As a result of the repeal of Massachusetts General Laws, Chapter 184, Sections 17C and 17D, which becomes effective on July 1, 2006, a number of disclosures will no longer be required for those lenders and brokers originating loans secured by property located in the state of Massachusetts. Those disclosures are as follows:

1. Massachusetts Appraisal Notice
2. Uniform Mortgage Loan Cost Worksheet
3. Uniform Model Disclosure Statement, designed to aid borrowers in understanding the mortgage application and approval process
4. Notice of Substantially Complete Application
5. Notice of Incomplete Application

As a result of an amendment to Massachusetts General Laws, Chapter 184, Section 17B, effective July 1, 2006, DocMagic's Residential Loan Application will be modified to delete the following:

(a) The approximate expiration date of the note;

(b) The rate of interest charged; and

(c) The statement that as of the expiration date of said note, the lender may demand payment of said note, may rewrite the note by agreement at a greater or lesser rate of interest, or may, by agreement, allow payments to be made on said note at the same, or a lesser or a greater rate of interest.

If you have any questions regarding these Massachusetts disclosures, please contact the Compliance Department at (800) 649-1362 or email compliance@docmagic.com.