House Financial Services Committee Approves Bill to Reform CFPB
The House Financial Services Committee recently approved a bill that would reform various aspects of the CFPB, titled House Resolution 10184 (“HR 10184”). You may recall in August, DocMagic published an article discussing the House Financial Services Committee requesting comments from the general public on a proposed bill that would reform the CFPB. Learn More
In late April of this year, the Federal Housing Finance Agency (“FHFA”) suddenly announced the availability to lenders of selling new loans using alternative scoring models to the GSEs Fannie Mae and Freddie Mac. Read More
As published in our newsletter in May, Colorado recently passed a revision to its law governing the use of artificial intelligence in automated decision models. One key part of that law was a requirement for the attorney general to publish new rules implementing the law’s provisions by the end of this year, for its effective date on January 1, 2027. Read More
The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) in September published a Final Rule to define what is an “unsafe or unsound practice.” The Final Rule is effective November 2, 2026. Read More
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Compliance Term of the Month
Assumed vs. Taken Subject To
An assumed loan releases the original borrower from liability on the loan and transfers it to the new purchaser. A property taken subject to a loan does not release the original borrower from liability on the loan though the new buyer assumes responsibility for the payments.
The CFPB in August 2026 published a revised “Your Home Loan Toolkit” booklet, with a July 2026 revision date. The revised booklet was published to the CFPB’s public, consumer-facing website. Read More
As in previous years, the United States Department of Agriculture (“USDA”) has posted a bulletin announcing that under the Single-Family Housing Guaranteed Loan Program, there will be a short period of time during the new fiscal year – approximately one week – when funding is not available. Read More
To support clients’ expanding entity-lending needs, DocMagic is enhancing its document-generation capabilities for loans involving entities. The significant regulation surrounding residential consumer lending eliminates some options for how a residential lender may structure a loan transaction. Read More
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 September 2026.To view all New/Revised Documents, click here. Read More
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Join us at the MBA Annual Convention and Expo!
Join us at the MBA Annual Convention and Expo in Chicago on October 11-14 to explore how AI-powered innovation and end-to-end digital mortgage solutions can help your organization improve ef
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