Update to the Oklahoma late fee dollar amount which will increase from $25.00 in 2017 to $25.50 as of July 1, 2018, for loans made under the Oklahoma Uniform Consumer Credit Code.

South Carolina late fee dollar amounts will increase the minimum late fee from $7.20 to $7.40 and the maximum late fee from $18.00 to $18.50 as of July 1, 2018, for loans made under the Consumer Protection Code.

Minnesota has updated the amount a lender may charge for a late fee from $5.20 to $8.32. These changes become effective on July 1, 2018.  Minnesota statutes, Section 47.59, subdivision 3(i), and 56.131, subdivision 4, provide for periodic adjustments in dollar amounts on even-numbered years.  For more information click here.

Update to the Indiana late fee dollar amount which will increase from $18.50 in 2017 to $19.00 as of July 1, 2018, for loans made under the Indiana Department of Financial Institutions.

Indiana is updating its points and fees threshold for purposes of its high cost test on July 1, 2018 from $44,000 to $48,000.  This change occurs on even-numbered years.  Under Indiana Code § 24-9-2-8, beginning on July 1st, loan amounts under $48,000 may only have maximum points and fees of 6%.  For loans above $48,000, loans may only have maximum points and fees of 5%.

South Carolina is updating its Prepay Penalty threshold beginning July 1, 2018.  For 2018, the threshold is being increased from $255,000 to $270,000.  This change often takes place on even-numbered years.

On July 1, 2018, Fulton County, Georgia will require all recording documents to contain the tax parcel identification number on the first page of each recordable document.  The change becomes effective due to the passing of Georgia House Bill 1036.  DocMagic has updated its documents to automatically print the tax parcel identification number on the first page of each recorded document.  

The Notary Fee (NF) charge code is DocMagic's system has been updated to be treated as a finance charge.

DocMagic is removing the illinois Transfer of Servicing (ILTS.MSC) form from the state build and Illinois Disclosure Matrix pursuant to changes in Adopted Rules (2017 Illinois Regulation Text 457955) that amended Ill. Admin. Code tit. 38 § 1050.820(c).

Hotfix for Illinois Private Mortgage Insurance Disclosure Form (ILPMI.MSC) to prevent form from inadvertently printing in files with no PMI.  Update includes an update to the selection logic to more accurately detect PMI in a file and select accordingly.