In May 2018, the U.S. Congress passed the Economic Growth, Regulatory Relief, and Consumer Protection Act ("EGRRCPA") that included various changes... Read More
Compliance Term of the Month
An “Application”, for federal disclosure purposes, means when the lender has received information from the borrower constituting: the borrower’s name, an identified property address, a desired loan amount, the borrower’s income, expected value of the property and a means for obtaining credit information such as the borrower’s social security number.
On October 21, 2019, the United States Department of Agriculture ("USDA"), Rural Development (the “Agency”), announced that funding for the Single-Family Housing Guarantee Loan Program is available... Read More
On October 23, 2019, Fannie Mae and Freddie Mac (the “GSEs”) announced the publication of the updated redesigned Uniform Residential Loan Application (“URLA”) (Fannie Mae Form 1003 / Freddie Mac Form 65). 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. Read More
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