Compliance Updates: April 2025 In Review

 

Our team of experts at Docutech continually review requirements for document changes and publish real-time updates. To help keep you in the know, the monthly Docutech Compliance Recap brings you the most recent compliance updates. 

Here’s our latest recap:

Document Updates

  • The California Department of Financial Protection and Innovation (DFPI) has relocated its Sacramento office to 651 Bannon Street, Suite 300, Sacramento, CA 95811. Consequently, the CA Fair Lending Notice (Cx991 & Cx16170) and CA Notice to Cosigner (Cx886) have been updated to reflect the new address. These changes will take effect on May 7, 2025. Read more.
  • To align with the Fannie Mae/Freddie Mac first lien security instrument model forms, Docutech has added the Trustee address to all second lien Deeds of Trust. Additionally, small grammatical updates have been made to ensure terms like "Trustor," "Trustee," "Grantor," "Grantee," and "Lender" appear directly after the corresponding populated fields. These changes will take effect on May 6, 2025. Read more.
  • Docutech has updated the RI Nonresident Tax Form (Cx16920) to match the latest versions published by the Rhode Island Division of Taxation. Changes include updated instructions, the option to add an email in the return section, and revised dates to reflect the model forms. These updates will take effect on May 6, 2025. Read more. 
  • The Maryland Office of Financial Regulation has relocated to 100 S. Charles Street, Tower 1, Suite 5300, Baltimore, MD 21201. Consequently, the MD Net Tangible Benefit Worksheet (Cx13909) has been updated to reflect the new address. These changes will take effect on May 6, 2025. Read more.  
  • Docutech has updated item 4 of the Builders Certification – HUD-92541 (Cx3971) to include a blank line indicating which International Energy Conservation Code (IECC) the property complies with. This update ensures clarity and compliance with energy standards. These changes will take effect on April 26, 2025. Read more. 
  • To accommodate Texas Home Equity Line of Credit (HELOC) lending for second homes and investment properties, Docutech has included dynamic non-50(a)(6) language in Cx21376 "HELOC Deed of Trust – TX" and in the Texas version of Cx21652 "HELOC Agreement." The main changes involve removing references to Section 50(a)(6) and Section 50(t) of the Texas Constitution, substituting "homestead" with "property," and omitting fair market value language. These changes will take effect on April 25, 2025. Read more. 
  • Docutech has updated the Maine Notification to Buyer of Withholding Tax Requirement (Cx1570) to align with the latest changes from Maine Revenue Services (MRS). The updates include switching the telephone number to an email address, adding a statement that MRS may request a copy of the signed document, and allowing Borrowers, Non-Purchase Entities, and Trusts to sign the document. These changes will take effect on April 23, 2025.  Read more. 
  • On April 2, 2025, Fannie Mae announced revisions to the West Virginia Security Instrument (Form 3049), effective immediately. Docutech has updated the West Virginia Security Instrument Form 3049 (Cx25328), FHA West Virginia Deed of Trust (Cx26166), and WV Deed of Trust Second (Cx516) to align with these updates. Key changes include removing language about unapplied funds, voluntary prepayments, and clarifying payment applications. Read more. 
  • Docutech has updated the CA Deed of Trust 2021 (Cx25283) and FHA CA Deed of Trust 2021 (Cx26120) to comply with San Francisco Business & Tax Regulations § 1102.1. The updates include adding the Property Address to the first page of both documents. These changes will take effect on April 18, 2025. Read more. 

Global Mapping Changes

  • Docutech has updated the default values for the "Year or period requested" sections of IRS Forms 4506-C and 4506. The "Requested Tax Return 1 End Date" now defaults to 12/31/2024, and the "Requested Tax Return 2 End Date" defaults to 12/31/2023. These changes will take effect on April 22, 2025.  Read more. 

The above information is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.