Here are the latest and greatest compliance updates from our team of experts who are continually reviewing requirements for document changes and publishing real-time updates.
- HELOC Agreement and HELOC Deed of Trust TX: After reviewing our Texas HELOC documents, we have adjusted language in our TX HELOC Agreement (Cx21652) and HELOC Deed of Trust (Cx21376) to clarify provisions related to Texas 50(a)(6) home equity loans. Read more.
- Louisiana Mortgage Loan Origination Agreement: Louisiana Revised Statute Section § 6:1098(A) requires a mortgage broker to retain a signed copy of the residential mortgage loan brokerage contract in the customer’s file. Previously, the document had two checkboxes, one to check for “borrower's copy” and the other to check for “broker's copy.” Read more.
- Updates to Mortgagee’s Assurance of Completion: Pursuant to our monthly audit of federal agency forms, we have updated our Mortgagee’s Assurance of Completion (Cx3556) to match the updated model form published by HUD. Read more.
- Updates to Request Pertaining to Military Records & Statement of Purchaser or Owner Assuming Seller’s Loan: Pursuant to our monthly audit of federal agency forms we have updated VA form 66-6382, Statement of Purchaser or Owner Assuming Seller’s Loan (Cx21074) and Request Pertaining to Military Records (Cx17072) to match the updated model forms from the VA. Read more.
- Rhode Island Notification to Buyers of Withholding Tax Requirement (Cx1028): After review of Rhode Island Notification to Buyer(s) of Withholding Tax Requirement, Cx1028, we were unable to find a reason or requirement for a lender’s signature. In the interest of simplifying the document, we have removed the lender’s signature line generically. Read more.
- CA HELOC Deed of Trust, CA Deed of Trust-second, and FHA CA Deed of Trust: We are making some adjustments to the document code of several of our CA security instruments to designate which address will print. We will now determine if a specific borrower’s address passed in the payload. Read more.
- Second Mortgage and HELOC documents: After a legal review of Second Mortgage and HELOC documents, we made updates to various documents that went into effect on August 17, 2023. Read more.
- Updates to Missouri Notary: After an in-depth review of Missouri notary law, specifically VAMS 486.600, it was noted that it makes more sense for notarial certificates on the Signature Name Affidavit to be jurats rather than acknowledgments. Read more.
- Updates to For Your Protection Get a Home Inspection and Builder’s Certification of Plans, Specifications and Sites: Pursuant to our monthly audit of Federal Agency forms we have updated our HUD forms “For Your Protection: Get a Home Inspection” (Cx2283) and “Builder’s Certification of Plans, Specifications and Sites” (Cx3971). Both of these documents have new model forms. Read more.
- USDA/RD Origination Stacking Order Checklist – Attachment 15-A (Cx19212): Pursuant to our monthly audit of Federal Agency forms we have updated our Cx19212 “USDA/RD Origination Stacking Order Checklist – Attachment 15-A” to match the updated model form published by USDA/RA. Read more.
- Updates to VA Compliance Inspection Report (Cx5402): Pursuant to our monthly audit of Federal Agency forms we have updated our “VA Compliance Inspection Report” (Cx5402) to match the updated Department of Veterans Affairs Form 26-1839. Read more.
- District of Columbia Security Instrument and Florida Security Instrument Instructions Revised by Fannie Mae: A timeline for stage testing the documents affected by these changes will be announced on Docutech’s Compliance website. Read more.
For full details related to document and mortgage compliance updates, sign up for real-time Compliance updates at info.docutech.com/subscribe-compliance.
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.