Updated: November 5, 2008 (Revisions are highlighted in yellow)

Beginning November 3, 2008, DocMagic users will begin to see the standard 1-4 Family Rider (US3170.RID) in FHA closing packages whenever the property securing the FHA loan is owner-occupied, not a second home, and the property type is a 1-4 unit property or in rare instances permitted by HUD, such as for the purchase of HUD real-estate owned (REO) property, the property type is investment property (i.e., non-owner-occupied and not a second home).  Note that the FHA-required non-occupancy rider (NOOR.LSR) and the Borrower's Contract with Respect to Hotel and Transient Use of Property, Form HUD-92561 (92561.HUD), already appear in these packages.  Although HUD does not require the 1-4 Family Rider in FHA loan packages, some investors do require it.  Therefore, DocMagic, Inc.'s Compliance Department has decided to add the 1-4 Family Rider to enhance the salability of customers' loans.  Customers wanting the 1-4 Family Rider deleted from their FHA closing loan packages must contact DocMagic, Inc.'s Customer Service Department, at (800) 649-1362.