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September 2019 Edition


HUD Announces Policy Changes For Cash-Out Refinance Lending

In a recent press release, the U.S. Department of Housing and Urban Development (HUD) announced new agency efforts designed to reduce the risks associated with cash-out refinance lending. Learn More


Compliance Term of the Month

Loan Churning

The process whereby a lender solicits an existing borrower to refinance their current mortgage with little to no financial benefit to the borrower with a different or the same investor.  Churning involves repeatedly refinancing a loan with additional closing costs and fees on top of the original principal amount.  


Form Updates

DocMagic Update to Rate Lock Packages

Beginning August 15, 2019, Rate Lock Packages will return with a state-specific rate lock disclosure, if required.  Read More



Updates to DocMagic Interest Only Loan Plans

As part of our regular maintenance and review, DocMagic’s Compliance department has determined to make certain modifications to the existing DocMagic Interest Only loan plans. Read More



New/Revised Documents – August 2019

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

5 Roadblocks to Your Digital Implementation ...and How to Overcome Them

The webinar focuses on the critical details that will make all the difference in the short and long-run, outlining strategies that will directly impact the success or failure of your digital implementation process.

Join us Wednesday, September 18th at 10:00 AM PDT


System Updates