Updated MERS definition and applied new Fannie Mae Authorized Changes.  (Date of Release to Production: 05/23/19)

Updated MERS definition and applied new Fannie Mae Authorized Changes.  (Date of Release to Production: 05/23/19)

Additional space was added to the "Approved Lender" field to allow more space for Lender Name.  (Date of Release to Production: 05/16/19)

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 May, 2019.

To view all New/Revised Documents, click here.

After performing a routine inspection of DocMagic’s FHA forms, the Compliance Department is updating the selection logic for the Borrower’s Identity-Of-Interest Certification form (Form ID: BIIC.FHA). Effective June 13, 2019, the form to only generate for FHA 203K Purchase transactions.  Currently, the form generates in Initial Disclosure packages for all FHA Purchase transactions.  The Borrower’s Identity-of-Interest Certification Form (Form ID: BIIC.FHA) is also available in Forms List allowing customers to access the form at any loan stage.

On May 2, 2019, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (NPRM) relating to Home Mortgage Disclosure Act (HMDA) coverage thresholds and partial exemptions.  It proposes to raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the rules of HMDA.