MORTGAGE INDUSTRY BLOG

Read all the latest information about our solutions, compliance updates and company culture

Community State Bank now offering paperless eClosings via Total eClose

Posted by DocMagic on 11/23/2020

Community State Bank, which has seven locations across southeast Wisconsin, has implemented DocMagic’s full suite of eClosing solutions and is now offering their customers a 100% digital mortgage process—something that’s key in the middle of a pandemic.

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IRS releases new form 4506-C

Posted by Compliance Team on 11/16/2020

The Internal Revenue Service (IRS) recently released a new version of Form 4506, as Form 4506-C, IVES Request for Transcript of Tax Return (version September 2020). 

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Michigan Supreme Court ruling puts state's RIN closings at risk

Posted by Pauline Vu on 11/05/2020

When the pandemic hit in March, Michigan already had a law on the books that allowed remote online notarization (RON) closings. But the state took it a step further when Gov. Gretchen Whitmer (D) declared a state of emergency and issued a series of executive orders, including one allowing the use of remote ink-signed notarization (RIN), a lower-tech alternative to RON.

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Survey: Homebuyers adapt to eSignings, remote closings during pandemic

Posted by Pauline Vu on 10/29/2020

Homeowners have adapted well to eSignings and remote closings and are very satisfied with their overall closing experience, according to a new national survey of people who bought and refinanced homes during the COVID-19 pandemic.

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DocMagic’s CEO honored with Lending Luminary Award

Posted by DocMagic on 10/27/2020

DocMagic CEO and President Dominic Iannitti was named a Lending Luminary award winner by the PROGRESS in Lending Association. The honor, now in its 2nd annual year, was awarded to just 25 people across the mortgage industry, including bankers, lenders, servicers, technology executives, consultants, and more.

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Remote online notarization (RON) has several benefits beyond safety

Posted by Pauline Vu on 10/22/2020

Remote online notarization (RON) eClosings have been on the rise during the age of COVID-19, as they’re seen as the safest closing option during a time when social distancing is paramount.

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CFPB’s 5-year TRID assessment produces mixed results

Posted by Pauline Vu on 10/15/2020

Earlier this month the Consumer Financial Protection Bureau (CFPB) released a five-year lookback assessment of the TRID rule—and its findings contain mixed results.

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California enacts consumer financial protection law

Posted by Compliance Team on 10/07/2020

The California legislature recently enacted a new consumer protection law, called the Consumer Financial Protection Law (CFPL).

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DocMagic, VirPack integrate platforms

Posted by DocMagic on 10/01/2020

DocMagic has integrated with VirPack to facilitate the seamless exchange of loan files and docs for compliant eSigning through DocMagic’s eSign platform.

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The redesigned URLA will be required in a few months; are you ready?

Posted by Pauline Vu on 09/24/2020

Starting March 1, 2021, all lenders who intend to sell closed residential mortgage loans to Fannie Mae or Freddie Mac will be required to use the new Uniform Residential Loan Application (URLA), the standard form that borrowers use to apply for a mortgage loan.

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