Tuesday, July 1, 2014

Compliance Updates Made to idsDoc Last Week

1. IDS Compliance updated the TX General Warranty Deed's Notice of Confidentiality Rights section in accordance with Tex. Prop. Code § 11.008 Personal Information In Real Property Records, which states that this notice must be in 12-point boldfaced or 12-point uppercase letters.

2. IDS Compliance has made several State Housing changes, including:

a. Created WA WSHFE Loan Documents:
        i.   House Key Plus ARCH TIL
        ii.  Home Choice TIL
        iii. Tacoma Deferred DPA Deed of Trust

b. Updated WSHFE Loan Documents:
        i.   Home Advantage 0% 2nd Deed of Trust to 5/1/2014 standard version
        ii.  House Key Plus CLT Deed of Trust to 5/1/2014 standard version
        iii. 3% Deed of Trust to the 5/1/2014 standard version

c. Added the following WSHFE Loan Programs:
        i.   2nd Mortgage Loan HOUSE KEY Veterans
        ii.   2nd Mortgage Loan HOUSE KEY Schools
        iii.  2nd Mortgage Loan HOUSE KEY PLUS CLT
        iv.  2nd Mortgage Loan HOUSE KEY PLUS ARCH

3. IDS Compliance has begun a project to add General Warranty Deeds for all 50 states. This, unfortunately, is a slow process as our compliance team is reviewing the law behind each state's Warranty Deed. It is; however, noteworthy.