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August 2024 Edition

 
 
 

CFPB Turns Focus onto Contract-for-Deed Transactions, Highlighting TILA Coverage

In August, the CFPB Learn More

 
 
 
 

Compliance Term of the Month

Abatement

A reduction in assessed annual property taxes as a result of lowered property value after reassessment by a taxing authority.

 
 

Form Updates

Removal of Idaho Licensee Information Disclosure

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Under Executive Order 2020-01, the Idaho Department of Finance (the “Department”) is required to conduct a cost and benefit review of existing rules every five years with the purpose of r

 

Complimentary

Reconsideration of Value Disclosure Update

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On August 15, 2024, DocMagic began providing a new Reconsideration of Value Disclosure (Form ID: ROVD.MSC) in application, appraisal, and initial disclosure packages for all FHA-guarantee

 

Complimentary

GSE Updates to Connecticut and Kentucky Security Instruments

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Fannie Mae and Freddie Mac (the “GSEs”) recently announced revisions to the security instrumen

 

Complimentary

New/Revised Documents - August 2024

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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.

 

Complimentary

 

Upcoming Event

Texas MBA Educational Webinar Series: Digital Closing Table: Exploring eClose, eNotes, and RON in Mortgage Lending

On September 19, 2024, DocMagic will be participating in a moderated panel discussion exploring the expanding landscape of digital closings in the mortgage lending industry.

 
 
 

System Updates

 
month_year

SOLUTIONS THAT WORK. TECHNOLOGY TO STAY COMPLIANT.