May Compliance Recap: More States Permit Remote Online Notarization, ULDD ARM Goes Live in June

As we enter the summer months, lenders are facing a complicated lending and regulatory environment. Despite states beginning to reopen, many borrowers and lending staff are choosing to maintain social distancing. As a result, more states are permitting Remote Online Notarizations (RON) in the absence of Federal guidelines.

Lenders are also facing the start date in June for ULDD’s ARM loan data. As states, the GSEs and the Federal government all continue to make regulatory changes in response to the economic conditions, we are monitoring and reporting on the information you need to know.

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State and Investor Compliance News

FNMA/FHLMC. Fannie Mae and Freddie Mac have reminded lenders that they must send information in the Uniform Loan Delivery Dataset (ULDD) by June 1, 2020, to indicate ARM loans closed on the documents containing the new ARCC “fallback” language. Learn more.

Alaska. On April 30, 2020 Gov. Mike Dunleavy (R) signed into law AK H.B. 124 (2020), which permits electronic recordings and remote notarizations. These provisions take effect on January 1, 2021. Learn more.

Minnesota. On May 6, 2020 the Minnesota Department of Commerce published its bi-annual adjustments to certain dollar amounts promulgated under the Minnesota Consumer Credit Code (Minn. Stat. Ann. § 47.59) and Regulated Loan Act (Ibid. ch. 56). Learn more.

VA. On May 11, 2020 the VA published VA Circ. 26-20-13, Change 1, which (inter alia) amends VA Circ. 26-20-13 to waive well water testing for refinance transactions where the home is already encumbered by a VA loan. Learn more.

Document Changes


  • Fixed Rate Note Alaska Second (Cx1032): After a thorough review of Alaska’s laws, it has been determined that it is not necessary for the promissory note to list the mailing address of the borrower. As a result, we will be removing this information from Cx1032. Learn more.
  • We updated several HUD/VA Documents pursuant to our periodic audits of our copies of Federal Agency forms. Learn more.
  • Update to IRS Tax Return End Date Default Values: Due to the postponement of the federal income tax return filing deadline, we will be modifying default dates in the ConformX “year or period requested” field. Learn more.
  • Origination Statement Itemizing Certain HUD-1 Settlement Statement Fees and Credits (Cx14692): Because all loans guaranteed by the VA and RD which are supported in our system are subject to TRID, a separate HUD-1 is not required to print for them. Therefore, we have discontinued generic support for Cx14692 as of May 9th, 2020. Learn more.
  • FHA ARM Note and ARM Rider (Cx861 and Cx901): Since the incorporation of the Alternative Reference Rates Committee’s “fallback” language (“ARRC language”) into the uniform FNMA and FHLMC ARM notes and ARM riders, questions have been raised as to whether or not this language should also be incorporated into our standard FHA and VA ARM notes and riders. After careful research, we have made decisions regarding revising the fallback language in these documents. Learn more.
  • TX Affidavit of Fair Market Value of Homestead Property (Cx3653): Pursuant to a document review, we adjusted the Lender notary on our Texas Affidavit of Fair Market Value of Homestead Property (Cx3653) as of May 19th, 2020. Learn more.
  • GA Fair Market Property Values Affidavit (Cx15037): Cx15037 is provided pursuant to Ga. Code Ann. § 48-6-69(a), which requires, in connection with real property which is located in more than one county, for the intangible recording tax to be distributed between each county on a pro rata basis. After reviewing this document, we have made several enhancements. Learn more.
  • VA Form 26-6393, Loan Analysis (Cx5533): During a review of VA documents following the rolling updates to the chapters of VA Handbook 26-7, Docutech has determined that the language of VA Form 26-6393, Loan Analysis, and references in Chapter 4 of the Handbook, indicate that only the Veteran should be listed in Box 1 “NAME OF BORROWER”. We have updated the document to reflect this. Learn more.
  • VA Water System Acceptability Acknowledgment (Cx24007): We are now providing Cx24007 for this (temporary), COVID-19-related requirement. The document is formatted as an acknowledgment, under which the undersigned states his/her/their understanding of certain facts and takes responsibility to install a filtration system should the eventual well water testing fail. Learn more.
  • Net Tangible Benefit Worksheets (Cx2031 and Cx12531): Our North Carolina Tangible Net Benefit Worksheet (Cx2031), and our Tangible Net Benefit Worksheet (Cx12531) have revised the “Check One” language, since it is more conservative to select both the amortization type (ARM or Fixed) and the Balloon checkbox if both are applicable. Learn more.
  • Loan Note Guarantee – Form RD 3555-17 (Cx18891): Pursuant to our monthly audit of Federal Agency forms, we will be making substantive changes to Cx18891, to make it match the model form. Learn more.


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