The U.S. Department of Agriculture (“USDA” or “Agency”) has issued a proposed rule expanding eligibility for Manufactured Housing properties and is currently seeking comments on the proposed changes of the Single Family Housing Guaranteed Loan Program Technical Handbook (“HB-1-3555”). The agency has been operating a pilot program under similar rules to those proposed, which has been successful in increasing homeownership. 

On September 15, 2023, the Consumer Financial Protection Bureau (CFPB) published an outline of rulemaking proposals to modernize the Fair Credit Reporting Act “FCRA” to include data brokers, data aggregators, data furnishers, and other entities that act as consumer reporting agencies but are not currently covered under FCRA.

DocMagic is set to make an impact at the upcoming National Mortgage News Digital Mortgage conference!

The North Carolina Secretary of State recently proposed Phase I rules implementing the state’s remote online notary law, which becomes effective next year, July 1, 2024. The rules can be reviewed here, and the comment period is open until October 16, 2023.  The Secretary of State’s office will hold a public hearing for comments on the rules September 19, 2023. The rules were published in the North Carolina Register August 15, 2023. 

On August 23, 2023, Fannie Mae published an update to the Legal Documents News and Update Archive announcing an update to the District of Columbia security instrument and the Florida security instrument instructions. 

Updated second sentence of second paragraph with TRID language. (Date of Release to Production: 08/24/23)

Updated title to read "Purchase Money Deed of Trust." (Date of Release to Production: 08/24/23)

Updated to add conditional addendum page similar to GAAD.MSC for additional third-party fees. (Date of Release to Production: 08/17/23)

Updated to match revision date on model form. (Date of Release to Production: 08/10/23)

Updated to match revision date on model form. (Date of Release to Production: 08/10/23)