VA loan which is made to a veteran and (1) one or more non-spouse borrowers, (2) one or more other non-spouse veterans, not using entitlement, or (3) one or more other non-spouse veterans, all using their entitlement.
On May 26, 2022, the Consumer Financial Protection Bureau (“CFPB”) published an Interpretive Rule to provide clarity regarding the scope of State enforcement authorized under section 1042 of the Consumer Financial Protection Act of 2010 (“CFPA”) and related provisions. Specifically, the Interpretive Rule states that section 1042 allows States (State Attorney Generals and State Regulators) to enforce any provision of the CFPA, including section 1036(A)(1)(A), a provision that “mak
The Consumer Financial Protection Bureau (“CFPB”) recently announced that it is launching a new system of providing guidance through the release of Consumer Financial Protection Circulars (“CFPCs”). The CFPCs are policy statements that will be issued to state and federal government agencies responsible for enforcing federal consumer financial law. The circulars are also being released publicly and posted to the CFPB’s website and in the Federal R
The State of California passed into law the Fair Appraisal Act (the “Act”), along with over 30 other bills on September 28, 2021, as part of state efforts to promote affordable housing and fair housing principles. Specifically, the Act addresses discrimination during the appraisal process of a residential real estate transaction. See our prior article discussing this change here.
On May 3, 2022, the Federal Housing Finance Agency (“FHFA”) announced that the Supplemental Consumer Information Form (“SCIF”) will once again be required for loans sold to Fannie Mae and Freddie Mac (the “GSEs”) with application dates on or after March 1, 2023.
The Consumer Finance Protection Bureau (“CFPB”) recently published Spanish translations of Regulation B sample forms.
DocMagic is releasing an update on June 13, 2022, to the DocMagic eSign platform that will create an automatic paper fulfillment process for Closing Disclosure and Pre-Closing packages for rescindable loans.
Georgia recently passed House Bill 974 to mandate new requirements for electronic filings and for information that must be provided on the first page of a security deed.
Arizona recently issued a Final Rule which provides new requirements for remote online notarizations. The Arizona Secretary of State adopted new and amended rules, including modifications to multiple definitions and adds new Rule R2-12-1309 to the Arizona Administrative Code.
DocMagic, Inc. announced that it attained MISMO’s eClosing System and remote online notarization (RON) certifications for its Total eClose™ solution.
