System Updates

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

1. We have added a Borrower Certification and Authorization Form for your use upon request. The borrower certifies multiple items concerning the origination of the loan and lender’s ability to sell the loan. In addition, the borrower authorizes lender to share certain loan related information, as well as methods of contacting borrower concerning the loan. Click here to see a sample.

2. For those who use our Modification and Extension module, we updated the treatment of deferred fees in the Modification to clarify when they are due.

3. For all Florida Loans, we added a Florida Foreign Principals Affidavit and Notice to comply with recent Florida law that restricts the sale of real property to certain foreign principals. This notice requires the borrower to affirm that they are not in violation of this new law. Click here to see a sample.

4. We have updated the language in the closing instructions to request the 2021 ALTA expanded coverage policy, or alternatively the 2006 ALTA extended policy if the 2021 is not available.

5. Updated the Certificate of Non-Owner Occupancy to include a signature block for non-borrowing parties who own the real estate which is pledge as collateral for the loan.