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August 2022 Edition


DocMagic’s Release of New Uniform Instruments

As previously announced, DocMagic released the new versions of all Conventional Uniform Instruments published by Fannie Mae and Freddie Mac on August 12, 2022.  These revisions are dated with a 07/2021 revision date.

As announced last month, DocMagic will also be making updates to our FHA and VA notes and security instruments as a result of this change by the GSEs. Learn More


Compliance Term of the Month

Community Land Trust

A form of property ownership that serves to preserve affordable housing in a community by purchasing homes and then leasing the land for low or middle income housing. 


Form Updates

Updates to eSign/Fulfillment for Adverse Action Packages

DocMagic is making an update to the consent requirements for the Adverse Action Package.  Currently, DocMagic has an account-level configuration option for who is required to consent before a package is considered complete in eSign, or before it will trigger print fulfillment of the package. Read More



Updates to Automatically Provide for eSigning by Loan Originator and Settlement Agent

DocMagic is making a configuration update to automatically allow for the Loan Originator and Settlement Agent to be able to eSign documents.  Currently, this functionality needs to be configured by the customer to provide for eSigning by these persons. Read More



Supplemental Consumer Information Form and Translations

On May 3, 2022, the Federal Housing Finance Agency (“FHFA”) announced that the Supplemental Consumer Information Form ("SCIF") will once again be required for loans sold to Fannie Mae and Freddie Mac (the "GSEs") starting with applications dated on or after March 1, 2023. Read More



USDA Announces Form Updates Following Final Rule

On August 30, 2022, the U.S. Department of Agriculture, Rural Housing Service ("USDA") announced changes to four forms that have been updated following the implementation of a final rule which mandated the use of the RHS Guaranteed Underwriting System ("GUS") for all supported loan originations and the Lender Loan Closing System ("LLC") for loan closings. Read More



New/Revised Documents - August 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




Upcoming Event

DocMagic Webinar: Everybody in the Chain Loves eNotes


System Updates