Colorado Emergency Prepayment Penalty Rule
The Colorado Division of Real Estate has issued Emergency Rule 4CCR 725-3 restricing the use of prepayment penalties. The new rule prohibits prepayment penalties that extend past the adjustment date of any teaser rate, payment rate or interest rate included in a mortgage loan. DocuTech is in the process of adding limiting language to all prepayment penalty documents that will print for the state of Colorado. The revisions will be completed on December 22, 2007. DocuTech is also in the process of determining whether data integrity checks can be used to assist our customers in maintaining compliance with the new rule.
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Mortgage Compliance Updates - Mortgage Loan Docs
Mortgage Document Updates - July 2008 The New HOEPA Rule - 2008 Housing and Economic Recovery Act - 2008 Mortgage Document Updates - June 2008 Rebuild After National Mortgage Crisis New Mortgage Legislation Effective July Courts Side With Borrowers Over Lenders Kentucky Emergency Rule (HB 552) Prepays FHA Mortgage Insurance Premium Calculations Mortgage Document Updates - May 2008 Kentucky Emergency Rule (HB 552) Home Foreclosure Blocked Due to Predatory Lending Violations HUD Proposes RESPA Reform 2008 California RE 885 Disclosure Mortgage Document Updates - March 2008 Massachusetts Borrower Counseling Disclosure Proposed Regulation-Z Changes Mortgage Document Updates - February 2008 DC Adds New Disclosure For Non-Conventional Loans Conforming Loan Limits Increased Mortgage Document Updates - January 2008 Countrywide Interest Credit Clarification Maine Net Tangible Benefit Disclosure Up New Massachusetts Regulations Take Effect Maine Requires Net Tangible Benefit Form Colorado Emergency Prepay Rule MERS Requires Street Address on NY Docs California Certificate of Acknowledgement Change Texas Notice Concerning Extensions of Credit Colorado Adopts Emergency Rule
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