Mortgage Instructions (Form 3045 Mandatory And Optional Additions)

FANNIE MAE INSTRUCTIONS TO FORM 3045. The Utah – Single Family – Fannie Mae/Freddie Mac Uniform Instrument (Form 3045) is a standardized Deed of Trust document used in Utah for single-family mortgage transactions. It is designed for use with first liens on most property types and occupancies, except for cooperatives. This form includes detailed instructions for lenders on how to properly complete, modify, and record the document to ensure compliance with state and federal laws, as well as investor requirements from Fannie Mae and Freddie Mac. Certain changes are required, such as adding the mortgage loan originator’s name and NMLSR ID number, while other changes are authorized and may be made at the lender’s discretion, such as including borrower initial lines, adding legends to identify document preparers, or naming MERS as the mortgagee of record. The instructions also provide guidance for preparing and recording both Master Forms and Short Forms, including when to insert recording information, property descriptions, and borrower signatures. In addition, specific requirements are outlined for transactions involving trusts, leasehold estates, and VA-guaranteed loans. www.FormsWorkflow.com