We
have posted an automatic update with the latest IRS forms and
modified closing documents to comply with the SAFE Act.
IRS:
The
new 1099-S was published early this year, and it is included
in this update. Also included are copies of the latest W-9,
4506, and 4506-T forms.
SAFE
Act:
This
update contains new versions of all our notes and mortgages
to comply with SAFE Act requirements. As of January 10, 2014,
all notes and mortgages must list the origination company and
individual loan originator, along with their NMLSR ID numbers.
This information must appear at the end of the document, following
the signature block and any notary acknowledgement.
In
Standard Conveyancer, the fields for this information are found
on the Lender screen in the file. The NMLSR IDs for your lenders
should also be added to your lender database for future closings
(under the Info menu, click Lenders). The fields
for the origination company and ID number are labled "Originator"
and "License." The fields for the individual loan
originator (near the bottom of the screen) are labled "Mortgage
Originator" and "Lic."
Standard
Conveyancer users in Massachusetts are already using these fields
to enter the name and license number for mortgage brokers on
the first page of mortgages. The SAFE Act requires this information
for all lenders.
To
make sure you got the update, check that you have the 2014 1099-S,
and merge any mortgage or note (such as FNNote) and look for
the new fields at the end of the document. If you did not get
the update, please use
this link to e-mail us rather than call - that way we we
can check our update control database first without having to
keep you waiting on the telephone.
Please
call if you have any questions about how to use these fields.
