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June 2021 Edition


GSE Guidance for Revised General QM Definition

Fannie Mae and Freddie Mac (FNMA or FHLMC, respectively, or the "GSEs" collectively) recently provided additional guidance on their changes in response to the revised General QM defintion, as well as their Preferred Stock Purchase Agreement ("PSPA") with the Federal Housing Finance Agency ("FHFA").  Learn More


Compliance Term of the Month

Multi-Factor Authentication (eSign)

The use of multiple pieces of personally-related information to grant system access to a user for purposes of attribution of their activities to an individual.


Form Updates

Texas Enacts Wrap Mortgage Loan Regulations

On May 24, 2021, Texas Senate Bill (SB) 43 was signed into law. Read More



Fannie Mae Updates Instructions to Virginia Deed of Trust Form 3047

Fannie Mae recently announced a change to the instructions for the Virginia Deed of Trust Form 3047 that includes the deletion of authorized change #13 and an update to language permitted for eligible refinance transactions in authorized change #15.  Read More



GSEs Provide Further Information on Discontinuing Purchase of CMT-based Loans

Under Federal Housing Finance Agency (“FHFA”) guidance, Fannie Mae and Freddie Mac (the “GSEs”) have provided further clarification regarding the discontinuance of the purchase of Adjustable-Rate Mortgage ("ARM") loans with a Constant Maturity Treasury ("CMT") Index. Read More



New/Revised Documents - May 2021

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. Read More




Upcoming Event

Hybrid, eNote, and RON Implementation

When it comes to perfecting mortgage closings, it's best to learn from those with real-world experience.


System Updates