Due to client feedback, Docutech will be making changes to our “Important Notice to Homebuyers” (Cx40) for Section 184 Loans. HUD Form 50124 (Section 184 Homebuyer Notice Form) is essentially the same as HUD form 92900-B (our Important Notice to Homebuyers, Cx40), with the exception that Form 50124 does not contain an explanation of mortgage insurance. We are modifying Cx40 to print HUD Form 50124 instead of HUD form 92900-B when document trigger “Is section 184” (Field 32411) = Yes.
Since HUD Form 50124 does not contain an explanation of the HUD MIP calculation and cutoff required for Section 184 loans, we will continue to print our Section 184 Supplemental Notice (Cx19126), which prints with Cx40 when document trigger “Is section 184” (Field 32411) = Yes. Cx19126 has also been modified to replace the reference to HUD form 92900-B with an appropriate reference to HUD Form 50124.
This change will be effective on November 17, 2016. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
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