CFPB Annual Threshold Adjustments for Regulation Z
The Consumer Financial Protection Bureau (“CFPB”) is required to calculate annually the dollar amounts for several provisions in Regulation Z. The CFPB recently issued a final rule amending the dollar amount thresholds...Learn More
On October 5, 2021, the Department of Housing and Urban Development (“HUD”) published an advance notice of proposed rulemaking (“ANPR”) in the Federal Register titled "Adjustable Rate Mortgages: Transitioning from LIBOR to Alternate Indices." Read More
The Federal Reserve Board, CFPB, FDIC, NCUA, OCC and state bank and credit union regulators (“the agencies”) issued a joint statement on October 20, 2021 on managing the LIBOR transition beyond 2021. Read More
The Federal Housing Finance Agency ("FHFA") recently announced that Fannie Mae and Freddie Mac (the "GSEs") will be updating their selling guides to allow for the permanent use of desktop appraisals...Read More
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Illinois Land Trust
A specific type of trust where title ownership for a property is transferred to a land trust and administered by an institutional trustee. The beneficiary (borrower) has the benefits of ownership by living in and enjoying the property, while maintaining anonymity in the land title records.
The U.S. Department of Agriculture ("USDA") announced on October 14, 2021 that funding for the Rural Development's Single Family Guaranteed Loan Program is now available for Fiscal Year 2022. Read More
The Internal Revenue Service (“IRS”) has begun the process of updating the Income Verification Express Service (“IVES”) to a more modern system. Read More
In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Read More
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