On May 3, 2022, the Federal Housing Finance Agency (“FHFA”) announced that the Supplemental Consumer Information Form (“SCIF”) will once again be required for loans sold to Fannie Mae and Freddie Mac (the “GSEs”) starting with applications dated on or after March 1, 2023.  

DocMagic is making a configuration update to automatically allow for the Loan Originator and Settlement Agent to be able to eSign documents.  

As previously announced, DocMagic released the new versions of all Conventional Uniform Instruments published by Fannie Mae and Freddie Mac on August 12, 2022.  These revisions are dated with a 07/2021 revision date.  This update included fixed-rate notes, SOFR adjustable-rate notes, riders, security instruments and special purpose documents. 

The Consumer Financial Protection Bureau (“CFPB”) published Circular 2022-04 on August 11, 2022 which confirmed that financial institutions may violate the prohibition on unfair acts or practices under the Consumer Financial Protection Act (“CFPA”) by having insufficient data protection or information security.

On August 30, 2022, the U.S.

The Federal Housing Administration (“FHA”) recently published Mortgagee Letter 2022-14, Unique Entity Identifier for FHA-Approved Lenders, Mortgagees, and Institutions Seeking FHA Approval, to announce the requirement that entities in business with or seeking to do business with the FHA have an active Unique Entity Identifier (“UEI”).   The UEI is an alpha-numeric identifier used by federal government agencies to m

The New York Department of Financial Services (“NYDFS”) recently proposed draft amendments to its cybersecurity regulations that would expand the requirements of covered entities in relation to cybersecurity events.  The proposals include a tightening of some existing requirements and additional duties on top of those, a new class of company to which even further requirements would apply, and the amendments also include three changes related to ransomware attacks: inclusion of a ransomware attack as a cybersecurity event, requiring notice to the NYDFS within 24 hours

A form of property ownership that serves to preserve affordable housing in a community by purchasing homes and then leasing the land for low or middle income housing. 

New Note. (Date of Release to Production: 08/30/22)

New Note. (Date of Release to Production: 08/30/22)