On February 5, 2019, DocMagic’s Compliance Department will make a programming change to the Louisiana Mortgage Loan Origination Agreement (Form ID LAMLOA.MSC) based on guidance received from the Louisiana Office of Financial Institutions, and requirements of Louisiana Revised Statutes § 6:1098.

DocMagic will update the form to display the Originator’s NMLS number instead of state license number on the line for “Originator License #” on page 3.

If you should have questions, please contact DocMagic’s Compliance Department

On January 31, 2019 the New Jersey Department of Banking and Insurance released Bulletin No. 19-02 regarding the annual change required under the New Jersey Home Ownership Act of 2002 (the “Act”). As part of this change, the definition of a “high cost home loan” requires an annual review and in some cases, an adjustment of the maximum principal amount that will be subject to the triggering provisions of the Act.

Effective February 4, 2019, DocMagic will remove the form Missouri Choice of Insurance Notice (Form ID MOCOIN.MSC) from Missouri package.

A review by DocMagic’s Compliance Department determined that the Missouri Choice of Insurance Notice (Form ID MOCOIN.MSC) is not required for Missouri loan packages as the Missouri Anti-Coercion Disclosure (Form ID MOACD.MSC) is currently being provided to meet the same legal requirement.

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 February, 2019.

To view all New/Revised Documents, click here.

New VA Form.  (Date of Release to Production: 02/15/19)