Compliance Newsletter - September 2022

DocMagic

Temporary Buydown Loans

Temporary Buydown Loans Learn More

Legal and Regulatory Updates

General QM Rule Mandatory Compliance Date

In December 2020, the CFPB published the final rule amending the General QM definition as a result of tRead More

Complimentary

VA Announces New Requirements for Full File Loan Reviews (FFLR)

The Department of Veterans Affairs (“VA”) recently published Circular 26-22-16Read More

Complimentary

Delaware Enacts Revised Uniform Law on Notarial Acts

Delaware has passed Senate Bill 262Read More

Complimentary

Compliance Term of the Month

Buydown Subsidy

The amount paid at closing to offset the reduced periodic payment while a temporary buydown is in effect.

Form Updates

IRS Draft of Proposed Form 4506-C

On May 6, 2022, the Internal Revenue Service (“IRS”) released a draft of a revised Form 4506-C. Form 4506-C allows cleared and vetted Income Verification Express SRead More

Complimentary

GSE Updates to New Uniform Instruments

Since the DocMagic release of new versions of conventional uniform instruments on August 12, 2022, Fannie Mae and Freddie Mac (“GSEs”) have Read More

Complimentary

Minnesota Interest Rate or Discount Point Agreement Update

DocMagic is making updates to the Minnesota Interest Rate or Discount Point Agreement (Form ID: MNIR.MSC) by adding detailed language to the Interest Rate, Discount PoinRead More

Complimentary

New/Revised Documents - September 2022

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

Complimentary

Upcoming Event

MBA Annual 2022: We can't wait to see you in Nashville!

If you're ready to stay competitive in today's mortgage market you need solutions like eNotes, eNotarization, and our award-winning eClosing and eVault technologies. To find o