As part of DocuTech’s routine review and maintenance of state law mortgage document requirements, two new standard state Initial Disclosures will print effective 4/29/11.
UT Loan Notice cx15693
Informs borrowers that their mortgage or the servicing of their mortgage many be sold or assigned, per Utah Code Ann. §70D-2-302. All three boxes are checked by default.
IL Float/Rate-Lock Fee Agreement cx14101
Triggers information regarding either floating or locking the interest rate, per Illinois Admin. Code tit. 38, §1050.1335(a)(2). The Lock version is triggered when there is a Lock Expiration Date entered on the loan.