DocMagic will be updating programming for tangible net benefit disclosures to use prior lien information to identify applicable benefits in refinance loans, such as an interest rate that is lower in the subject loan than the loan being refinanced, where this is not already considered.
On January 31, 2024, Fannie Mae announced that the model form for the standard Texas security instrument (Form 3044) has been revised. Paragraph 27 entitled “Release” was updated to correct a typographical error.
When a buydown subsidy is split between payers, most commonly between the borrower and lender or seller.
DocMagic will be making updates for Department of Veterans Affairs (“VA”) guaranteed loans throughout February. The updates are being made for VA loans following a periodic review of lending and disclosure requirements to ensure that loan packages are as accurate as possible.
The updates include:
DocMagic is updating our Loan Detail Report to include enhanced information as calculated by DocMagic for compliance with TILA-RESPA Integrated Disclosure (“TRID”) Rules.
The Consumer Financial Protection Bureau (“CFPB”) recently issued two advisory opinions regarding background screening and file disclosure requirements under the Fair Credit Reporting Act (“FCRA”). Effective January 23, 2024, the opinions are issued as interpretive rules under the CFPB’s auth
On February 27, 2024, the U.S. Supreme Court is set to hear oral arguments in the National Bank Act (“NBA”) preemption case. The question before the Supreme Court is whether the NBA preempts the application of state escrow interest laws to national banks.
Join us every Tuesday and Thursday at 10:00 AM Pacific in The Agent's Lounge on Zoom to elevate your notary skills through our exclusive biweekly training webinar!
Immerse yourself in a comprehensive session where we showcase the intricacies of DocMagic's Remote Online Notarization (RON), share valuable industry updates, and engage in an interactive Q&A session.
This is an opportunity to become a vital part of DocMagic's database of Remote Online Notaries and eNotaries, equipped and ready to seamlessly support eClosings.
The Virginia legislature recently introduced House Bill 1372 (“HB 1372”) which if passed, will amend and reenact portions of the Virginia code on notarial acts. The bill would add additional identity-proofing requirements to the state’s notarial requirements that are already common in other states.
The bill provides a new definition for “knowledge-based authentication assessment” under VA Code Ann. § 47.1-2 with the following meaning:
