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February 2021 Edition


CFPB Issues Statement on Financial Institutions Serving LEP Consumers

On January 13, 2021,  the Consumer Financial Protection Bureau (CFPB) issued a "Statement Regarding the Provisions of Financial Products and Services to Consumers with Limited English Proficiency (LEP)."  Learn More


Compliance Term of the Month

Digital Certificate

Identifies the identity of a notary affixing an electronic signature and seal, and makes a document “tamper-evident.”


Form Updates

Social Security Administration Releases Revised Form SSA-89

The Social Security Administration (SSA) has published a revised version of Form SSA-89 (12-2020), Authorization for the Social Security Administration (SSA) to Release Social Security Number (SSN) Verification. Read More



New USDA Guarantee Underwriting System and Handbook 1-3555 Update

As previously announced, the U.S. Department of Agriculture - Rural Development (USDA) will be implementing a new Guaranteed Underwriting System (new GUS) on March 1, 2021.  Read More



New FHA Form: Notice to Prospective Buyers of Properties Located in Runway Clear Zones

Recent updates to FHA Single-Family Housing Policy Handbook 4000.1, effective February 16, 2021, include a revision to previous requirements regarding existing properties located in Runway Clear Zones...Read More



New/Revised Documents - January 2021

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

Paradigm Shift: 4 Key Mortgage Industry Changes Over the Last Year

What a difference a year makes! A year ago, many lenders in the mortgage industry were still inching their way towards an electronic closing.


System Updates