Updated borrower information and signatures to one copy per borrower. (Date of Release to Production: 12/07/23)

Updated recording requirement at top of page 1 to match that of TX3044.DOT. (Date of Release to Production: 12/07/23)

In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Here is the list of forms created or modified in December 2023.

To view all New/Revised Documents, click here.

Updated recording requirement at top of page 1 to match that of TX3044.DOT. (Date of Release to Production: 12/07/23)

The North Carolina Secretary of State has issued the second (“Phase II”) of three planned sets of rulemaking packages that are intended to implement and interpret the North Carolina Remote Electronic Notarization Act (“RENA”), which was adopted on July 8, 2022, and modified by Senate Bill 552 on June 23, 2023 and Senate Bill 615 on September 28, 2023. Senate Bill 552 extended the emergency use of video notarizations and video witnessing to June 30. 2024 and Senate Bill 615 added clarifying language to notary journal sections.

Updated "Trustee" definition to match that of CO3006.DOT. (Date of Release to Production: 11/16/23)

Updated "Trustee" definition to match that of CO3006.DOT. (Date of Release to Production: 11/16/23)

On December 14, 2023, DocMagic will update our standard underwriting package and Forms List to replace default selection of the Uniform Underwriting and Transmittal Summary (Fannie Mae Form 1008 /Freddie Mac Form 1077) dated 06/09 with the 12/18 version.

The Uniform Underwriting and Transmittal Summary 06/09 (Form ID: 1008.MSC-2-3-1) is currently provided by default when MISMO v2 data is provided. The updated 12/18 version (Form ID: UUATS.MSC) is populated using worksheet data.  

The 12/18 version includes the following modifications:

DocMagic is adding a new form that will be included in standard packages for West Virginia, in certain situations.  West Virginia requires that a lender document their ability-to-repay analysis that confirms the borrower does have an ability to repay, when the calculated Debt-to-Income (“DTI”) ratio is over 50%.  The assessment must consider the borrower’s ability to repay while considering all current debt obligations, the term of the loan, and the particular circumstances of the borrower(s), including both their current asset and debt obligations as wel

DocMagic is updating our Loan Detail Report to include enhanced information as calculated by DocMagic for compliance with TILA-RESPA Integrated Disclosure (“TRID”) Rules.  When TRID was implemented, DocMagic added a new section to the Loan Detail Report (“LDR”) entitled “TILA-RESPA Integrated Disclosure Summary,” which included four new disclosures that were required by the TRID Rule: Total Paid in 5 Years, Total Interest Percentage, Total Loan Costs, and Total of Payments.  DocMagic is