Updated to 6/19 version.  (Date of Release to Production: 06/24/19)

New LIBOR Disclosure. (Date of Release to Production: 06/24/19)

On May 31, 2019, the CFPB updated its TILA-RESPA Integrated Disclosure (TRID) FAQs related to generating the Loan Estimate and Closing Disclosure for construction loans.   

The first FAQ restates that a construction or construction-permanent loan will generally be covered by TRID if the loan:

On June 12, 2019, the U.S. Department of Agriculture-Rural Development Agency (RD) announced the implementation of a new guarantee underwriting user fee (also known as a “technology fee”) from lenders for each closed loan submitted via the Guaranteed Underwriting System (GUS). 

DocMagic is adding Illinois Rate and Points Lock/Float Agreement to Rate Lock Packages (Date of Release to Production: 06/27/19)

Updated to most recent website version.  (Date of Release to production: 06/27/19)

Update to disclose the cancellation and termination dates according to the Homeowners Protection Act for loans which charge a Single Premium for mortgage insurance at closing and do not charge monthly mortgage insurance. 

Updated legal reference in first paragraph on page 1.  (Date of Release to Production: 06/20/19)

On June 12, 2019, Fannie Mae and Freddie Mac (GSEs) announced, at the direction of the Federal Housing Finance Agency

Updated legal reference in first paragraph on page 1.  (Date of Release to Production: 06/20/19)