Inside This Issue. September E-FORMS End-User Product Update

Transcription

1 E-FORMS End-User Product Update September 2012 To learn more about Wolters Kluwer Financial Services, visit our web site at Information on E-Forms is found by typing E-Forms in the Search box. Electronic Forms Support Technical Support , Ext (available from 7 A.M. to 7 P.M.) contentsupport@wolterskluwer.com (Please type E-Forms in the subject line.) Voice mail and are checked hourly between 8 A.M. and 5 P.M. Central Standard Time. Quotes and Order Information for Custom and OCP E-Forms Please contact your Account Representative. Invoicing , Ext Forms Use and Compliance Questions IRA Forms Questions Real Estate Lending Forms Financial Institutions The objective of this monthly product update is to provide a recap of regulatory-driven form changes, form enhancements, and new forms that are being developed. You will receive a description of these changes so that you can plan ahead for implementing them. We believe this service enhances the value of our electronic forms offering while providing the extra level of service you have come to expect from Wolters Kluwer Financial Services Bankers Systems. We welcome your comments, suggestions, or ideas for enhancements to this update. Inside This Issue Lending Deposit Multistate Forms... Page 2 Multistate Forms... Page 4 State-Specific Forms State-Specific Forms Hawaii... Page 2 North Carolina... Page 5 Nebraska... Page 2 Glossary of Terminology... Page 6 Ohio... Page 3 Completed Forms Grid... Page 9 Texas... Page 3 Other Lending and Deposit Forms Financial Institutions Please have your customer number available when contacting us. Wolters Kluwer Financial Services P.O. Box 1457 St. Cloud, MN

2 Lending Electronic Modules COM, CONCU, FCM, GSM, HEM, HIM, LEM, MHM, MVM, REMCU, TPM LENDING MULTISTATE FORMS Compliance without Required Effective Date ABS-1-LAZ Aircracft Bill of Sale ABS-INS-LAZ - Aircracft Bill of Sale Instructions The U.S. Department of Transportation Federal Aviation Administration has updated their Aircraft Bill of Sale AC Form with a revision date of 01/12. We are updating our forms ABS-1-LAZ and ABS- INS-LAZ to match the state's changes. In the "SELLER" section two fields have been deleted. The second page of the WKFS document "PURCHASER'S COPY" will now be replaced with the state's second page. LENDING STATE-SPECIFIC FORMS New Hawaii Compliance with Required Effective Date 09/01/2012 VMP1070HI Public Notice Regarding Foreclosure This form is used to inform applicant(s) of the lender s right to foreclose in the event of default of the mortgage loan. This form includes an explanation of the foreclosure process and instructs the borrower(s) to read the note and mortgage in order to understand what is required to avoid foreclosure and to consult with an attorney regarding their legal rights. Lenders must provide the notice to all applicants and all owners of the residential property (if different from the applicants) within 3 business days after submission of a written loan application or within 3 business days after the time residential property is required to be used to secure a loan, whether or not there is a written loan application. [HI Rev. Stat effective 9/1/12] Nebraska Compliance with Required Effective Date 10/01/2012 RSPACMVLZ-NV Retail Installment Contract RSSIRVLAZ-NV Retail Installment Contract NV NAC 97 contracts for sales of vehicles model forms ("NAC 97 Forms") have been revised by the State of Nevada Department of Business and Industry Financial Institutions Division. The new model forms must be used beginning October 1, 2012 for those sales of vehicles governed by NRS The new forms cannot be used until October 1, The customer should discontinue using the current forms by October 1, Revisions to the NAC 97 Forms are addressing disclosures, itemization, formatting consistencies, typographical corrections, and accommodating the use of multiple-page documents and electronic contracting. BSI-JS1-1CS /1/07 Wolters Kluwer Financial Services [FORM NUMBER] [JOB NUMBER] [DATE]

3 E-FORMS End-User Product Update Market with Discretionary Implementation Date RSMVAPPLZ-NV - Retail Installment Contract To learn more about Wolters Kluwer Financial Services, visit our web site at Information on E-Forms is found by typing E-Forms in the Search box. Electronic Forms Support Technical Support , Ext (available from 7 A.M. to 7 P.M.) contentsupport@wolterskluwer.com (Please type E-Forms in the subject line.) Voice mail and are checked hourly between 8 A.M. and 5 P.M. Central Standard Time. Quotes and Order Information for Custom and OCP E-Forms Please contact your Account Representative. Invoicing , Ext Forms Use and Compliance Questions IRA Forms Questions Real Estate Lending Forms Financial Institutions Other Lending and Deposit Forms Financial Institutions Please have your customer number available when contacting us. Wolters Kluwer Financial Services P.O. Box 1457 St. Cloud, MN The government monitoring section in the state s model form does not comply with 12 CFR requirements. Because we do not believe that we can change the state s model text by updating or removing content, we are putting an x over the government monitoring section so that it is not used. We are also adding the following use legend to the tagline, Not for use in transactions secured by a principal residence. With these changes, we hope to make clear that the form may not be used for credit applications for which collecting Reg. B information is required. Ohio Compliance with Required Effective Date 09/10/2012 RSSIMVLAZ-OH Retail Installment Contract and Security Agreement RSPACMVLZ-OH - Retail Installment Contract and Security Agreement Changes to the RSSIMVLAZ-OH and the RSPACMVLZ-OH, are in response to Ohio House Bill 487, effective September 10, 2012, which revises section of the Ohio Retail Installment Sales Law, Ohio Rev. Code et seq. ("OH-RISA"), pertaining to a debt cancellation or debt suspension product. In response to customer requests, we are adding gap references and disclosures to the these forms to be used in transactions which include the sale of a debt cancellation or debt suspension product. Texas Market with Discretionary Implementation Date MV-1-TX Application for Certificate of Title The Texas Department of Transportation has revised their Application for Texas Certificate of Title document (form 130-U) with a new revision date of 05/12. We are revising our MV-1-TX to match the state s changes. On the second page under General Instructions, has been added along with other minor changes to match the state's form. 3

4 Deposit Electronic Modules DEM and DEMCU DEPOSIT MULTISTATE FORMS ACHORIGAGRLZ ACH Origination Agreement (Commercial) We are revising the ACHORIGAGRLZ commercial ACH Origination Agreement to make numerous changes driven by numerous sources, including direct market feedback, evolving industry and payment system practices and guidance (ACH system guidelines, industry and regulator guidance regarding authentication and corporate takeover risk), and case law challenging the adequacy and documentation of commercially reasonable security procedures. Changes are being made throughout the document, including but not limited to improve and expanded security procedure options, provisions crafted to ease internal audit compliance, and removal of some provisions that users have indicated are nonessential or unused. New/Revised Features of this Document will include: New Contact Information section formalizing a single, consistent channel for communication between the parties for matters relating to questions about the service or the agreement, and for timely communication of any actual or suspected breach of security or unauthorized access. Internet (WEB) and telephone (TEL) initiated transfers will specify whether one-time (single) or recurring entries will be supported. The risk implications to be considered are different depending on the type originated. New sections and corresponding terms will be added to document procedural details, as applicable, for Returns, Notifications of Change, Prenotifications, and Requests for Acknowledgment Entries in keeping with best practices guidelines. Revised and Expanded Security Procedures, including: More explicit options detailing telephone or other confirmation procedures. New standard options allowing better documentation of security procedures such as Timing Limitations, Separation of Data Preparation, Dedicated Computers, Security Tokens, Challenge Questions. Additional space accommodating financial institution custom-defined security procedures. Updated terms, including an additional provision specifically releasing the financial institution from liability should the Originator refuse or fail to follow an offered security procedure causing a loss due to unauthorized use of the service that could have been prevented had the procedure been followed. A more flexible and user-friendly Fees section. A provision allowing disclosure of availability of funds for debit entries, as recommended by ACH Guidelines, along with corresponding terms anticipating reasonable notice of delay. (These transfers technically fall outside of current Regulation CC coverage.) BSI-JS1-1CS /1/07 Wolters Kluwer Financial Services [FORM NUMBER] [JOB NUMBER] [DATE]

5 E-FORMS End-User Product Update Updated signature language in the Execution section, including an option to authorize a consumer report check for authorizing signers. To learn more about Wolters Kluwer Financial Services, visit our web site at Information on E-Forms is found by typing E-Forms in the Search box. Electronic Forms Support Technical Support , Ext (available from 7 A.M. to 7 P.M.) contentsupport@wolterskluwer.com (Please type E-Forms in the subject line.) Voice mail and are checked hourly between 8 A.M. and 5 P.M. Central Standard Time. Quotes and Order Information for Custom and OCP E-Forms Please contact your Account Representative. Invoicing , Ext Forms Use and Compliance Questions IRA Forms Questions Real Estate Lending Forms Financial Institutions Other Lending and Deposit Forms Financial Institutions Please have your customer number available when contacting us. Wolters Kluwer Financial Services P.O. Box 1457 St. Cloud, MN Updated contractual terms describing the parties data security obligations; clarifying the financial institution s right to terminate upon breach of the agreement; clarifying the bank s right to recredit for uncompleted or disputed transfers and the authority to delay processing upon suspected breach of security; specifying third party delays as a circumstance beyond the financial institution s control; and clarifying that the financial institution may change the terms of the agreement by reasonable notice and that continued use of the service constitutes agreement. Removed Provisions: We are removing the CIP-specific Identification Information section from the first page. Users were not actually relying on this section for CIP compliance and found the condensed format for data collection confusing. Rather, users relying on notice at account opening for any account associated with the service and separate data collection/cip procedures for the parties involved in this service contract. Because this section served no significant contractual purpose beyond CIP functions, it was removed. We are removing the dollar amount Cushion to Account Balance Cushion (ensure space remains for a dollar amount up to a six-figure range e.g., ). Users wanting to establish such a cushion (beyond any exposure limits provided for elsewhere in the document) may do so using the additional provisions area of the document, under the guidance of local counsel. DEPOSIT STATE-SPECIFIC FORMS Market with Discretionary Implementation Date TC-XX (All state specific forms)terms and Conditions We are making substantial enhancements to the Terms and Conditions based on customer requests, changes in industry trends and to clarify certain provisions. North Carolina Correction: We will not be supporting the MP-DEPDOWN-NC to our Eform modules as mentioned in the August Prodcut Update. Compliance with Required Effective Date

6 CD-AABK-NC - Certificate of Deposit North Carolina SB816 rewrote the Banking Laws of North Carolina. The Right of Survivorship Section will be updated to reflect the new citation of Section 53C-6-6. The Bank Payable on Death section will also be updated to reflect the new citation of Section 53C-6-7. The changes are effective October 1, Style and design enhancements have also been applied to this document. Please reference the BSI E- Forms Style Guide Communication for information regarding these changes. Glossary of Terminology We are adding, to our monthly E-Forms Partner Product Update, a glossary of terminology to provide more accurate and consistent communication. We hope the clarification will be useful to you. Compliance with Required Effective Date (xx/xx/xx) The new or revised document is being driven by legislative or regulatory mandate and is required to be implemented by the effective date indicated. Compliance without Required Effective Date The new or revised document is being driven by legislative or regulatory mandate, but the mandate has not defined an implementation date. All parties (Wolters Kluwer Financial Services, alliance, and customer) must respond in as timely manner as possible to implement. Market with Discretionary Implementation Date The new or revised document has: A change in feature or function of a Wolters Kluwer Financial Services document driven by market and customer input to be more useful or easier to use. Wolters Kluwer Financial Services determined clarification or enhancement of a Wolters Kluwer Financial Services document to provide added value. Update to a state or federal form in terms of verbiage or fields which has been incorporated to match the government s changes. The old version of the form is still compliant; however, future revisions driven by legislative and regulation imperatives will be rendered on the new version of the form, not the old version. The implementation time frame by alliance and customer is discretionary, but it is incumbent on the parties to implement in a timely manner so as to not jeopardize continued compliance. (Note: Government form revisions may drive a timelier implementation.) Discontinued with Discretionary Implementation Date The document is being discontinued and replaced by another document as specified. The discontinued document is still compliant; however, future revisions driven by legislative and regulation imperatives will be rendered on the new version of the document, not the old version. The BSI-JS1-1CS /1/07 Wolters Kluwer Financial Services [FORM NUMBER] [JOB NUMBER] [DATE]

7 E-FORMS End-User Product Update implementation time frame by alliance and customer is discretionary, but it is incumbent on the parties to implement in a timely manner so as to not jeopardize continued compliance. Discontinued with Termination Date (xx/xx/xx) To learn more about Wolters Kluwer Financial Services, visit our web site at Information on E-Forms is found by typing E-Forms in the Search box. Electronic Forms Support Technical Support , Ext (available from 7 A.M. to 7 P.M.) contentsupport@wolterskluwer.com (Please type E-Forms in the subject line.) Voice mail and are checked hourly between 8 A.M. and 5 P.M. Central Standard Time. Quotes and Order Information for Custom and OCP E-Forms Please contact your Account Representative. Invoicing , Ext Forms Use and Compliance Questions IRA Forms Questions The form is being discontinued and no longer supported. There is no replacement form designated and form will not be supported at specified date. The action could be driven by several causes such as removal of compliance requirement or business decision to not support a line of business. Technical with Discretionary Implementation Date The new or revised document has a change that relates to the technical structure of the e-form which is non-regulatory and/or non-visible to the form s end user. For example, such changes could be the size of a data field on the e-form or field label which is not visible to the end customer. The document implementation is discretionary, but should be accomplished in a timely manner. Technical changes are not communicated in the E- Forms Partner Newsletter, but in the full release. Revision Date The revision date on the form is the date which Wolters Kluwer Financial Services compliance services initiated making form changes that were Compliance, Market, or Technical in category. The revision date is not the date at which the form was available to alliances or customers. The process time from start of revision to release varies and is dependent on the number documents and jurisdictions affected by regulation change, size of document change, and priority. Real Estate Lending Forms Financial Institutions Other Lending and Deposit Forms Financial Institutions Please have your customer number available when contacting us. Wolters Kluwer Financial Services P.O. Box 1457 St. Cloud, MN

8 About Wolters Kluwer Financial Services Wolters Kluwer Financial Services is a leading provider of regulatory compliance solutions and services for banking, securities, and insurance focused on helping meet your business objectives. To learn more, please visit BSI-JS1-1CS /1/07 Wolters Kluwer Financial Services [FORM NUMBER] [JOB NUMBER] [DATE]

9 COMPLETED FORMS GRID September 2012 Below is a list of the E-Forms, sorted by file name, which were recently completed in Compliance Services. File Name Form Name Description Revision Date CARSMFAZ RSSIMVLFAZCA Motor Vehicle Sales Contract - California 07/01/2012 CARSMFLZ RSSIMVLFLZCA Motor Vehicle Sales Contract - California 07/01/2012 CARSPLFZ RSPACMVLFZCA Motor Vehicle Sales Contract - California 07/01/2012 FLMV1 MV-1-FL Title Application - Florida 07/20/2012 HIAGCORE AGCO-RESI-HI Agricultural Commercial Security Instrument- Hawaii 04/16/2012 HISUBSND SUB-SNDA-HI Leasehold Subordination Agreement - Hawaii 04/16/2012 HSA-T-ORGLAZ XXHSATOR Health Savings Account Organizer Trust - Multistate 06/01/2012 IRACMBDI IRACMBDISLAZ Ira Traditional Roth - Multistate 06/01/2012 KYMV2 MV-2-KY Title Application - Kentucky 05/01/2012 MIAPPAGT APP-AGENT-MI Appointment of Agent - Michigan 08/06/2012 MIPOA POA-MI Power of Attorney - Michigan 06/29/2012 MNBTA1 BTA-1-MN Title Application - Minnesota 07/27/2012 MNBTA1IN BTA-1-INS-MN Title Application Instructions - Minnesota 07/27/2012

10 MNCNSAGR CNST-AGRE-MN Commercial Construction Loan Agreement - Minnesota 06/29/2012 MNCNSNT1 CNSTNOTE1-MN Commercial Construction Note - Minnesota 06/29/2012 MNCNSNT2 CNST-NOTE2-MN Commercial Construction Note - Minnesota 06/29/2012 MNCNSNT3 CNST-NOTE3-MN Commercial Construction Note - Minnesota 06/29/2012 MNMV1 MV-1-MN Title Application - Minnesota 06/29/2012 MNSUBLLS SUB-LLSB-MN Land-Lord Lien Subordination Agreement - Minnesota 06/29/2012 NCMPSBZ2 MPSCBKLAZ-NC Multi-Purpose Signature Card North Carolina 08/11/2012 NCWT1 WT-1-NC Application North Carolina 04/01/2011 NDUC3CIZ UCC3CNINLZND Uniform Commercial Code North Dakota 06/15/2012 NE521LZ 521-LAZ-NE Real Estate Transfer Statement - Nebraska 08/08/2012 NE521MHZ 521MH-LAZ-NE Manufactured Housing Transfer Statement - Nebraska 08/08/2012 NVRSMVAP RSMVAPPLZ-NV Motor Vehicle Sales Contract Nevada 10/01/2012 NVRSPAMV RSPACMVLZ-NV Motor Vehicle Sales Contract - Nevada 10/01/2012 NVRSSIMV RSSIMVLAZ-NV Motor Vehicle Sales Contract - Nevada 10/01/2012 NYMV1 MV-1-NY Title Application New York 06/01/ Wolters Kluwer Financial Services BC EFP-0110-NL 1/15/10

11 OKPACC PACC-OK County Codes Oklahoma 07/27/2012 TXMV1 MV-1-TX Title Application - Texas 08/01/2012 TXRSMLFM RSSIMVLFMZTX Motor Vehicle Sales Contract - Texas 02/28/2012 VTMV1 MV-1-VT Title Application - Vermont 07/27/2012 XABS1LAZ ABS-1-LAZ FAA Aircraft Bill of Sale - Multistate 08/17/2012 XABSINLZ ABS-INS-LAZ FAA Aircraft Bill of Sale Instructions - Multistate 08/17/2012 XRISKNOR RISK-NONREAL Risk Base Pricing Notice - Multistate 05/31/2012 XXHSACNI HSA-CNIN-LAZ Health Savings Account Contribution Instructions - Multistate 06/01/2012 XXHSACUS HSA-CUSORGLZ Health Savings Account Organizer - Custodial - Multistate 06/01/2012 XXROTHDI IRADISROTHLZ IRA Distribution Form - Multistate 06/01/2015 XXW70 W-7 Application for IRS Individual Taxpayer ID Number - Multistate 06/15/2012 XXW7INS0 W7-INST Application for IRS Individual Taxpayer ID Number Instructions - Multistate 06/15/ Wolters Kluwer Financial Services BC EFP-0110-NL 1/15/10