What's New 2022

The Fannie Mae (3502, 3522 and 3522.44) and Freddie Mac (3502 and 5510) ARM products will not be available for new transactions because the 1 year Treasury Index is no longer accepted by the GSEs.

Existing Fannie Mae and Freddie Mac transactions using the 1 year Treasury index will remain the same. For new Fannie Mae and Freddie Mac transactions, the Wolters Kluwer products that use the 1 year Treasury index will not be available.

The All Other Monthly Payments field in the Proposed Monthly Housing Expenses section of the Calculations page has been updated to include a Mortgage liability. Previously, the Mortgage liability was excluded from the auto-calculation logic for this field. Also, any liability that is marked as Payoff will not be included in the Proposed Housing Expenses section (Ground Rent, Other, and All Other Monthly Payments). The changes apply to all new or/and copied transactions.

Existing transactions haven't been impacted by the change and the system continues calculating the All Other Monthly Payments, Ground Rent, and Other with no updates.

Fair Lending Notice-CA

The Contact section of the document has been updated to collect the information within the document. Previously, the contact information was populated based on the information entered for Reg B Regulator in Administration. The change has been made as the contact information is specific to this form and should not generally come from the Reg B Regulator.

The Employment Information area of the Party Details page has been updated to show the Federal Income Tax, State Income Tax, Retirements or Social Security, Other Deduction Description, and Other Deduction Amount. Newly added fields apply to the VA loans only and the entered information will print to the Deductions section (rows 32, 33, 34, 35) of the Veteran Affairs Loan Analysis document. The fields are available for current employers; if multiple current employers are entered, the summed values of Federal Income Tax, State Income Tax, Retirements or Social Security, and Other Deduction Amount will print on the document, Previously the fields were completed within the Document Data page.

In the existing transactions where the Federal Income Tax, State Income Tax, Retirements or Social Security, Other Deduction Description, and Other Deduction Amount fields were previously entered within the Document Data page, the entered information will be also transferred to the first current employer of the respective borrower. This way the values entered on the form will remain unchanged. Please review Section E of the Veteran Affairs Loan Analysis and the Party Details page to confirm the accuracy of the data (if needed).

Previously, when the escrowed PMI payment was made annually on the loans that had an initial rate equal to market, the Total Interest Percent was displayed incorrectly on Loan Estimate and Closing Disclosure. The program has been updated and the issue resolved. Now when a user has escrowed PMI payment that was made annually or monthly on the loans that have initial rate equal to market, the Total Interest Percent displays correct values on Loan Estimate and Closing Disclosure.

ComplianceOne has been enhanced with new functionality to automatically generate loan numbers. A loan number can be generated based on the settings selected in Administration (increment, start number, end number, last number used, prefix, and number of digits to display). After setting up a loan number in Administration, a loan number can be generated by selecting Use the system generated Loan Number on the Application and Loan Definition pages. For more information, refer to How do I set up automatic loan number generation in ComplianceOne?

Previously, when a borrower had an automobile lease on the their credit report, the lease payment displayed in the Lease/Ground rent field in Monthly Housing Expenses section on the Calculations page. This was changed so the Lease payment will now display in the All Other Monthly Payments field.

The correct language will now print on the Loan Estimate and Closing Document when fixed rate is set for both phases on a Construction to Permanent loan. Previously, incorrect text printed for the Product name.

The Pipeline Report has been showing an incorrect status for some transactions. This issue was resolved, the report will show the correct status for all transactions.

ComplianceOne Mortgage Attachments Issues

Customers may have experienced issues importing OLA inquiries with attachments. The issue has been resolved.

CBC Automatic Reissue

The CBC Innovis credit interface has been updated to automatically re-issue credit file(s) after the initial file(s) has been issued with no additional user actions.

Late Charge Options for Military Lending Act (MLA) Loans

Late Charge options for Military Lending Act (MLA) loans are now consistent with non-MLA loans. Users have the option to select a fixed amount, a percent, or both. Also, a description field is added to describe what the percent is based on and the ability to set a Late Charge Limit.

Administration Change

We are actively working to add automatic loan number generation to ComplianceOne Mortgage in the near future. To prepare for this feature, changes have been made to the Organizations tab in Administration. The Enable automatic number generation option has been added to the Organizations tab but will not be functional until we implement the entire feature. We recommend not selecting this option until we notify you the feature is released.

Previously, when the Calculation Policy in Administration was set to make all subsequent payments on the last day of the month, the first payment of the second phase in a two-phase loan was not dated correctly, resulting in incorrect dates on the Private Mortgage Insurance Disclosure and the Consumer Note. This issue was resolved and the documents will show correct dates.

If a user was working on the Application page, and an organization was deleted, the deleted organization continued to display after the Application Page was refreshed. Changes were made so the next organization in the list will replace deleted organization and the deleted organization will be removed from the list after the Application page is refreshed.

When resubmitting a transaction to LPA, the previous Key and Loan Identifiers were not included in the request, making the transaction a new loan instead of a resubmission. With this release, the issue has been fixed and the transaction will be considered a resubmission when Key and Loan Identifiers are displayed and the Resubmit check box is selected on the LPA interface view.

New fields have been added to the Desktop Underwriter interface in the Interface Manager for entering parameters for the second credit provider. If the parameters for the first and the second credit service providers have been completed in the Interface Manager, a user can select credit service information to send to DU at the transaction time. If a user does not want to use new functionality, the ServiceProviderCode2, ServiceProviderName2, ServiceProviderAccountNumber2, and ServiceProviderPassword2 should be left blank.

This functionality is needed for those customers who are in process of migrating from Factual Data to Factual Data by CBC. If a credit report was pulled using Factual Data and new credentials to use Factual Data by CBC have been issued, a user can use their old credentials on the Desktop Underwriter interface screen to send the Service Provider Code, Service Provider Account Number and Service Provider Password when submitting a loan for underwriting.

For more information please refer to: How can I set up two credit service providers in Desktop Underwriter?

Previously, when changes were made to an Organization in Administration, and the Loan Definition page was refreshed, the changes did not display or selections did not refresh. This issue was resolved, the changes made to an Organization in Administration will carry over when the Loan Definition page is refreshed.

Previously, on the Builders and Mechanics Lien Contract‐TX,the Builders and Mechanics Lien Contract with Right of Rescission‐TX, and the Consent Construction Contract Assignment forms,signers for the general contractor could not be entered when completing the documents in Document Data for some transaction scenarios. The name and title for up to two signers can now be entered if the General Contractor Entity Type is not an individual or sole proprietorship.

Previously, when a copied loan was submitted to Loan Product Advisor, the Loan Identifier and Key Identifier were retained from the original loan and sent. Changes were made to fix this issue.

Previously, the 'Percent of' drop-down list included two options: Loan Amount and Amount Requested. The fee's calculation was based on the Loan Amount for both options. Changes were made to account for scenarios with only one selection option.

Previously, some existing transactions had missing party information on the Transaction grid. The issue has been resolved, and party information will display for all transactions on the transactions list.

Fees marked as POC (Paid Outside Closing) will now be included in the request sent to Desktop Underwriter to Loan Product Advisor. Previously, when a fee was marked as POC, these values displayed on the Lender Loan Information document but were not being included in the request sent to either Desktop Underwriter or Loan Product Advisor.

Previously, if prepaid PMI was added to a transaction in the Closing phase that exceeded tolerance limits and all other fees were within tolerance limits, the check box to refund the excess tolerance amount wasn't visible on the Calculation page. The credit for the excess tolerance to cure the violation on Prepaid PMI did not show on the Closing Disclosure. The "Refund exceeded tolerance amount" check box will now display, and the credit will print on the disclosure.

Previously, the Post Maturity Rate did not default from a Document Policy set up in Administration. Changes were made so the rate will default correctly. In Document Policy set up in Administration, the "on the same basis as before maturity plus an additional %, until paid in full" option was added to the Post-Maturity Interest Accrues section. Additional percentage points can be added at transaction time.

Previously, when assets were added on the Financial Analysis page, the assets values may not have displayed in the Provide Total Amount field on the Residential Credit Application. This was corrected so the appropriate amount will display and print.

For users with a UCD license, a Page Unavailable message may have displayed after entering an Amount to a Third Party in Disbursements for a Fannie/Freddie transaction and saving. This issue was resolved in this release.

Previously, for a Construction Only loan that included Construction Costs, an error message may have displayed after leaving and returning to the Disbursements page, or refreshing the Disbursement page. This issue was fixed.

Two drop-down lists were added to the Desktop Underwriter Interface page: Community Lending Product and Community Second Repayment Structure.

The 'Enact (formerly Genworth) PMI Company Name option has been renamed to 'Enact' on the Calculations page for UCD licensed customers to prevent the previous warnings.

Previously, the Application Date and transaction could not be edited if a date that was Pre-Trid was entered and a user left the Loan Definition page. With this release, the application date can be edited in this scenario.

After selecting an Reg B Regulator in Administration, the selection have cleared with an updated release. This issue was resolved and a selection for the Reg B Regulator will now be retained for an organization.

Previously when an authorized signer was added for an entity after adding collateral and saving the transaction, the "You don't have permission to access this page" message displayed if a user navigated to the Application, Parties, Document Data, Print, or Collateral pages. After accessing the main page, the transaction could not be opened. This issue was resolved.

We implemented the Loan Product Advisor specification requirements for v5.1.00 and Desktop Underwriter specification requirements for v11. There were no changes to the URLA. Support was expanded for numbered lists, and more information is now collected for subordinate liens and interested party contributions to closing costs.

Previously a loan number with special characters entered on the Application page did not print correctly to documents. This issue was resolved, and a loan number with special characters will print correctly.

The 'Genworth' PMI Company Name option has been renamed to 'Enact (formerly Genworth)' on the Calculations page for UCD licensed customers.

Previously when user changed default value in the Integrated Disclosure Purpose field on the Loan Definition page, it was not retained. This release corrected the issue.

The Purpose Type and Purpose Type Other Description can now be changed/deleted in Document Data and the information will be retained. Previously, if this data was completed in Document Data and changes were made in Disbursements, the information would be cleared on the Closing Disclosure.

Previously, a variable rate transaction where the sum of Initial Rate Hold and Subsequent Rate Changes exceeded the loan term and the 'Disclose the final payment separately', was unchecked in Document Policy, the Closing Disclosure printed incorrectly. Starting with this release, a validation message will display on the Print page for the above loan scenario to prevent users from entering values entered in the Initial Rate Hold and Subsequent Rate Changes from exceeding the loan term.

Updates have been made to add the new federal holiday, 'Juneteenth National Independence Day' to the list of Federal holidays. The Closing Costs Expiration Date on the Calculations page and the Rescission Due Date on the Notice of Right of Rescission document will exclude June 19.

Previously when an entity type was not selected for a borrower or a collateral owner and the transaction was saved, a 'You don't have permission to access this page' error displayed and the transaction could not be accessed. This issue was resolved and the error will not display when the entity type is blank.

The Valid Change of Circumstances check box has been added to the Fee Details page on the closing phase. If the closing fee amount has changed due to a valid change of Circumstances, select the Valid Change of Circumstances check box on the closing phase, and the fee will be excluded from the tolerance check. The revised closing fee value and original closing fee value will print in the Changed Circumstances document.