Document Updates: PMI Disclosure Modifications for Construction Loans (Cx29, Cx14292, Cx14293)
Docutech is updating a few generic private mortgage insurance (PMI) disclosures to correspond with a ConformX system enhancement that allows allows PMI to be charged during the construction phase. The Homeowner’s Protection Act (HPA) requires certain PMI disclosures in connection with a residential mortgage transaction—including construction loans….