Update to the programming of the Initial Escrow Account Disclosure Statement, Escrow Waiver, Tax Record Info Sheet, and First Payment Letter (IEADS.MSC, EW.LSR, GATAX.LSR, & PAYMENT.LSR) to show only the main subject property address for cross collateralization loan types.
Update to some forms in order to streamline the post fill experience when using eSign. (DQ.LSR, EC.VA, VARL.LSR, 261805.VA, 268261A.VA, 261880.VA,COLTOB.MSC, CIV.MSC-NOTARY)
The maximum principal amount of a loan that may be considered under this definition is now $581,206.50 and is effective for all completed applications subject to the Act on or after January 1, 2024 (retroactive).
New Configuration option for calculating discount points based on the loan amount on a VA IRRRL instead of the prior lien balance. Please reach out to Customer Service if you would like this change.
Update to the programming of the Texas Home Equity Note (TXHESEC.NOT) for page 4, Section 13. Complaints and Inquiries Notice to be updated “…subject to oversight by the _______________________”. to default the form to add “Office of Consumer Credit Commissioner” but allow the option for other text to be added instead.
Update to TN state audit for the audit message to better describe when the interest rate exceeds the formula rate.
Update to programming of the Gift Letter (GL.MSC) to work with a new rule to provide one copy of the form for each gift of cash or gift of equity and to include the associated borrower on the form. This will only apply if the rule is added to a customer’s account. Please contact Customer Service if you wish to make this update.
Update to programming of VA Loan Summary (260286.VA) For 47C to mark approve if the value is “Approve/Eligible”.
Update to the programming of the Illinois Prepay Audit to look at APR instead of interest rate to trigger when rate exceeds 8%.
New plan update of all Deeds of Trust and Mortgages to allow for the option to choose between “Subject Property' address or ‘Currently Residing In' address to be used on pg 1. Please contact Customer service if you would like to update your settings.
