DocMagic has updated the FHA Amendatory Clause (AC.FHA) to exclude it from printing in 203K loans per the HUD Handbook 4000.1,II.A.1.a

Arizona Application Disclosure print logic has been updated to print for both Broker and Lender loans.  For Brokered loans, the form will print if the loan amount is under $200,000.  Lender loans will print on all transactions regardless of loan amount.

Update to selection logic for the Wisonsin Mortgage Broker Agreement.  A Non-TRID version is available and will print for Non-TRID transactions.

Various form updates to the Loan Estimate and Closing Disclosure to support TRID 2.0 functionality.  Funcationality is triggered by the application date after October 1, 2018 or by passing an indicator to trigger TRID 2.0 functionality.  

DocMagic is updating the configuration option used for selecting the FNMA rules for MI dropoff for 2-4 unit primary residences and 1-4 unit investment properties.   For these properties, MI is eligible to be terminated on the first day of the month after the date that is the mid-point of the original amortization period.  DocMagic added this configuration option late in 2017 but has now updated the calculation to consider additional property types: Condo, Co-operative, Manufactured Housing, Manufactured Housing/Condo, Manufactured Housing/PUD, PUD.

DocMagic will be adding a new audit available to all clients that will return on a file when a user attempts to collect more than 12-months of a single escrow item in the initial escrow deposit.  If more than 12-months of collections are detected, the following audit message will appear: " Initial Escrow Deposit should not collect more than 12 months of escrow payments."

DocMagic will be updating the severity of its audit that compares the selected rate type (ARM/Fixed) in the file, against the default rate type of the plan that has been selected.  If the rate type selected does not match the default rate type of the plan, DocMagic's audit system will now trigger a fatal audit requiring the user to change the rate type in order to proceed.

DocMagic is updating the selection logic of the Missouri Rate-Lock Agreement (MOMRLA.MSC) to return in redisclosure packages when the rate is locked. 

DocMagic is adding an audit to test the permissible fees limitations in the state of North Carolina.  Under North Carolina law, additional charges and fees payable to the lender maybe not, in the aggregate, exceed 1/4 of 1% of the principal balance of the loan, or $150, whichever is greater.

DocMagic is adding the Flood Hazard Notice (FHN.MSC) to its main build.  The form has previously been selected from specific loan programs, but will now be included in closing packages on all loans, and available to all clients.