DocMagic Compliance Alert

With one month of living with the new RESPA 2010 rule under our belts, many of the issues that seemed so daunting just a short time ago are gradually being resolved. Undoubtedly, many of the remaining issues will be resolved in the upcoming days and weeks as the industry becomes more familiar with the effects of the new RESPA 2010 rule. In response to recent clarifications from the Housing and Urban Development (HUD) (including, without limitation, HUD’s latest RESPA FAQs, dated January 30, 2009 and direct conversations with HUD representatives), feedback from our LOS partners and DocMagic customers who use LOS’s, and interactions with compliance professionals in the residential mortgage lending industry, DocMagic has enhanced its software accordingly as specifically described here.

Should you have any questions about this change, please contact us at 800-649-1362.

Sincerely,
Your DocMagic Team

Some lawmakers are suspending their townhall meetings, instead holding smaller sessions, telephone briefings and inviting constituents to one-on-one office visits. All of this means that the best method of relaying your concerns about the proposed Consumer Financial Protection Agency (CFPA) is through one-on-one meetings with Representatives or their staff in their district offices. Another novel way of expressing your concerns is to invite them to come to your office and sit in on a closing to see how the process works.