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November 2019 Edition


CFPB Issues Final Rule Amending HMDA

The Consumer Financial Protection Bureau ("CFPB") recently issued a final rule which amends Regulation C, 12 CFR part 1003... Learn 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.


Form Updates

USDA 2020 SFH Guaranteed Funds Available

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



GSEs Announce Publication of Update to Redesigned URLA

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



Revised Uniform Underwriting and Transmittal Summary Available for Testing

The revised Uniform Underwriting and Transmittal Summary is now available for testing in our production or stage environments. Read More



New/Revised Documents – October 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





DocMagic's eClosing Solution is #1 in Overall Satisfaction

Total eClose is the eClosing leader in market share, is ranked as the number one eClosing solution in overall satisfaction and earned the highest Lender Loyalty Score® out of all other eClosing providers.

-STRATMOR Group - 2019 Technology Insight Study


System Updates