Beginning September 3, 2020, DocMagic will remove two forms previously provided in Pre-Closing package when the property state is New Mexico:
- New Mexico Mortgage Loan Compensation Disclosure (DocMagic Form ID: NMMLCD.MSC)
- New Mexico Mortgage Loan Summary Disclosure (DocMagic Form ID: NMMLSD.MSC)
As part of a periodic review, DocMagic has determined that the forms are not necessary as the state requirement for the forms (N.M. Stat. Ann. § 58-21-31(D)-(E)) is satisfied by federal disclosure requirements of a good faith estimate and truth-in-lending statement, as provided in the Loan Estimate (12.19.8.12 NMAC).
There is no action that is required to be taken by DocMagic customers for this change. For additional questions or concerns, please contact DocMagic’s Compliance Department.
