About a year after issuing a Notice of Proposed Rulemaking on Personal Financial Data Rights, on October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (the “Rule”) under Section 1033 of the Consumer Financial Protection Act of 2010 (“CFPA”).  The Rule, also referred to as the “open banking rule,” implements Section 1033 by giving consumers a right to request their consumer financial information from a cove

The Department of Housing and Urban Development (“HUD”) recently issued a final rule that updates how participating housing counseling agencies may provide housing counseling services. Under HUD’s new regulations, participating agencies are no longer limited to only in-person housing counseling services. 

Recovery of costs laid out upfront, for example, recoupment of expenses such as the cost of discount points or closing costs for a loan through lower monthly payments.

Updated to use dynamic signature lines. (Date of Release to Production: 10/31/24)

Removed "6" from ""6 months" references in the sixth and eighth bullet points; they are now fillable data. (Date of Release to Production: 10/31/24)

Updated the "How Much Money Can I Borrow for This?" section. (Date of Release to Production: 10/31/24)

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 Consumer Financial Protection Bureau (“CFPB”) recently published a Nonbank Registration Orders Rule Coverage Chart  that nonbank entities can review to determine if they are required to register an order issued against them under the Nonbank Registration Orders Rule (the “Rule”).

The Department of Veterans Affairs (“VA”) recently published guidance on what steps may be taken regarding a VA-guaranteed loan when the related property is affected by a natural disaster such as a hurricane or wildfire. The VA Guidance on Natural Disasters form provides information for veteran borrowers, mortgage lenders, and mortgage servicers. 

The U.S. Department of Agriculture - Rural Development (“USDA”) is asking for feedback on proposed revisions to several chapters of the Single Family Housing Guaranteed Loan Program Technical Handbook (“HB-1-3555”) and to Form  RD 3555-21, Request for Single Family Housing  Loan Guarantee.