New Audit for Business Purpose

Audit Type
Audit Update

A new audit was created for use in our newer generic plan of DSI_DSCRF, DSCR (DEBT SERVICE COVERAGE RATIO) FIXED RATE PLAN providing a warning stating that the loan must be marked as Business Purpose/Business Use. Message: The loan must be marked as business purpose for use with this loan plan.

New Form: Maryland Shared Appreciation Disclosure

Audit Type
Form Update

A new form, Maryland Shared Appreciation Disclosure (MDSAD.MSC) was created for Loan Originators to complete. We cannot currently make this form fillable due to there being no signature placement by the Loan Originator or person completing the form. This is for “Shared Appreciation” loans where the lender will take a share in the appreciation of the market value of the property. This form will be added to the state build and updated once we identify more data points for the form to be completed.

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