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DocMagic Provides New Options for Split Buydowns

DocMagic is updating our handling of disclosure of loans with a buydown subsidy paid by a combination of parties including the borrower.  DocMagic currently does not allow processing of these types of loan transactions by use of a fatal audit.  DocMagic is making an update to provide for a revised disclosure by default as well as offering other options that lenders may choose to utilize based on their own interpretation of the requirements of Regulation Z and the specific terms of their loan transaction documents.

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