Update to Notary Fee Charge Code
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The Notary Fee (NF) charge code is DocMagic's system has been updated to be treated as a finance charge.
The Notary Fee (NF) charge code is DocMagic's system has been updated to be treated as a finance charge.
DocMagic is removing the illinois Transfer of Servicing (ILTS.MSC) form from the state build and Illinois Disclosure Matrix pursuant to changes in Adopted Rules (2017 Illinois Regulation Text 457955) that amended Ill. Admin. Code tit. 38 § 1050.820(c).
Hotfix for Illinois Private Mortgage Insurance Disclosure Form (ILPMI.MSC) to prevent form from inadvertently printing in files with no PMI. Update includes an update to the selection logic to more accurately detect PMI in a file and select accordingly.
Governing law requires the South Carolina Application Notice (SCAN.MSC) be given "at the time of application for a motgage loan." DocMagic has previously offered this notice in both the Initial and Closing packages, but is now adding it to the Application package for all clients immediately.
DocMagic is introducing a Massachusetts State Specific Compliance Agreement (MACOMP.MSC) similar to its standard Compliance Agreement form (COMP.LSR). The updated form has state specific notary information.
DocMagic is providing an update to its Qualified Mortgage Determination to exclude VA loans from a points and fees test (unless VA IRRRL). This update is in response to the recent release of DocMagic's VA QM enhancements that separately audit VA QM loans. This update is an enhancement to it existing audits to provide its customers with more accurate reporting.
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Update to form selection logic in the DocMagic defualt 15 due in 30 plan to provide more accurate selection for subordinate lien riders.
Ill. Admin. Code tit. 38 § 1050.820(c)