New York Consolidated Interest-Only Period Fixed/Adjusted Rate Note - 30 Day Average SOFR
NY3442CIO.NOT
New NY CEMA SOFR Note (Date of Release to Production: 10/01/20)
New York Consolidated Fixed/Adjusted Rate Note - 30 Day Average SOFR (Uniform Instrument)
NY3442CU.NOT
New NY CEMA SOFR Note (Date of Release to Production: 10/01/20)
New York Consolidated Fixed/Adjusted Rate Note - 30 Day Average SOFR
NY3442C.NOT
New NY CEMA SOFR Note (Date of Release to Production: 10/01/20)
New York Consolidated Adjusted Rate Note - 30 Day Average SOFR (Uniform Instrument)
NY3441CU.NOT
New NY CEMA SOFR Note (Date of Release to Production: 10/01/20)
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 October, 2020.
To view all New/Revised Documents, click here
New York Consolidated Adjusted Rate Note - 30 Day Average SOFR
NY3441C.NOT
New NY CEMA SOFR Note (Date of Release to Production: 10/01/20)
DocMagic is adding new generic SOFR interest only loan programs which will use the 30-day Average SOFR index:
Beginning September 3, 2020, DocMagic will remove two forms previously provided in Pre-Closing package when the property state is New Mexico:
***UPDATE***
Verbiage in optional paragraph has been updated as follows:
“I understand, acknowledge, and agree that the Lender and Other Loan Participants can obtain, use, and share personal tax return information, and, as applicable, business tax return information, from every business tax return for which my Lender has attained a form 4506.”
It may seem like the need for print fulfillment services is counterintuitive to digitizing the mortgage process, but the two things aren’t mutually exclusive.
There are several reasons why lenders going digital may still need some loan documents, such as initial disclosures, to be physically printed out and mailed to customers.
Compliance is Key
