The CFPB has announced that it is rescinding seven policy statements that were issued last year to assist financial institutions during the height of the pandemic.  Issued between March 26 and June 3, 2020, the policy statements provided some flexibility in complying with certain regulatory filings and consumer finance laws.

The Redesigned URLA (Effective 1/2021) became required by Fannie Mae and Freddie Mac for all new applications dated March 1, 2021 and after. DocMagic’s URLA Resources page with all prior articles discussing the Redesigned URLA can be found on our website, Compliance Edge.

South Dakota recently enacted Senate Bill 193 (2021), which makes changes to the state’s remote notary statute by defining terms and adding Section § 18-4-29 to S.D. Codified Laws, which provides a new certification of acknowledgment for a notarial act performed using video communication.

In a recent press release, the U.S. Department of Housing and Urban Development (HUD) announced the release of their quarterly report to Congress regarding the status of the Federal Housing Administration (FHA) Single-Family Mutual Mortgage Insurance Fund Programs.

DocMagic's eClosing team leader Dan McGrew, president and CEO of Elite Digital Advisors, tackles real questions that we're hearing from lenders. 

A part of the remote online notarization process that includes credential analysis of the signer’s government-issued identification card via an automated third-party review, including checks for tampering or other fraud.

Updated the "For Our Services" section on page 1. (Date of Release to Production: 03/30/21)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration (collectively, the “Agencies”) have jointly proposed twenty-four new questions and answers that address private flood insurance and will supplement the existing Interagency Questions and Answers Regarding Flood Insurance.

New FHA Maryland Security Instrument with May Language. (Date of Release to Production: 03/16/21)

New FHA Maryland Security Instrument with May Language. (Date of Release to Production: 03/16/21)