Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

Updated Borrower/Lender Acknowledgment section. (Date of Release to Production: 12/12/19)

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As part of the Taxpayer First Act that was passed into law earlier this year on July 1, 2019, a lender who obtains a borrower’s tax transcript during the origination process must obtain the borrower’s consent to share that information with any other party, including an investor to whom the loan is sold.  The part of the law requiring the specific consent of the borrower to share their tax information, Section 2202 of the Act, becomes effective December 28, 2019.