Part of the closing is performed electronically while other parts remain paper-based. For example, a security instrument and other notarized documents are printed on paper, while other disclosures are sent to a borrower to sign electronically using an eSign platform.  

It's been twenty years since President Clinton signed into law the Electronic Signatures in Global and National Commerce (ESIGN) Act, which declared that electronic signatures are as legally binding as wet signatures. We're sharing five fun facts you (probably) didn't know.

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GSEs Publish Updated Interactive Spanish Translation Aids for the Redesigned URLA

Today, June 29, 2020, the United States Supreme Court handed down its decision in Seila Law v.

In response to Indiana’s Senate Bill 340, effective July 1, 2020, DocMagic is adding an additional notary certificate and witness statement to recordable documents to comply with new recording requirements in the state.  

by Richard Horn

Reproduced with permission from GarrisHorn.com

The CFPB issued today, June 22, 2020, two Notices of Proposed Rulemaking (“NPRM”) to deal with the expiration of the “GSE Patch” under the ATR/QM rule, which is set to “sunset” on January 10, 2021.  As with all proposals on such complex issues, the devil is in the details, but I am providing a quick, general overview in this post.

On June 9, 2020, the Consumer Financial Protection Bureau (“CFPB”) released a compliance aid Factsheet and updated Frequently Asked Questions (“FAQs”) related to the TILA-RESPA Integrated Disclosure (“TRID”) rule.

New Rider. This form was copied from IVRTR2.RDR minus the California recording requirements on top of page 1. (Date of Release to Production: 06/23/20)

Updated with fallback language (Section 4). (Date of Release to Production: 06/23/20)

Updated with fallback language (Section 4). (Date of Release to Production: 06/23/20)