CNDC-002 Uniform Instruments Reminder

NOTICE TO NDC (DDP and NDDP) and Correspondent Customers

Uniform Instruments Reminder

FLCBank reminds customers to provide the updated July 2021 document versions of the GSE Forms of the Uniform Security Instruments, Notes, Riders and Addenda required with Note dates on or after January 1, 2023, for all Conventional, Second Mortgages, HELOCs, and Jumbo loans. As a reminder, you may not use the updated July 2021 Uniform Instruments in combination with any earlier versions currently in use.

 

Samples of the latest documents can be found in

On the FHA front, the Federal Housing Administration (FHA) published Mortgagee Letter 2023-01, asserting that the 2023 GSE Forms do not algin with FHA’s published instructions for adapting the 2001 version of the GSE documents; therefore, Mortgage Letter 2023-01 provides specific instructions for modifications to be made to the Uniform Security Instruments, Notes, Riders and Addenda for the 2023 GSE Forms should a lender utilize them for FHA Forward Mortgage Transactions.

Note that FHA will continue to accept either the 2001 or 2023 GSE Security Instruments, Notes, Riders and Addenda provided they use the appropriate FHA modification instructions for the security instrument and note noted in Mortgagee Letter 2023-01 .

The Department of Veteran Affairs (VA), and Rural Housing (USDA) have not commented on the updated Uniform Instruments at this time.

FLCBank will continue to purchase loans meeting the guidance offered in the VA, and USDA handbooks regarding the notes and security instruments used to meet insurance or guarantee requirements and recommends Lenders to direct any questions on eligible instruments to their Compliance or Legal departments.

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