Lightning Docs Updates 8.28.26

We have issued an update to the system that modified the following:

• Addition of New Hampshire Statement of Finance Charges Disclosure: A new form has been added to the document stack (and Loan Documents list in the Lender’s Closing Instructions) whenever there is at least one property in New Hampshire. The form is a summary of finance charges related to the loan, and is signed by the Borrower(s) and any Guarantor(s).

Lightning Docs Updates 8.25.26

We have issued an update to the system that modified the following:

ASSIGNMENTS

We have enhanced the Assignment feature in Lightning Docs. This update will allow users to:

• Create unlimited assignments and allonges for a transaction.
• Create assignments and allonges for a transaction at any point in time.
• Create assignments and allonges with placeholders in the documents if information about the assignee is unknown at the time of creation.

• Include recording information in assignments that occur post-closing.
• Identify an address for delivery of the recorded assignment(s) that differs from the  Assignee’s notice address (this applies to all assignments created).
• Identify a specific document date for assignments created post-closing.
• ***Please note that for any assignments that occur after it has been assigned into MERS, only an allonge will be produced.

Lightning Docs Updates 8.14.26

We have issued an update to the system that modified the following:

1. Current Treatment:  By default, the notary acknowledgment that appears in the documents is determined by the property state of the first real property entered in the system. There are some exceptions to this rule, but generally this is the determining factor.
   
   We have now introduced two new options. These options will allow users to have more control over which state’s acknowledgments should apply.  The relevant information will appear in the acknowledgment to the fullest extent possible.
   • Option 1: Our default treatment has not changed, so if this works for you, no further action is required.
   • Option 2: You can override the default setting and select a different state’s acknowledgment to control all notary acknowledgments. The system will automatically generate and apply the selected state’s acknowledgments throughout the document. See instructions below on how to use this feature.
     On the “Customization to the Loan Documents” page of the interview, you will now see the fields shown below.
     
     
     In the following example , Florida was selected as the collateral property state. Choose the state which should control the acknowledgments from the drop-down menu.
   • Option 3: If  any individuals will be signing in a state other than the collateral property  state (Option 1/our current default) or the state manually selected to override  our default selection selected via Option 2 (which would apply to all  individuals), you may choose which state will control the acknowledgements  of any specific individual(s). See instructions  below:
     
     Select “Click to Add”. Here, you will specify the individual and appropriate notary state as needed.
     
     Note: If you select a signer but do NOT identify the signing state for the signer, Option 1 (our current default) or Option 2 (a different state you manually selected for all individuals) will control the signer’s notary acknowledgement.
2. Previously, the system displayed all notary block variations associated with the signing party’s entity type (i.e.  individual, limited liability company, or corporation), requiring users to manually remove any inapplicable options. The system has been updated to automatically populate the appropriate notary block based on the entity type selected during the interview.

Lightning Docs Updates 7.30.26

We have issued an update to the system that modified the following:

• Updates for Purchase Money Loans: When Florida, Mississippi, or Nebraska is selected as a property state, the interview will include the question, “Is this a purchase money loan?”. When the answer is “No”, disclosures that are only required for purchase loans will be excluded from applicable loan documents, including the Florida Notice and Affidavit of Conveyance to Foreign Principals, Florida Purchaser-Mortgagor, Mississippi Foreign Principals, and Nebraska Foreign Principals Affidavit.

Lightning Docs Updates 7.10.26

We have issued an update to the system that modified the following:

• *New Feature* Produce a Separate Guaranty for Each Guarantor: We have enhanced the available options for Guaranties so you can elect whether to create a separate Guaranty for each Guarantor. On the Guaranty screen, you will now see the below question appear at the the very top of the page.

• As part of ongoing outside counsel reviews, we have made the following amendments:
  • Agreement (all states):
    • Force Majeure Event definition.  To provide Lender greater protection, we have added language that requires Borrower to take reasonable steps to mitigate the effects of an event, and to provide timely notice to Lender.
    • Construction loans only.  Use of Construction Reserve Proceeds section expanded to add language regarding Lender’s right to retain the Construction Reserve until certain conditions are met to Lender’s satisfaction.
  • Security Instrument (Texas only) :
    • Acceleration and Sale on Default section expanded to include public auction timing requirements, in accordance with local practice.
  • Guaranty (Texas only):
    • Waiver section has been expanded to conform to local practice, with the addition of applicable sections of the Texas Property Code.

• West Virginia Updates: As part of an annual review by outside local counsel, we have made an update to the Security Instrument, Non-Uniform Covenant of Acceleration and Sale on Default to specifically reference the applicable West Virginia Code sections.