New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

New Freddie Mac/Fannie Mae Lien Document. (Date of Release to Production: 04/04/24)

In 2023, North Dakota enacted Senate Bill 2090 (“SB 2090”) which added Chapter 13-12  Residential Mortgage Lenders to the North Dakota Century Code and established a new licensing requirement for “residential mortgage lending.” As noted in our previous article, the definition of residential mortgage lending encompasses both mortgage lenders and brokers involved in the “act of arranging or pro

Wisconsin Senate Bill 773 (2023 Wisconsin Act 128), published on March 22, 2024, includes the repeal of statutes related to state disclosure requirements for adverse action notices, transfer of servicing notices, and variable rate loans.  The Act was effective the day after publication, on March 23, 2024, with the exception of certain administrative rules which are generally effective on the first day of the month following publication.

DocMagic previously announced the availability of the revised Uniform Underwriting and Transmittal Summary (Fannie Mae Form 1008 / Freddie Mac Form 1077) (Form ID: UUATS.MSC) in October 2023. When DocMagic programmed the UUATS.MSC, the section titled “All Other Monthly Payments” was programmed to include all liability and proposed housing expense payments. This provided a “Total of All Payments” amount that previously enjoyed its own line item on the previous version of the form.