The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) have made a text revision to their Form 3019 (the Louisiana-specific mortgage) for administrative clarification purposes.
The text revision occurs in the second sentence the Cancellation covenant (number 26). Previously in this sentence, depending on the forms vendor, either the words “Parish of Orleans” appeared, or the words “Parish of” appeared followed by a field in which a parish name could be entered. The revised sentence does not indicate or require a parish name:
- Previous Language:
Following the full payment and satisfaction of all sums secured by the Security Instrument, Borrower may request in writing that Lender provide Borrower with the original paraphed Note marked “paid in full”, or with an appropriate mortgage cancellation certificate, for submission to the Clerk of Court or Recorder of Mortgages for the Parish of _________________for the purpose of canceling this Security Instrument.
- Revised Language:
Following the full payment and satisfaction of all sums secured by the Security Instrument, Borrower may request in writing that Lender provide Borrower with the original paraphed Note marked “paid in full”, or with an appropriate mortgage cancellation certificate, for submission to the Clerk of Court or Recorder of Mortgages for the parish in which the Property is located for the purpose of canceling this Security Instrument.
The updated Form 3019 with a revision date of 10/18 is available for immediate use on the Fannie Mae and Freddie Mac websites.
Link to Fannie Mae Updated Form 3019.
Link to Fannie Mae Updated Form 3019 Instructions.
Link to Fannie Mae Legal Documents News/Updates.