Updated text in first and fifth checkbox options. (Date of Release to Production: 02/22/24)

Updated text in first and fifth checkbox options. (Date of Release to Production: 02/22/24)

Updated text in first checkbox option. (Date of Release to Production: 02/22/24)

Updated by replacing the "Lender" field with "Provided By". (Date of Release to Production: 02/22/24)

Updated by replacing the "Lender" field with "Provided By". (Date of Release to Production: 02/22/24)

DocMagic will be updating programming for tangible net benefit disclosures to use prior lien information to identify applicable benefits in refinance loans, such as an interest rate that is lower in the subject loan than the loan being refinanced, where this is not already considered. 

On January 31, 2024, Fannie Mae announced that the model form for the standard Texas security instrument (Form 3044) has been revised.  Paragraph 27 entitled “Release” was updated to correct a typographical error. 

DocMagic will be making updates for Department of Veterans Affairs (“VA”) guaranteed loans throughout February.  The updates are being made for VA loans following a periodic review of lending and disclosure requirements to ensure that loan packages are as accurate as possible.      

The updates include:

DocMagic is updating our Loan Detail Report to include enhanced information as calculated by DocMagic for compliance with TILA-RESPA Integrated Disclosure (“TRID”) Rules.

In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Here is the list of forms created or modified in March 2024.

To view all New/Revised Documents, click here.