Lightning Docs Update

We have issued an update to the system that modified the following:

ALTA Endorsement Update

• After the 2021 Policy changes, “-06” is no longer being used after endorsement numbers.
• We also added ALTA 14 as a standard endorsement for Lightning Docs users.

Selene ACH Form Update

• We have updated the ACH form that populates when Selene Finance is the loan servicer to match Selene’s updated form.

Florida Balloon Notifications

• We have updated the Florida Mortgage balloon disclosure that appears in the Florida Mortgage. There are two versions of the balloon disclosure that will appear at the top of the mortgage and in the state specific provisions (Non-Uniform Covenants), at the end of the Mortgage, in accordance with the following:
– Option 1 will appear for interest only or partially amortizing loans with a fixed rate.
– Option 2 will appear for interest only or partially amortizing loans with a variable rate.
Please note that for partially amortizing loans, you will be required to manually enter the anticipated balloon payment amount in both the notification below the title and in the disclosure in the state specific provisions (Non-Uniform Covenants) at the end of the mortgage.

New Coversheet for Washington Security Instrument

• In order to facilitate your loans secured by real property in Washington, we have added a cover sheet for the Deed of Trust and Assignment of Deed of Trust. Please note that there are two areas that will require entering the following additional information once the loan documents are produced in Word:

  1. Page number to identify where the full legal description can be found.
  2. The abbreviated legal description (we recommend obtaining this from title)