Updates

March 03, 2020

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

RD198018/22459 – Conditional Commitment for Single Family Housing Loan Guarantee #RD 3555-18. Docu Prep updated the document to match the recently published updated model form. Completed 03/03/2020.

January 17, 2020

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

Affecting WA, NV, GA, NJ, and FNMA

IDWARATE/10554 – WA Rate Lock Agreement/Disclosure. Docu Prep updated the document to match the recently published WA FDI model form. Completed 01/16/2020.

ID1086NV/20342 – NV Commercially Reasonable Means or Mechanism. NV legislation (AB468) that recently went into effect combines the mortgage terms, “Mortgage Broker” and “Mortgage Banker,” into “Mortgage Company.” Docu Prep is updating this document to use the new term and making it available independent of whether a “Mortgage Broker” or “Mortgage Banker” is originating a loan. Completed 01/16/20.

NVDISFEE/24436 – NV Disclosure of Fees Earned by Mortgage Broker, NRS 645B.305. NV legislation (AB468) that recently went into effect combines the mortgage terms, “Mortgage Broker” and “Mortgage Banker,” into “Mortgage Company.” Docu Prep is updating this document to use the new term and making it available independent of whether a “Mortgage Broker” or “Mortgage Banker” is originating a loan. This document will now show up in both “Mortgage Broker” and “Mortgage Banker” packages. Completed 01/17/20.

IDGATA/27763 – GA Loan Originator Temporary License Disclosure. Georgia enacted a law in late December 2019 that requires mortgage loan officers operating under temporary authority per Federal 12 USC § 5117 must provide this disclosure. Docu Prep has created the disclosure but has not added to any packages. If you have, or plan to have, any loan originators operating with temporary authority in the state of Georgia, please email support@docuprep.com. Completed 01/15/20.

FNMA Form 2100 – Community Land Trust Ground Lease Rider. Docu Prep is aware that Fannie Mae has developed a standard rider for the rare circumstances in which a lender may be originating a Community Land Trust Mortgage Loan. If you need of this form, please email support@docuprep.com. Will be completed upon request.

Loan Analysis NJ High Cost Threshold The NJ Department of Banking published in bulletin 20-01 on January 14, 2020, the High-Cost Threshold for homes for 2020 is $506,059.40. Although it was not published until January 14, it back-dated the effective date to January 1, 2020. Docu Prep has updated its Loan Analysis with the new threshold. Completed 01/15/2020. 

January 9, 2020

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

IDMALDIS/23734 – Massachusetts License Disclosure. The title and citation on the document were updated to match the promulgating statute. Completed 01/07/2020.

DCTAXEX/8121 – D.C. Real Property Recordation and Transfer Tax Form FP 7/C. This document was updated to match the version recently published by Washington D.C. Completed 01/08/2020.

January 6, 2020

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

MASFLOOD/25016 -Massachusetts Flood Notice Disclosure. Docu Prep updated our form to most current version. Completed 01/03/2019.

January 1, 2020

Document Updates and Changes

CCPA Compliance, Loan Analysis Annual Threshold Changes, FL Notary Blocks

As a part of CCPA, we have added the following general use document to initial disclosures on CA loans to help clients comply with CA Civ. Code 1798.100(b), which requires disclosure of the categories of Personal Information businesses will collect from consumers.

CACCPR/27746 – California Consumer Privacy Rights Notice

Please note the following regarding this document: (1) that it was developed by Docu Prep, (2) that Docu Prep does not engage in the practice of law and you should have this form reviewed by your own attorney or counsel, (3) that no model form currently exists for this document, (4) that the Attorney General of California is still developing regulations for CCPA that could change the requirements for this document, (5) that it is subject to change, as necessary, and (6) that clients may ask for it to be removed by contacting support@docuprep.com. Completed 01/01/2020.

We have updated the Privacy Policy located on our website to conform to requirements under the California Consumer Privacy Act (“CCPA”). Completed 01/01/2020.

The Loan Analysis has been updated to match 2020 published thresholds, including: FHFA conforming loan limits; CFPB High-cost and QM limits; and state-specific thresholds. Completed 01/01/2020.

Florida document notary blocks (on documents requiring a notary) were updated to meet the requirements of HB 409. Completed 01/01/2020.

December 5, 2019

Document Updates and Changes

IRS Taxpayer Consent Form

We have added a new form USIRSTXC/27737 IRS Taxpayer Consent to comply with the Taxpayer First Act of 2019. This form will be added to all initial disclosures as of 12/6/2019. If you would like the form to be in a different document package please contact us.

October 29, 2019

Document Updates and Changes

Trust Document Changes

INVIVRID/7297 -Inter Vivos Revocable Trust Rider. Docu Prep has updated this rider to include “settlor” signing verbiage not accounted for in standard trust signature blocks but applicable to this form. See, Fannie Mae Selling Guide (Oct 2, 2019 publication), page 1144, for an example.  Completed 10/29/2019

INTVIACK/7298 -Inter Vivos Revocable Trust Rider Settlor Acknowledgement. This document is no longer necessary with the language added to the Trust Rider. This document will be removed as of 11/5/2019. If you prefer to keep this document in your trust package please let us know. To be completed 11/5/2019

October 28, 2019

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

ADPAINFO/21454 -PA Important Information about your Loan. This form is no longer necessary and has been removed. Completed 10/24/2019

COITEMIZ/22105 -Colorado Itemization of Fees. This form is no longer necessary and has been removed. Completed 10/22/2019

MOHELOC/26307 -Missouri HELOC Security Instrument. Updated the reference to the full legal description on page 1. Completed 10/24/2019

CA Security Instruments -Added the street address and the parcel ID/Tax ID to page 1 to comply with San Francisco County recording requirements. Completed 10/24/2019

October 15, 2019

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

USA92541/4549 – Builder’s Certification of Plans, Specifications, & Site. Docu Prep updated the form. Completed 10/14/2019

VACMCERT/21334 – VA Common Lender and Borrower Certifications. Docu Prep updated the Power of Attorney Certification to match small changes made in VA’s recently published updates to VA Lenders Handbook, Chapter 9(8)(c). Completed 10/14/2019

VPOACERT/21506 – Certification when a Power of Attorney is Used. Docu Prep updated this Certification to match small changes made in VA’s recently published updates to VA Lenders Handbook, Chapter 9(8)(c). Completed 10/14/2019

October 7, 2019

Document Updates and Changes

As a result of an ongoing review of our documents to ensure compliance with state and federal requirements, we have made the following changes:

RURALHOU/14179 – USDA updated form RD 3555-21 Request for Single Family Housing Loan Guarantee. Docu Prep updated our form to be compliant. Completed 10/04/2019.

IDIN1501/20634 – Indiana updated form INSOS/LBA Indiana Loan Broker Agreement. Docu Prep updated the form to be compliant. To be completed 10/09/2019.

The state of Virginia has relocated some of its real estate regulatory code from Title 55 to Title 55.1 of the Virginia Code. As a result of this change, citations have been updated on the following Virginia documents:

IDVASETT/10517 – Virginia Choice of Settlement Agent-Initial Disclosures.  Completed 10/07/2019

VAHELOC/26443 – Virginia HELOC Security Instrument. Completed 10/07/2019

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