extend past the adjustment date of any teaser rate, payment rate or interest rate included in a mortgage loan. …
MERS released Policy Bulletin Number 2007-2 announcing that effective immediately, all MERS documents for New York must contain the street address of MERS. DocuTech has added the required address to the MERS version of our New York mortgages and New York assignments to fill this requirement….
New lending regulations fall under two umbrellas—clarifying what constitutes a higher priced, high-cost or predatory loan and reforming the rules to disclose the costs of a mortgage. To avoid penalties for inadvertently funding a high-cost loan or messing up a disclosure,…
As part of DocuTech’s routine review and maintenance of state law mortgage document requirements, two new standard state Initial Disclosures will print effective 4/29/11.
UT Loan Notice cx15693
Informs borrowers that their mortgage or the servicing of their mortgage many be sold or assigned,…
With 16 years of experience in the mortage industry, DocuTech understands the many layers of compliance that our clients must address to eliminate risk and increase profits….
Since 1991, DocuTech has been providing lenders of all sizes with the compliant, precision document packages needed to close loans quickly and efficiently.
Our customers benefit from an affordable software platform that can generate documents that guaranteed to be compliant with federal,…
The best word to describe the state of the mortgage industry since 2008 is paralysis.
Paralysis may be an odd word to describe an industry that has spent the past three years scrambling to keep borrowers in homes,…
– DocuTech Corp. (DocuTech), a leading provider of mortgage compliance documents, closing documents and initial disclosures for the mortgage industry, announced that Joe Cliver has been named Account Executive for lenders in the Northeast United States….
