As previously announced, FNMA Ann. SEL-2017-09 announced updates to FNMA Form 3044 “to reflect recent changes to state law that affect the date of foreclosure sales,”[1] with optional use effective immediately and mandatory use beginning with notes having dates of April 1, 2018 or later.
Pursuant to this change, we have updated our version of Form 3044 (“TX Deed of Trust”; Cx352) accordingly. We have also updated our conventional “TX Deed of Trust Second” (Cx510) similarly, as well as our “FHA TX Deed of Trust” (Cx19401) in accordance with FHA’s “Instructions for Model Mortgages (5/15)” (available at: https://www.hud.gov/program_offices/housing/sfh/model_documents).
Notable changes are in the paragraphs titled “Acceleration” and include referencing the “Lender’s designee” (rather than “Lender”) and deleting the clause specifying the posting and filing of a notice of sale at least 21 days prior to sale (now the clause will simply specify that the notice will be posted and filed as provided by applicable law).
These changes will take effect on December 23, 2017. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
DR 250553
UPDATE: The footer date of the “FHA TX Deed of Trust” (Cx19401) was inadvertently left as “09/15”. This revision date will be updated to “12/17” to reflect when the text in paragraph “22. Acceleration; Remedies.” was actually modified.
This change will take effect immediately.
DR 259017
[1] FNMA does not elaborate on what these laws are, but we presume that they include 2017 Tex. Sess. Law Serv. ch. 133 (H.B. 1128) and ch. 1012 (H.B. 1470)