Both the Federal Housing Finance Agency (“FHFA”) and the Fair Housing Administration (“FHA”) recently announced the availability to lenders to use the new Vantage Score credit scoring model for loans sold to Fannie Mae and Freddie Mac and insured by FHA.  The update also includes notes of progress on implementing the new FICO 10T but note that it is not yet available for lenders to use.   

Heading to the MBA Legal Issues & Regulatory Compliance Conference May 4-7 in Miami?

In industry discussions, mortgage compliance is often treated as though it can be standardized across lenders. Model policies, regulatory checklists and compliance platforms are often presented as though there is a single blueprint for how mortgage compliance should work in practice.

But anyone who has worked inside more than one lending institution knows the reality is far more complex.

DocMagic has released additional versions of the Residential Mortgage Credit Score Disclosure Exception Notice, used for satisfying the Fair Credit Reporting Act requirement that users of consumer reports disclose information about the report obtained to the consumer who is the subject of the report.  15 U.S.C.

New Vantage Credit Score from TransUnion. (Date of Release to Production: 04/30/26)

New Vantage Credit Score from Equifax. (Date of Release to Production: 04/30/26)

New Vantage Credit Score from Experian. (Date of Release to Production: 04/30/26)

DocMagic is pleased to announce that we are updating our dynamic notary certificates to reflect state requirements for signers in a representative capacity, as applicable for your loan transaction.  These changes are necessary to properly reflect the limited signing capacity for the signer, as a representative only for another person or entity.  For loans that are made to individual consumers, there will be no change to the notary certificate behavior, except in the case of use of an Attorney-in-fact under a Power of Attorney. 

Virginia and California recently passed laws placing new requirements on lenders to allow certain assumptions on conventional loans.  Last October, DocMagic discussed the new law in Maryland that requires lenders to allow for assumption by an existing borrower in connection with a decree of divorce, allowing for assumptions of existing loans between married persons as part of a divorce.   You can read about those updates here and

 – inter vivos meaning “among the living” in Latin, these trusts are established during the creator’s lifetime to hold assets for the creator’s benefit during their life and provide for distribution after their death.   Also commonly called “revocable trust”, “living trust”, or even “revocable living trust.”