User Resources

Lightning Docs Updates 6.26.26

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

• Updates to the District of Columbia: We are making updates related to the District of Columbia based on a review by local counsel.  The updates include changes to the wording of “state” to “jurisdiction”.  Also, we are updating certain mailing addresses to include the abbreviation “D.C.” instead of the District of Columbia.
• Updates to Ohio Security Instrument: We are updating language for the recording section of Ohio recordable instruments to be consistent with the Ohio cover page.  Both pages will include a “Prepared by and when recorded return to:” statement.
• Updates to the Florida Foreign Principals Affidavit: We have updated programming for the affidavit(s) attached to the Florida Foreign Principals notice. The affidavit(s) will reflect the applicable signer, with the wording indicating either an individual or a representative of an entity.

Lightning Docs Updates 6.12.26 (Part II)

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

• New Feature *Additional Impounds*: Users can now add impounds for the following tax types:
  • City TaxesCounty TaxesSchool TaxesTown TaxesVillage Taxes
  
  
  To use this feature, it must be enabled on the Permissions page of a scenario. Once the feature is enabled, the additional tax types will be available when creating impounds.

Lightning Docs Updates 6.12.26

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

• New Feature *Amortization Schedule*: We have added a feature for amortized loans (partial and full) where the user can elect to include an amortization schedule that is created in Lightning Docs. To use this feature, it must be enabled on the Permissions page of a scenario.

If the user elects to include an amortization schedule, the following will occur:

1. A reference to the Schedule will appear in the Key Provisions Summary.
2. A reference will be added in the section of the Note concerning monthly payments, and if applicable, the section of the Note concerning the Balloon Payment.
3. The Schedule will appear after the Note.

The amortization schedule feature is not compatible with the following:

1. Lines of Credit.
2. Loans with Non-Dutch interest for reserves.
3. Loans where interest is being paid in advance and not in arrears.
4. Loans where the Maturity Date does not match the final normal monthly payment date.
5. Payments are interest only for the full loan term.
6. Loan with step interest.

• Defining “Title Company” and “Closing Agent” in the Lender’s Closing Instructions: The defined terms for “Title Company” and “Closing Agent” have been updated within the Lender’s Closing Instructions. This enhancement provides additional clarity regarding which party is responsible for reviewing and initialing each section of the instructions. The revised definitions are intended to help ensure consistent interpretation of the document and reduce potential confusion during the closing process.
  • No changes have been made to the substantive requirements of the Lender’s Closing Instructions. This update is limited to clarifying the roles and responsibilities associated with the initialing requirements throughout the document.

Lightning Docs System Update 6.5.26

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

• As part of ongoing outside counsel reviews, we have made the following amendments that apply to Pennsylvania loans:
  • “State of Pennsylvania” changed to “Commonwealth of Pennsylvania” throughout loan documents to conform to local practice.
  • Reference in documents titled as “Cognovit  [Insert Document Name]” changed to provide that the documents contain a “Warrant of Attorney to Confess Judgment.”  These updates have been made to conform to local practice for the following documents: Security Instrument, Note, and Guaranty.  
  • Security Instrument
    • Notice on top of page 1 updated to include “Fees, Costs” in amounts secured by future advances.
    • New section added regarding future advances. Provides that Borrower may send written notice to Lender to limit certain future advances in accordance with local practice.
    • Added reference in Future Advances to the Pennsylvania statute that provides lenders with greater protection for lien priority.
    • Confession of Judgment – added that a Writ of Possession may be issued not only without a prior writ or proceeding, but also “without the necessity of filing a bond” which conforms to local practice. and allows for a more immediate issuance of a writ.
  • Guaranty – Confession of Judgment section has been expanded to conform to local practice and provide lender greater protection.
• Addition of Acceleration Language in the Security Instrument: As part of our continued dedication to incorporate best practices to protect lenders in our documents, we have added a provision to the Uniform Covenants section of the Security Instrument providing a general statement that the Lender may accelerate the Loan during a continuing Event of Default.
• Indiana Notary Acknowledgment: We have removed the affirmation statement regarding Social Security Numbers from the Indiana notary acknowledgment for documents that provide an Indiana acknowledgment but are not recorded.

Lightning Docs Updates 5.29.26

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

• New Option to Attach a Schedule of Release Prices: We have added an additional option for users to attach a schedule of release prices in conjunction with partial releases as described below.
  • If you select “Insert a table with release prices” in the dropdown of responses for “Minimum Release Price Calculation Method” in the Property Information section of the interview, a new question will appear where you can indicate that you want to attach a separate Schedule of Release Prices rather than using the table that appears in the Loan Agreement.
    
  • If you opt to attach a separate Schedule, a textbox will appear that will allow you to manually enter the information as you would like it to appear in the attached Schedule. Please note that you will not be able to format the text into a table in the textbox. Other than line breaks entered in the textbox, the text will appear unformatted in the loan documents. If you do not enter any text into the textbox, a placeholder page will be inserted after the Loan Agreement with the title “Schedule of Release Prices” at the top.
• Updates to New York Building Loan Agreement, Lien Law, Section 22 Affidavit: We have updated the New York Building Loan Agreement, Lien Law, Section 22 Affidavit to (a) better match the borrower statement with each option under the borrower structure; and (b) improve the display of the loan costs table, including the loan amount.