The Mortgage Bankers Association (MBA) has created a sample disclosure for lenders to share with consumers applying for an adjustable-rate mortgage. The disclosure informs consumers about the possible discontinuation of the London Interbank Offered Rate (LIBOR) which may result in a change to their monthly payment if their loan is tied to a new published index.

DocMagic is adding Illinois Rate and Points Lock/Float Agreement to Rate Lock Packages. (Date of Release to Production: 06/27/2019)

DocMagic has added form DC Homestead Deduction and Senior Citizen/Disabled Property Tax Relief Application (DCHD.MSC) to Closing Packages and Forms List for all transactions involving a primary residence. 

Updated to 6/19 version.  (Date of Release to Production: 07/03/19)

New LIBOR Disclosure. (Date of Release to Production: 06/24/19)

DocMagic is adding Illinois Rate and Points Lock/Float Agreement to Rate Lock Packages (Date of Release to Production: 06/27/19)

Update to disclose the cancellation and termination dates according to the Homeowners Protection Act for loans which charge a Single Premium for mortgage insurance at closing and do not charge monthly mortgage insurance. 

On June 12, 2019, Fannie Mae and Freddie Mac (GSEs) announced, at the direction of the Federal Housing Finance Agency

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 June, 2019.

To view all New/Revised Documents, click here.

Updated to most recent website version. (Date of Release to Production: 05/30/19)