What's New 2016

Date	Description
December 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Functionality There are no new features with this release. Updates to Existing Functionality The Housing Counseling Agencies Notice will now be based on the postal code of the mailing address. If the mailing address postal code is not entered and Mailing Address is the same as Physical Address is not selected, agencies will not print on Housing Counseling Agencies Notice. The Housing Counseling Agencies Notice previously used the postal code of the physical street address. On the Financial Analysis page, when a credit report is pulled from an interface and the results comes back with no credit score or a 0 credit score, Score Not Available will be selected. For existing transactions, review and recreate documents if necessary. On the Financial Analysis page, changes made to Liabilities are now saving. Previously, changes made to Liabilities were not saving when the transaction had a Real Estate Owned item where the Property Status was not blank. On the collateral details page for collateral located in New Mexico, you can choose to use a Deed of Trust instead of a Mortgage and enter in the Trustees. For collateral located in Idaho, Montana and Washington you can choose to use a Mortgage instead of a Deed of Trust. Previously, these questions were asked on the Document Data page. On the Calculations page under the Terms of Loan section, when the amount of Prepaid Odd Days Interest is negative, POC is no longer available. For existing transactions with negative Prepaid Odd Days Interest, POC will be unselected. The calculations have been updated to successfully calculate the transaction when the Prepaid Odd Days Interest amount was originally greater than the loan amount and the Funding Date was changed. For example, if you inadvertently entered a Funding Date of 07/01/1016, calculated, and then changed the Funding Date to 07/01/2016, previously the calculations would not complete. On the Calculations page under the Fees section, you can remove more than one fee at a time. The first column is a checkbox used to select which fees you would like to remove. The column heading 'Remove' allows you to either select or unselect all fees in the list. Only fees added in the phase you are working in are allowed to be removed. If you added fees during the application phase, you cannot remove them while in the closing phase. The checkboxes will be hidden on fees that were created in a different phase or are considered system-generated such as Prepaid Interest or Mortgage Insurance. Once you have selected a fee for removal the 'X' button will appear next to the '+ Fee' button. A link to the online help has been added to the Closing Disclosure page within a transaction. The Product field that prints on the Loan Estimate and Closing Disclosure has been updated to no longer display trailing zeros for interest only transactions. If there is a zero in the hundredth place, that value will be truncated and just the tenths place will print. Previously, if the Number of Interest Payments was 31 payments, the Product field would display '2.50 Year Interest Only'. With this change, '2.5 Year Interest Only' will now display. The Loan Estimate will correctly display $0 in Section E. Taxes and Other Government Fees after deleting all fees on the Calculations page. Prior to the change, the fee total associated with section E. Taxes and Other Government Fees would still display on the Loan Estimate even after being deleted. A phone number is now collected in Administration on the Addresses page for an alternate 'Payment Center' address and an alternate 'Address to return the organization's copy of the Mortgage Loan Commitment document'. Once your policy administrator adds the phone number you will see the phone number appear on the documents. For existing transactions, refresh the Organization data on the Loan Definition page. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Census Tract information is now being sent to the core provider. The HMDA Wiz interface has been updated to print the party name for sole proprietor on the HMDA Wiz Report. The Wiz Sentinel interface has been updated to print the party name for sole proprietor on the Wiz Sentinel Report.
November 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Functionality The product supports non-residential real estate transactions. On the Collateral page, select + Other Collateral and under Real Estate select Non-Residential Real Estate. Check out the Fees section on the Calculations page, it has been updated to allow you to edit some of the fee details directly on that page without having to go into each fee detail. Updates to Existing Functionality On the Financial Analysis page under the Real Estate Owned section: Exclude from Total has been added so you can identify if a real estate owned asset should be excluded from the totals that print on the credit application documents. If selected the real estate owned asset will not be included in totals on the Financial Analysis page or in totals on the Uniform Residential Loan Application (URLA) and Universal Credit Application Real Estate (UCA-RE) in the Schedule of Real Estate Owned section. For additional information, refer to the question: How does the Exclude column for a liability impact the documents? in the Financial Analysis section of Help. Property Status has been added so you can identify the status of each real estate owned asset. This was previously collected on the Uniform Residential Loan Application (URLA) or Universal Credit Application Real Estate (UCA-RE) in the Asset – Real Estate section within the Document Data page. The options are unchanged and include: O, PS, S, and R. For additional information, refer to the question: What do the Property Status options within the Real Estate Owned section represent? in the Financial Analysis section of Help. When in the closing phase, on the Fee Details page the Paid By field no longer looks read-only. On the Calculations page, we have corrected an issue which prevented the ability to charge a Trustee Fee, Assumption Fee, or Attorney Fee when it was permitted by Fannie Mae, Freddie Mac, or state law. As a result, the ability to apply these fees is now present on the Calculations page for the following types of transactions: Trustee Fee All Fannie Mae and Freddie Mac transactions when the collateral state is Maryland, North Carolina, or District of Columbia. It was previously only available for the Fannie Mae and Freddie Mac 3200 product. In-house transactions where MLA applies and the collateral state is Maryland, North Carolina, or District of Columbia. Assumption Fee All Fannie Mae and Freddie Mac transactions when the collateral state is Nevada or Oklahoma. In-house transactions where MLA applies and the collateral state is Nevada or Oklahoma. In-House transactions when the collateral state is Nevada. Attorney Fee All Fannie Mae and Freddie Mac transactions when the collateral state is Delaware. In-house transactions where MLA applies and the collateral state is Delaware. On the Calculations page, the Late Charge section has been updated so that the late charge policy information from Administration defaults into the transaction. Prior to this change, only the grace period was defaulting from Administration. The Disbursements page has been updated to a table format to prepare for future Uniform Closing Dataset (UCD) changes. This new format is applicable to all transactions. When doing an amortized balloon loan the initial balloon payment in the $10,000 example under How your Payment Can Change was showing the incorrect value. The value shown was the payment at the market rate. The initial balloon payment now reflects the balloon payment based on the initial rate. On In-House variable rate transactions where the Initial Rate Subject to Floor is not selected on the Calculations page, the language ‘The initial premium feature of this ARM program is not taken into consideration in applying interest rate limitations’ will no longer print in the ‘How Your Payment Can Change' section of the Adjustable Rate Mortgage Program. This was previously printing in error. On the Agreement to Provide Insurance document, Insurance Agency Name now saves. Previously, the Insurance Agency Name would not save if you viewed the collateral details page after entering the information on the Document Data page. Two signature lines, instead of one, are now available on the Builders and Mechanics Lien Contract-TX and Builder’s And Mechanic’s Lien Contract With Right Of Rescission-TX documents for construction transactions (Construction Only or Construction and Permanent Note is selected on the Loan Definition page) with collateral located in Texas. In the closing phase, two Signer sections are available within Document Data to complete the General Contractor Signer Name and General Contractor Signer Title. Two signature lines for the architect signer have been added to the Consent-Architects Contract Assignment document for Initial Construction transactions. In the closing phase when the Construction Professional Party Type is Entity within Document Data, two Signer sections are available to complete The name of the person signing on behalf of the entity and The title of the person signing on behalf of the entity. Two signature lines for the general contractor signer have been added to the Consent-Construction Contract Assignment document for Initial Construction transactions. In the closing phase, two Signer sections are available within Document Data to complete the General Contractor Signer Name and General Contractor Signer Title. The Manner Title Held has been added on the Document Data page for the Fannie Mae 1003 Freddie Mac 65 Uniform Residential Loan Application and Credit Application Real Estate documents to complete the 'Manner in which Title will be held' field. The Vesting Language is still available on the Document Data page for the Deed Of Trust Closed End and Mortgage Close End documents which allows you to have different information between the credit application and your Deed of Trust or Mortgage. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Jack Henry 20/20 interface has been updated to support mobile home collateral for residential and non-residential transactions. We have corrected the secondary data field “Transfer From Account” to properly display the debit account number.
October 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List Updates to Existing Functionality The Source of Funds section is available on the Disbursements page when Type of Mortgage is In-house. In addition, when Type of Mortgage is Fannie Mae, Freddie Mac, FHA or In-house and Use Fannie Mae 1003 Freddie Mac 65 URLA is selected on the Document Data page, the Source of Funds information from the Disbursements page will print in the Source of Down Payment, Settlement Charges, and/or Subordinate Financing field on the Fannie Mae 1003 Freddie Mac 65 Uniform Residential Loan Application. The Escrow Account Rolled Over on the Document Data page under the Note section has been removed because it is not supported. If previously selected, it would have stopped the Escrow Account Disclosure from being added to the document list. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The CRA Wiz Interface has been updated with expanded search functionality when retrieving records. You can now filter by date range and include previously retrieved records in your search.
September 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features The product supports transactions subject to the Military Lending Act secured by Raw Land. MLA transactions are first lien Raw Land loans with an installment repayment method and the option of a percent only late charge. With variable rate transactions, periodic caps are required and the interest rate rounding can be up, down or to the nearest. The following features are not supported when MLA Applies: Trusts (as either the borrower or collateral owner), cosigners or guarantors Construction Loans Charging a returned payment fee The General Interest Law – Home Equity Loan Act Assumable loans with variable rates The mandatory compliance date is 10/3/2016. Until the system date is 10/3/2016 or after, you will receive a validation warning indicating that the transaction is not supported until MLA effective date. For additional information refer to the following questions in Help: What is the purpose of MLA Applies?, What is the purpose of the MLA Covered Borrower link?, and Does the MLA rule provide safe harbor?in the Loan Definition section in Help. What fees are included in the MAPR? in the Calculations section of Help. How can I enter the toll free number on the Military Lending Act Statement of MAPR? in the Document Data/Specific Data section of Help. Updates to Existing Functionality On the Loan Definition page, Loan is Assumable can now be defaulted based on the Document Policy applied at transaction time. Review your document policies in Administration to determine if changes are needed. For existing transactions, Loan is Assumable will display as previously checked or unchecked. If you refresh a previously chosen Document Policy or select a new Document Policy on the Loan Definition page, review the Loan is Assumable option for possible changes. For additional information, refer to the question: ‘What is the purpose of the Assumable option? in the Loan Definition section of Help. The Loan Officer address will now print in the Address row of the Lender column in the Contact Information table of the Closing Disclosure. The Loan Officer address is captured within Administration on the Contacts page and allows you to provide the location of the Loan Officer, if different from the organization address. It is recommended that you review the address entered in Administration for your Loan Officer contacts. If you wish to include the organization address in the Address row of the Lender column in the Contact Information table, the Loan Officer address should be removed from the Loan Officer contact in Administration. The Loan Officer address does not print to any other documents or used for any other purpose. For existing transactions, the organization address will continue to print unless you refresh a previously chosen Loan Officer or select a new Loan Officer on the Loan Definition page.
August 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features There are no new features with this release. Updates to Existing Functionality On the Calculations page, the Periodic Rate Caps has been disabled for Fannie Mae and Freddie Mac products where you cannot change the option and it must be 'Apply on a per adjustment basis'. (Fannie Mae 3502, 3522, 3522.44, 3526 and 3528) (Freddie Mac 3502, 5510 and 5531) In some cases when deleting fees an error, 'unable to delete fee: undefined', may have been displayed on the Calculations page or the Home button and ComplianceOne header was duplicated. This has been fixed. On the Calculations page, the Escrow section has been updated to save changes when you modify just the escrow frequency and not the amount. Prior to this change, the frequency would not save after calculating. On FHA transactions where the Mortgage Insurance Collect As is Cash, the mortgage insurance premium is calculating on the mortgage term instead of 11 years. For existing transactions, review and recreate documents if necessary. On the Calculations page, transactions with the Payment Frequency of Every Other Week, Quarterly or Annually, the Proposed First Mortgage amount no longer doubles when you select calculate. On the Print page, a validation warning has been added to help communicate that the sum of the Prepaid PMI Number of Payments and the Escrow PMI Cushion must be less than 12. The Print page has been updated so that the document list includes the correct number of instances of a document. Previously, when the transaction resulted in multiple instances of the same document only one instance was displayed when creating documents. On the Deed Of Trust Closed End document you can enter up to two alias names for additional signatures when real estate collateral is located in the state of Texas and is not a homestead. For existing transactions that meet this criteria, you will need to go to the collateral details page and save the collateral in order for the alias names to be available on the Document Data page. On the Closing Disclosure, there was an issue where the lender credit could be off by a penny under the Costs at Closing section compared to the value listed under the J. Total Closing Costs section. This has been fixed. Within Document Data, on the Closing Disclosure and Loan Estimate, an Address section has been added to collect a Street Address Short Name and City Short Name to allow for a shortened or abbreviated Property address to print on the documents. If left blank, the Address and City from the first piece of collateral will print. On the Loan Estimate and Closing Disclosure, the Loan Terms section, Principal and Interest row has been updated for construction with permanent financing transactions. The ‘Includes only interest and no principal until’ bullet has been updated to include the timing of the last interest only payment. Prior to this change, this bullet included the timing of the first principal and interest payment. For existing transactions, review, calculate and recreate the documents if necessary. On the Loan Estimate, we have corrected an issue with the Projected Payments Table. This change affects construction with permanent financing transactions where the interest only period is not evenly divisible by 12 and there are escrowed items in the permanent financing phase. For existing transactions, review, calculate and recreate documents if necessary. On the Fannie Mae 1003 (URLA) or Universal Credit Application (UCA) documents, the best format to use for entering the ages of dependents is a whole number then a comma and a space before entering the next age (i.e. 8, 10, 12). An error was displayed when the dependent's ages were not in this format (for example, 8,10,12 or 8 10 12) and you performed an Ability to Repay (ATR) check. The following can now be used; a comma, a space or slash ( / ) between the ages. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Fannie Mae 3.2 and MortgageBot interfaces have been updated to populate the appropriate employer Base Monthly Income amounts on the Parties Employer Information page when two current employers for a party are being imported. The Freddie Mac Loan Product Advisor interface has been updated to only send the employment and summary containers when a current employer or previous employer has been provided. The suffix of a party can be imported when using the Standard Import interface.
July 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features Four additional documents are available for you to access in your transactions: The First Payment Letter is available in the closing package when Include First Payment Letter Document is selected in the Transaction Data section on the Document Data page. The Occupancy Affidavit and Financial Status document is selected in the closing package when Type of Mortgage is Fannie Mae or Freddie Mac on the Loan Definition page and Owner’s Principal Dwelling is selected within collateral details. The Occupancy Agreement is available in the closing package when Select Occupancy Agreement is selected in the Transaction Data section on the Document Data page. The Title Insurance Disclosures document is available in the upfront package when: a service provider has been entered in the Affiliated Business Arrangements section of the applicable document policy within Administration, and Include the Title Insurance Disclosure is selected within the Transaction Data section on the Document Data page, and Title Insurance Company Affiliate of Lender is selected within the RESPACBAServicer section on the Document Data page. Updates to Existing Functionality On the Loan Definition page, Same Lender with New Money has been added as a Refinancing option for Fannie Mae, Freddie Mac, and FHA transactions where the Purpose Type is No Cash-Out Refinance or Limited Cash-Out Refinance. Within the collateral details of Mobile Home Personal Property/Residence located in states other than Michigan, Nebraska, Texas, Washington or Wisconsin, the seller information entered will save. On the Loan Estimate and Closing Disclosure, the subtotals in Sections D, I, and J were updated in preparation of the upcoming implementation of the Uniform Closing Dataset (UCD) requirements issued by Fannie Mae and Freddie Mac. While the amounts of the subtotals were not changed, for existing In-house, Fannie Mae, Freddie Mac, and FHA transactions you will need to review, recalculate, and recreate documents in order for the subtotals in Sections D, I, and J to print. If you would like more information on UCD, please visit http://www.freddiemac.com/singlefamily/sell/ucd.html or https://www.fanniemae.com/singlefamily/uniform-closing-dataset. On the Fee Details page, when a fee is saved in the Closing phase, Fee is not applied at Closing is not selected, and the fee has a $0.00 amount, a validation message will now display. A fee entered with an amount of $0.00 will not print to the Loan Estimate or Closing Disclosure and should not be included in the tolerance comparison. You will be reminded to select Fee is not applied at Closing to exclude the fee amount from comparison for tolerance purposes. If you continue without selecting Fee is not applied at Closing, a Warning will appear on the Print page, allowing you to return to the fee and make the necessary changes. When selecting USDA Mortgage Insurance Applies on the Calculations page, the name of the upfront fee paid to USDA has changed from 'Mortgage Insurance' to a default of 'USDA Guarantee Fee'. You can modify the default value by updating the text in USDA Guarantee Fee Name in the Mortgage Insurance section. The name entered in USDA Guarantee Fee Name will be shown in the Fees, Calculation Results, and Comparison of Loan Estimate and Closing Disclosure Fees sections on the Calculations page. In addition, the name will print to documents such as the Loan Estimate and Closing Disclosure. For existing transactions, review and recreate documents if necessary. For construction only fixed rate transactions the final payment is reflected in the Payment Stream Information section on the Loan Information Report as the total of principal and interest due instead of just an interest only payment. For existing transactions, review, calculate and recreate the documents if necessary. On the Parties page, when an Individual is added as a Guarantor and Insider as well as Insider Type of Executive Officer have been selected in Party details, the Regulation O Addendum is selected and the guarantor name appears on the document. When using Internet Explorer 9, you are able to create documents on the Print page when in the closing phase. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The credit interface has been updated to send the correct credentials to the interface when doing a reissue of a credit report. Previously, you may have seen an error 'Access Denied for Office and Client Code' because the consumer credentials were being sent for a mortgage pull and the mortgage credentials were being sent for a consumer pull. The Fannie Mae 3.2 Import has been updated to correctly import a transaction with 2 or more instances of Title Holders (BorrowerNameOnPropertyTitleDescription 02C – in Fannie Mae 3.2 File). The ULDD interface was updated to fix the issue where the Total Monthly Proposed Housing Expense Amount was greater than the Total Liabilities Monthly Payment Amount. The Wiz Sentinel interface has a new parameter in Interface Manager, “State High Cost Test License”. This field can be used to indicate whether an account has this license as part of their Wiz Sentinel functionality, and it will be included in the Wiz Sentinel report requests. The Wiz Sentinel interface has been updated to correctly exclude prepaid Escrow Mortgage Insurance from the Amount Financed that is passed to Wiz Sentinel. The Wiz Sentinel interface has been updated to include Construction Type of Initial or Improvement to ensure that transactions with a Construction Type of Improvement are correctly evaluated for Section 32 tests. The Customer Due Diligence (OneSumX) interface has been updated to properly pass the date of birth for all parties.
June 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features The processing package of documents has been added to the application phase of the workflow to help streamline your processes and provide you access to documents like the Details of Changed Circumstance. Processing documents can be printed without the need to complete all of the closing specific data that produce warnings in the closing phase (e.g. missing collateral seller, missing fee section). Updates to Existing Functionality Transactions transferred from ComplianceOne lending to ComplianceOne mortgage no longer require you to refresh the Document Policy on the Loan Definition page in order for the dynamic version of the documents to be selected. Document policies with Use the alternate version of the document(s) where checkboxes and inapplicable content have been removed selected now retain this selection and you no longer have to refresh the Document Policy within the transaction. On the Financial Analysis page, when you pull credit, any liabilities with a zero Outstanding Balance will default to Exclude instead of blank. If this is not the correct option for the liability you can change to blank or Exclude from Debt Ratio. Type of Mortgage options of Fannie Mae, Freddie Mac, and FHA are no longer available for transactions secured by Raw Land. Within the collateral details of Mobile Home Personal Property/Residence, the Organization's Lien Position and Property Insurance Coverage Type, if applicable are now saving. When the Disclose the final payment separately for installment loans is selected and the Calculations Interest Method Default is set to U.S. Rule in the calculation policy within Administration, you will now notice the balance at the end of the loan is zero and the interest total from the amortization schedule should match the interest portion of the Total Finance Charge on the Calculation Results. Previously, the total for K. Due from Borrower At Closing within the Summaries of Transaction section of the Closing Disclosure included Adjustments for Items Paid by Seller in Advance regardless of the Paid By selection. This has been updated to include only those Adjustments for Items Paid by Seller in Advance when Paid By Seller. The following state specific documents are selected in the Closing phase for transactions secured by Mobile Home (Personal Property Residence). Manufactured Housing Title Applications for the states of CA, MI, NE, TX, WA, and WI Motor Vehicle Power of Attorney for the states of AZ, DE, FL, MI, TN, and TX Motor Vehicle Notice Of Lien-FL The Written List of Providers document no longer displays more fees than what is selected. For existing transactions, review, calculate and recreate the document if necessary. For variable rate transactions with a Payment Frequency of Annually, the following validation warning displays on the Print page when appropriate: “You have entered a ceiling that is greater than the maximum possible rate that can be reached on this transaction.” This validation warning did not previously appear for these transactions. The validation warning indicating 'Negative amortization is applicable to the transaction and is not supported' on the Print page has been corrected to no longer appear on construction loans when negative amortization does not apply. During an update for a new release, if existing transactions require updates due to new or changed requirements, an item is included in Help - What's New and the transaction will be updated once it is opened. The Modified by on the Home page will reflect the user who first opened the transaction after an update. Prior to the June release affected transactions reflected the deployment date as the modified date and the modified by displayed 'System'. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Fannie Mae 3.2 Import has been updated to correctly accept employer names with special characters and values greater than $1 million in the following fields: Assets, Sales Price, Appraised Value, Market Value, Purchase Price, Down Payment, and Subordinate Financing. A short-term fix is being applied to correct the error that is presented when importing a transaction with 2 or more instances of Title Holders (BorrowerNameOnPropertyTitleDescription 02C – in the Fannie Mae 3.2 File). Only the first instance of this will be imported, additional title holders will need to be manually added after import. A long-term solution to import multiple instances of this field will be included in a future release. The credit interfaces have been updated to save the credit report data if less than 3 credit scores are returned. The flood interface will now pass the name of the processor who ordered the Flood Hazard Determination. It will print on the document when accessed in Settlement Services. Within the CRA Wiz interface, the error that occurs due to special characters being entered into the interface fields has been corrected. This will no longer present when downloading the CRA Wiz report. The CRA Wiz report will now correctly display “No Co-Applicant” in the Race section when there is no co-applicant on the transaction. The HMDA Wiz interface has been updated to correctly pass borrower name to the HMDA report when the non-borrowing spouse name has been provided. The Wiz Sentinel interface has been updated to stop passing fee totals equaling $0.00.
May 2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features The product supports construction only variable rate transactions. On the Loan Definition page, you can indicate that you want the Notice of Right of Rescission on a No Cash Out or Limited Cash Out Refinance with Same Lender by selecting Principal Dwelling Added. On the Loan Definition page, Loan is Assumable has been added for you to indicate that the transaction is assumable for the following types of transactions: In-house, Fannie Mae 3200, Freddie Mac 3200, Fannie Mae 3244.1 and Freddie Mac 3244.1. For existing transactions, review, update and recreate documents if necessary. For additional information, refer to the question ‘What is the purpose of the Assumable option?' on the Loan Definition page in help. The payment frequency of Annually has been added for the following types of transactions: in-house, non-construction, fixed and variable rate installment and amortized balloon/balloon transactions in-house, non-construction, fixed rate interest only transactions in-house, fixed rate, construction only and construction with permanent financing transactions Within Administration on the Calculations Policy page, Annually is now an option to be selected as a default value for the Payment Frequency. On the Document Data page, you can select Within two years loan proceeds will be used to place a dwelling on the property in transactions secured by Raw Land. When this is selected, the Housing Counseling Agencies Notice-HE is selected and the collateral address prints on the document. Within Document Data, on the Mortgages and Deeds of Trust you can add additional signature data for each piece of collateral applicable on the transaction. For existing transactions, you will need to visit the collateral details page and save prior to navigating to the Document Data page. For additional information, refer to the question Where can I enter the name of an individual who has an interest in the property without being an owner of the property? on the Document Data/Document Data page in help. Updates to Existing Functionality On the Party Details page under the Employment Information section, you can enter negative monthly income amounts for any entered employers. On the Financial Analysis page under the Monthly Income section, you can enter negative monthly income amounts. An issue specific to Google Chrome was fixed where data was being deleted when selecting the enter key and focus was in a text field. For example, on the Financial Analysis page, there is one asset entered. Within a liability, if enter was selected after entering a value into the Creditor field, the asset would have been removed. On the collateral details page, seller information is available for all collateral location states on Mobile Home (Personal Property/Residence) collateral. Previously it was only collected for the states of MI, NE, TX, WA, and WI. The Interest Rate Rounding is no longer being applied twice to the Initial Rate, for variable rate transactions with a discount or a premium rate. For existing transactions, review, calculate and recreate the documents if necessary. Previously, if a problem occurred when loading data in a table (such as Fees or Escrow) an error message displayed on the page in the area related to this issue. In some cases, a processing message was in front of the error message preventing the entire error message from being displayed. This processing message has been removed and the error message alerting you to refresh the page will be visible. On the Closing Disclosure page, when a closing adjustment is added with an Integrated Disclosure Section of ‘Paid Already by or on Behalf of Borrower at Closing’, an Integrated Disclosure Subsection of ‘Items Paid Already By or For Borrower Pre Seller Credit Line’, and a When Paid of ‘At Closing,’ the amount is now included in Adjustments and Other Credits row of the Calculating Cash to Close table on the Closing Disclosure. For existing transactions, review, calculate and recreate the documents if necessary. For additional information, refer to the question, How are Adjustments and Other Credits determined on the Closing Disclosure? o the Calculations/Loan Estimate and Closing Disclosure page in help. On the Document Data page, the Escrow Item Waived selection saves on the Escrow Waiver Notice. On the Document Data page, on the Uniform Underwriting and Transmittal Summary the Investor Loan Identifier can now be entered in the Investor section for new and existing transactions. On the Loan Estimate and Closing Disclosure, the Loan Terms section, Principal and Interest row has been updated for interest only, non-construction, variable rate transactions. The ‘Includes only interest and no principal until’ bullet has been updated to include the timing of the last interest only payment. Prior to this change, this bullet included the timing of the first adjustment in the periodic payment based on the interest rate. For existing transactions, review, calculate and recreate the documents if necessary. On the Loan Estimate and Closing Disclosure, we have corrected an issue with the Projected Payments Table. This change affects construction with permanent financing transactions with a fixed rate in the construction phase and a variable rate in the permanent phase where the Number of Interest Payments is less than 12 months and the Initial Rate Hold Term is greater than 12 months. For existing transactions, review, calculate and recreate documents if necessary. The total for K. Due from Borrower at Closing within the Summaries of Transaction section of the Closing Disclosure has been updated to address the following: Fees that were Paid by borrower and POC were included in the K. Due from Borrower at Closing total but should not have been included. A negative Prepaid Odd Days Interest amount (i.e. interest credit) was not included in the K. Due from Borrower at Closing total when it should have been. For existing transactions, review, calculate and recreate the documents if necessary. For transactions with USDA Mortgage Insurance Applies and no other escrow items, the Escrow Account Disclosure was not selected correctly and the Escrow Account checkbox (will have an escrow account) was not selected correctly on the Closing Disclosure. Both issues have been corrected. For existing transactions, review, calculate and recreate the documents if necessary. When the Rate Lock Agreement is selected in the application phase, the origination charges and lender credits will now print in the Lock In Option section of the document. Prior to this change, the origination charges would only appear after visiting the closing phase. Existing transactions have been updated so that the origination charges and lender credits will now appear when viewing the Rate Lock Agreement in the application phase. The Revised Closing Disclosure Cover Letter has been updated so that the Previous Issued Date prints to the document. Previously, the date entered under the Integrated Disclosure Details - Loan Estimate section on the Document Data page printed to the Revised Closing Disclosure Cover Letter instead of the Previous Issued Date from the Integrated Disclosure Details - Closing Disclosure section. Prior to this release you could fill out and print the Revised Loan Estimate Cover Letter from the processing package. With the change to fix the Revised Closing Disclosure Cover Letter the Issue Date and Previous Issued Date are no longer available in the processing package for the Revised Loan Estimate Cover Letter. It is recommended to use the Revised Loan Estimate Cover Letter from the application phase to be able to fill out those dates. The Uniform Underwriting and Transmittal Summary has been updated so that amounts entered under the Monthly Housing Expenses section of the Calculations page are not counted more than once for transactions with more than one Borrower or Co-Signer. A validation warning on the Print page has been corrected to no longer include escrow items as part of the 30 fee limit. Prior to the change, you would receive the warning ‘The number of fees entered can be no more than 30. Prepaid odd days interest, escrow items, and prepaid mortgage insurance are not included in the 30 fee limit.’ even though the number of entered fees did not exceed the 30 fee limit due to the inclusion of escrow fees in this limit. The validation warning indicating ‘Must be greater than 1’ for the Number of Interest Payments on a construction with permanent financing transaction is no longer presented. The validation warning will still be presented if ‘1’ is entered for the Number of Payments on a construction with permanent financing transaction. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality For the Fannie Mae Desktop Underwriter interface, when sending a construction permanent transaction the term being sent will be for the permanent phase. Previously, the construction and permanent term were added together and sent to the interface. The Fannie Mae Desktop Underwriter and Freddie Mac Loan Product Advisor interfaces have been updated to evaluate for missing collateral sales price on purchase transactions only and not on refinance transactions. The ULDD interface has been updated with the new and revised data capture required by Fannie Mae in support of the expanded ULDD requirements effective June 27, 2016. Fannie Mae will accept these changes now.
04/05/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features The product supports interest only non-construction variable rate transactions. Updates to Existing Functionality On the Loan Definition page under General Information, Number of Tax Forms Requested has been added for you to indicate how many tax forms (1 through 7) you want available on the Document Data page for purposes of generating the Request for Transcript of Tax Return 4506T. Previously, all transactions had seven tax forms available on the Document Data page. Existing transactions will have Number of Tax Forms Requested set to ‘7’. For additional information, refer to the question 'What is the purpose of the Number of Tax Forms requested option?' on the Loan Definition page in help. The Seller section on the collateral details page has been updated to display when appropriate in the closing phase. For additional information, refer to the question When is the Sellers section on the Collateral Details page available in the closing phase of a transaction? on the Collateral page in help. Previously, if a problem occurred when loading data in a table (such as Escrow or Liabilities), you were redirected to the ‘Sorry page unavailable’ error. Now, the error message displays on the page in the area related to the issue so you have more information about the error. You will also be alerted to refresh the page to have the most current information. Balloon transactions with a Final Balloon Payment Amount defined, correctly disclose the number of columns for the projected payments. Previously, it was disclosing Year 1 and Final Payment column headings. For existing transactions, review, calculate and recreate the documents if necessary. The following changes have been made for transactions with fees Paid By Lender with a Section of Taxes and Other Government Fees. On the Loan Estimate, Lender Credits and Total Closing Costs (J) have been updated to include lender-paid charges disclosed in Section E. Taxes and Other Government Fees, if applicable. Prior to this change, lender-paid charges disclosed either as Recording Fees and Other Taxes, or as Transfer Taxes, were not included on the Lender Credits line and Total Closing Costs (J), or the corresponding values in Costs at Closing. On the Calculations page under the Comparison of Loan Estimate and Closing Disclosure Fees, the Estimate Amount listed in Lender Credits that Cannot Decrease now includes fees that are Paid By Lender with a Section of Taxes and Other Government Fees. Prior to this change, fees that met the above criteria were not included in the Estimate Amount which caused ‘Exceeded’ not to appear under Tolerance when the fees decreased. The Calculating Cash to Close table of the Closing Disclosure will now correctly reflect a decrease in Lender Credits (and the ‘Increase exceeds legal limits by [amount of excess]’ statement) when fees Paid By Lender with a Section of Taxes and Other Government Fees decreased from the Loan Estimate to the Closing Disclosure. Prior to this change, the ‘Increase exceeds legal limits [amount of excess]’ bullet was not present or was incorrect. On the Closing Disclosure, when ‘Settlement service charge excess refunded’ is selected on the Document Data page, the Costs at Closing and Lender Credits line in Closing Cost Details will now correctly include any excess for fees Paid by Lender with a Section of Taxes and Other Government Fees. Total Closing Costs (J) (Borrower-Paid) will reflect the correct amount of the refund for fees Paid by Lender with a Section of Taxes and Other Government Fees. Total Closing Costs (J) and Lender Credits in Costs at Closing, as well as Cash to Close are now correct. For existing transactions, review, calculate and recreate the documents if necessary. For additional information, refer to the question What do the lender credits represent on the Loan Estimate and Closing Disclosure? on the Calculations/Loan Estimate and Closing Disclosure page in help. If escrow items exist on the transaction and the repayment method is changed to interest only those escrow items and any system generated escrow fees will be removed because escrow is not supported on interest only transactions. On the Document Data page under the Section section, for documents like Manufactured Housing Title Application, Motor Vehicle Power of Attorney, Motor Vehicle Notice Of Lien-FL, and Power Of Attorney Titled Goods, when applicable, Mobile Home (Personal Property Residence) data (for example, seal number, weight, length, etc) can now be entered. The Request for Transcript of Tax Return 4506T has been enhanced. On the Document Data page, multiple options can be selected on the document in section 6 Transcript requested, section 7 Verification of Nonfiling, and section 8 Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript. In section 9, all four Year or period requested fields are available for entry on the document. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Fannie Mae 3.2 interface was updated to import the Down Payment Funds type of Gift Funds which eliminates the error previously received. The Fannie Mae 3.2 and standard import can import collateral information. The Mortgagebot interface can import fee information. The following updates have been made to the HMDA Wiz interface: Income amounts of $0.00 will default as NA when passed to HMDA Wiz. The total income for all borrowers will be included in the calculations for Gross Annual Income. Applicant and co-applicant names will display on the HMDA Preview Report. The following special characters are supported for the HMDA Wiz password: ` ~ ! @ # $ % ^ & * ( ) - _ = + [ { ] } \ \| ; : ' " , < . > / ? For the Wiz Sentinel interface, the Monthly DTI (Debt to Income Ratio) and Monthly Residual Income checkboxes now save, reducing duplicate data entry in subsequent submissions to the interface. For the ULDD interface, any liabilities set as Exclude or Payoff will not be included in the calculation for the debt-to-income ratio.
03/22/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features Within Administration, you can setup a calculations policy to default in Interest Only as a repayment method. When this policy is used at transaction time, it will only apply the Interest Only repayment method for valid transaction types. For example, on a construction with permanent financing these settings would only apply to the first phase of the transaction. Updates to Existing Functionality We have updated the program so that notary data no longer is missing on transactions that originated in either ComplianceOne lending or ARTA Lending and are transferred into ComplianceOne mortgage. When a Liability Type of Other Housing Expense is added to the Financial Analysis page, the amount entered defaults to Other in the Monthly Housing Expense section on the Calculations page. Previously, even though the Other value was not changed on the Calculations page, any updates made on the Financial Analysis page were not redefaulting to the Calculations page. This has been fixed for new transactions. Existing transactions will need to be updated manually on the Calculations page any time you change Other Housing Expense liabilities on the Financial Analysis page. For transactions with a quarterly payment frequency and PMI Applies, the Escrow Account Disclosure was selected incorrectly and the Escrow Account checkbox (will have an escrow account) was selected incorrectly on the Closing Disclosure. Both issues have been corrected. For existing transactions, review, calculate and recreate the documents if necessary. For Every Other Week fixed rate transactions with Prepaid PMI, the Cancellation and Termination Dates on the Private Mortgage Insurance Disclosure were incorrect and have been corrected. For existing transactions, review, calculate and recreate the documents if necessary. The amortization schedule for variable rate transactions will now include the rate applicable to each payment. Prior to this change the rate change was reflected only on the payment on which it occurred. For transactions with a Trust as a seller, the Trustee Unique ID has been hidden on the Document Data page to prevent data entry errors. The functionality for the First Change field in the Limits on Interest Rate Changes section of the Adjustable Interest Rate (AIR) Table on the Loan Estimate and Closing Disclosure has been updated for loans that have Periodic Rate Caps set to 'Do not apply'. The value would previously say 'unlimited' and will now show the difference between the Ceiling and the Floor. If a Floor was not entered, then the difference between the Ceiling and the Margin will be used. For existing transactions, review, calculate and recreate the documents if necessary. Within the Document Data page on the Mortgage and Deed of Trust documents the indicators for triggering language in the Escrow for Taxes and Insurance section Escrow Account Established and Escrow Account Terms Separate Document have been moved from the Transaction Data section to the Collateral section. This change was made so you can make these determinations for each piece of collateral. Existing transactions that had these indicators set under Transaction Data will now see these indicators set under Collateral for any real estate collateral on the transaction. For Fannie Mae 3522, 3526 or 3528 transactions, the Margin prints as the lowest rate that can apply within section (D) Limits on Interest Rate Changes on the Note and Rider documents. This change has been made in accordance with the Selling Guide Announcement SEL-2015-12. On the Document Data page, the Employee Badge ID within the Current Employer and Previous Employer sections on the Request for Verification of Employment document is saving. The document is selected within the Closing phase of the transaction. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality With the core interfaces, days to maturity is now passed to the interface.
03/01/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features There are no new features with this release. Updates to Existing Functionality On the Financial Analysis page in the Liabilities section, 'Ground Rent' and 'Leasehold Payment' were added as liability types. On the Calculations page in the Monthly Housing Expenses section, the Payment Amount entered for Ground Rent and/or Leasehold Payment liability types defaults to the Lease/Ground Rent [L] line. The Payment Amount entered for a Rent liability type no longer defaults to the Lease/Ground Rent [L] line. On the Financial Analysis page when you add a liability, the Exclude checkbox has been replaced with a list of options; 'blank', 'Exclude' and 'Exclude from Debt Ratio'. When the 'Exclude from Debt Ratio' option is selected the Payment Amount and Outstanding Balance will be excluded from the calculated totals within the Liabilities section on the Financial Analysis page and on the Uniform Residential Loan Application. The individual liabilities will still appear on page 2, section VI Assets and Liabilities on the Uniform Residential Loan Application without the amounts. For additional information, refer to the question How does the Exclude column for a liability impact the documents?? on the Financial Analysis page in help. On the Loan Definition page, under the General Information section the Organization Contact, Document Preparer, Document Return to - UCC and Document Return to - Mortgage/Deed of Trust have been updated to refresh and display only the values associated to the selected Organization. There was an issue when you would change the organization, scroll down to the General Information section and hit refresh on one of the contacts and the list would contain contacts from both organizations, the newly selected organization and the original organization. On a variable rate transaction with a Payment Frequency of Every Other Week the frequency for the initial rate hold term has been updated so on documents such as the Adjustable Rate Mortgage Program Disclosure the description of the rate hold period for the variable rate will now print 'two week period' instead of 'weeks'. For example, if your Initial Rate Hold Term is 12 payments, it will print as '12 two week periods' instead of '24 weeks'. For existing transactions, review, calculate and recreate documents if necessary. On the Document Data page, within the Uniform Underwriting and Transmittal Summary the option to select ‘Base Income Not Include Overtime Bonus And Commission’ was added. For additional information, refer to the question How do I indicate that overtime, bonus, and commission income should be included as ‘Other Income’ on the Uniform Underwriting and Transmittal Summary within the III Underwriting Information section? on the Document Data/Document Specific page in help. On the Document Data page, within the Uniform Residential Loan Application document, you can enter the Year Acquired under the ‘Complete this line if construction or construction-permanent loan’ or ‘Complete this line if this is a refinance loan’ sections in the yyyy format. Existing transactions with the Uniform Residential Loan Application and either of these two fields filled out will be updated with the 4 digit year versus the full date The same sections on the Universal Credit Application Real Estate document continue to require the Date Collateral Acquired in a mm/dd/yyyy format. A validation notice on the Print page has been added to communicate when switching between the application phase and the closing phase the only data saved per phase would be the fees. The new notice is 'With the exception of fees you added using +Fee or by selecting a template, only the most recent changes to the transaction data are retained (e.g. loan amount, rates, dates, escrow) regardless of which phase the data was modified in.' For construction with permanent financing transactions with a fixed rate in the construction phase and variable rate in the permanent phase, the following validation warning displays on the Print page when appropriate: 'You have entered a ceiling that is greater than the maximum possible rate that can be reached on this transaction.' This validation warning did not previously appear for these transactions. For construction with permanent financing transactions with a fixed rate in the construction phase, a variable rate in the permanent phase, and an interest only period not evenly divisible by 12, the month when the maximum payment would occur was incorrect in the $10,000 example paragraph on the Adjustable Rate Mortgage Program Disclosure. This has been corrected. On the Adjustable Rate Mortgage Program Disclosure in the $10,000 example paragraph, the month the maximum payment would occur was previously incorrect when generating the document in the Closing Phase. Changes were made so the month is correct. For Fannie Mae and Freddie Mac variable rate transactions, the year when the maximum payment would occur was incorrect in the $10,000 example paragraph on the Adjustable Rate Mortgage Disclosure. This has been corrected. When a refund for tolerance cure is provided at the time the Closing Disclosure is issued for transactions without sellers, Closing Costs Financed (Paid From your Loan Amount) will no longer print a negative amount when a negative number results from the calculation used to determine the maximum that can print in this field. In these cases, $0 will print. For additional information, refer to the question How is Closing Costs Financed (Paid from your Loan Amount) determined? ion the Calculations/Loan Estimate and Closing Disclosure page in help. On the Loan Estimate and Closing Disclosure, we have corrected an issue with the mortgage insurance amount in the Projected Payments table where PMI termination was disclosed. Prior to the change, in some situations, the mortgage insurance amount was not the maximum amount corresponding to the range of payments disclosed in the same column. Affected transactions include variable rate loans with declining PMI where, based on informal guidance from the CFPB, a four-column Projected Payments table is disclosed in cases where the ceiling and the floor, along with the minimum and maximum payments, are reached during the initial period. What's New for Interfaces New Features When reissuing an existing credit report, the credit interface allows you to identify if it should be a 'Consumer' or 'Mortgage' pull. Updates to Existing Functionality For any core interfaces passing escrow data, an issue with passing the correct escrow payment amount and payment date has been fixed. The amount and date seen on the Calculations page under the Escrow section will be passed to the core interfaces. The ULDD interface has been updated to fix an issue with the rounding on the Qualifying Income Amount. The same rounding rules apply to the Qualifying Income Amount and the Total Monthly Income Amount.
02/16/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List New Features There are no new features with this release. Updates to Existing Functionality On the Financial Analysis page when you add a Monthly Income with a Type of Other the Subject to Property Net Cash Flow checkbox is no longer available. A new Monthly Income Type called 'Subject Property Positive Cash Flow' will be available instead. The amount entered will appear in the Positive Cash Flow fields on the 1008 Transmittal Summary and in the Other Income fields on the 1003 URLA application documents. Existing transactions that had a Monthly Income with a Type of Other and the Subject to Property Net Cash Flow selected was converted to the new Monthly Income Type 'Subject Property Positive Cash Flow'. On the Financial Analysis page, an option was added to indicate that additional parties income should be included in the total for qualifying income on the Transmittal Summary. On the Loan Definition page the option of None has been removed from Construction Type and has been replaced with a blank option. Any existing transactions where the Construction Type was set to None will state that they have been modified by the system because they have been updated with the blank option. Transactions with odd days that have a 30/360 accrual and 30/360 first period accrual will show a date range for the prepaid interest that consists of the funding date as the beginning date and the end date of the range being one period prior to the first payment date. In order to see these updated date ranges, you will need to go into the transaction and calculate. The amount of the Non-Standard Monthly Payment for the refinance non-standard to standard exemption to the Ability to Repay requirements has been updated to exclude fees where Collect As is Add To Amount Requested and to exclude the effect of odd days. For existing transactions, review, calculate and rerun the ATR/HOEPA/HPML/QM determination if necessary. When the Loan Estimate amount and the Final amount for the Total Closing Costs (J) row of the Calculating Cash to Close table on the Closing Disclosure are different, the 'Did this change' column will include ‘Total Loan Costs (D)’, ‘Total Other Costs (I)’, or ‘Total Loan Costs (D) and Total Other Costs (I)’ as needed based on the section of the document where the change occurred, no longer requiring you to complete this on the Document Data page. To update this bullet on Calculating Cash to Close on transactions created prior to this change, click Calculate on the Calculations page. For example: When the Loan Estimate amount and the Final amount for the Total Closing Costs (J) row of the Calculating Cash to Close table on the Closing Disclosure are different due to the aggregate adjustment on an escrow account, the 'Did this change' column includes the bullet 'See Total Other Costs (I)'. For a transaction which includes an escrow account with aggregate adjustment as well as lender paid fees, the 'Did this change' column includes the bullet 'See Total Other Costs (I)'. Prior to this change, the bullet included 'See Total Loan Costs (D)' and did not save the change made on the Document Data page. The Estimate Amount listed in Taxes and Other Government Fees that Cannot Increase within the Comparison of Loan Estimate and Closing Disclosure Fees section of the Calculations page no longer includes fees that are Paid By Borrower, Seller, or Other with a Section of Taxes and Other Government Fees, where Transfer Taxes is selected and Payment Attributable to Borrower is not selected. For fees that meet the above criteria, the ‘Increase exceeds legal limits’ bullet will now be included in the Cash to Close section on the Closing Disclosure when appropriate. Prior to this change, fees paid by Borrower, Seller, or Other that had the above criteria were included in the Estimate Amount, causing these fees to be disclosed on the Closing Disclosure but not the Loan Estimate. For tolerance purposes, these fees should not be used for the tolerance comparison since they did not show up on the Loan Estimate. On the Adjustable Rate Mortgage Program Disclosure and Uniform Residential Loan Application documents, the Describes the program being used for a variable rate loan description is available for you to change the default value. The Signature Name Affidavit document is now available for a Borrower, Cosigner, Guarantor, and Owner that is a Trust and you can enter up to two alias names for each Trustee of the Trust on the Document Data page. On the Document Data page, within the Uniform Residential Loan Application and the Universal Credit Application Real Estate documents under the Declarations section, lines m (1) and m (2), you can now select any combination of Ownership Interest Type and Ownership Interest Title Type. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality The Mortgagebot interface has been updated to pass additional fields to ComplianceOne mortgage, including lien priority, collateral county, application date, and occupancy type. The Kroll Factual Data credit interface has been updated, if you have separate client codes for consumer credit pulls and mortgage credit pulls, when pulling a consumer credit report for the first time, an error “Access denied For Office and Client Code….” has been fixed. The ULDD interface has been updated to pass all 9 digits of the postal code for the collateral location, when provided.
02/02/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List The product supports construction with permanent financing transactions with a fixed rate in the construction phase and variable rate in the permanent phase. To enable this type of transaction, within Administration on the Calculations Policy page, Define interest rates separately for each phase of a two phase loan must be selected under the Loan Phases section. The product supports non-construction purchase money transactions that result in Funds for Borrower greater than $0.00 due to the Loan Amount exceeding the disbursements (ex. Sales Price and any other disbursements). See the Calculations section of help for additional information. If income for two borrowers was included on the Financial Analysis page, Monthly Income, Other and you moved from the page and returned, an additional instance would be duplicated in the Other section and this would be printed on the URLA. This has been corrected and the duplication no longer occurs. On purchase money transactions, the sum of the Sales Price entered for each real estate collateral and mobile home collateral is no longer automatically used for the calculation of Down Payment/Funds from Borrower or Funds for Borrower on the Loan Estimate. This was changed to allow you more control over the Down Payment/Funds from Borrower and Funds for Borrower calculations. You will be expected to enter the sum of the Sales Prices entered for each collateral,plus any other disbursements that are not disclosed in total closing costs, into the Total Existing Debt Being Satisfied in the Cash to Close section on the Calculations page. For existing transactions, review/update the Cash to Close section on the Calculations page, calculate, and recreate documents, if necessary, to update the Down Payment/Funds from Borrower and Funds for Borrower calculations. See the Calculations section of help for additional information on Down Payment/Funds from Borrower, Funds for Borrower and Total Existing Debt Being Satisfied. For variable rate, every other week transactions, the warning ‘Initial Rate Hold Term must be less than the number of payments’ will no longer appear in cases where it should not be. The Calculation Results are now provided for transactions with quarterly interest only payments when the first payment date is on May 30, 2016. The calculated value for prepaid interest when the days between the funding date and the first payment date are less than one period (that is, a short days scenario) is now printing on the Loan Estimate and the Closing Disclosure and is correctly factored into calculations. For example, section F. Prepaids of the Loan Estimate and the Closing Disclosure, as well as the Calculation Results section on the Calculations page, now disclose the correct amount of the short days interest. Prior to this change, the Prepay Odd Days selection would not hold in this scenario, and the transaction was calculated as if the short days interest was not credited at closing. In order to see these updates, existing transaction will need to be recalculated. Within Administration and on the Fee Details page in a transaction, the Lender's Title Insurance and Owner's Title Insurance fees have been added to the list of fees to choose from. On the Fee Details page, the Variance Type will have the possible values of blank, 0% and 10% regardless if the fee is added during the application or the closing phase. There are two exceptions to this fees paid by the lender and the Homeowner's Insurance fee will be set to blank and read-only. Fees within the E. Taxes and Other Government Fees Other Costs section of the Loan Estimate ending in exactly $.50 have been updated to round up and therefore the amounts in J. TOTAL CLOSING COSTS and the amount in Total Closing Costs (J) are now equal. It was noted that when a fee was set as 'Other' in Paid By in Fee Details on the Calculations page, it was being exported as paid by 'Lender.' It now exports properly as paid by ‘Other’. The Loan Terms section of the Loan Estimate and the Closing Disclosure has been updated to more closely follow the requirements for disclosing subsequent adjustments in the interest rate and periodic payment for variable rate transactions. Specifically, the Interest Rate and [Periodic] Principal and Interest rows disclose adjustments after consummation in the 'Can this amount increase after Closing?' column. Subsequent adjustments in the interest rate and periodic payment are described using the phrase, 'Adjusts every' (e.g., 'Adjusts every 3 years'). The frequency description has been revised to use years, months, or units more frequent than months, per recent verbal, non-binding guidance from the CFPB. Prior to this change, the product disclosed the actual subsequent frequency for the transaction (e.g., 'Adjusts every 36 months' for a loan with monthly payments adjusting every 36 payments after the initial change). Based on the clarification, the rules for disclosing subsequent frequency have been updated to convert the actual frequency into appropriate units, as applicable (e.g., 'Adjusts every 3 years' in the above example). This approach more closely follows the Official Staff Commentary to Regulation Z, which provides guidance for disclosing adjustments after consummation. [12 C.F.R. §1026.37; Comments 37(b)(6)-1 and 37(b)(8)-1] For existing transactions, review, calculate and recreate documents if necessary. In transactions without sellers, on the Closing Disclosure, when a refund for tolerance cure is provided at closing, we are now correctly determining Closing Costs Financed (Paid from your Loan Amount). Previously, the refund was incorrectly double counted when determining the amount that prints for Closing Costs Financed (Paid from your Loan Amount). See the Calculations section of help for additional information. The ‘Refinancing by a Different Lender or Origination of a New Rescindable Loan’ version of the Notice of Right of Rescission document is available on the Document Data page when changing a refinance with same lender transaction to a new transaction. Previously, the ‘For Refinance with Original Creditor’ version of the Notice of Right of Rescission was being incorrectly selected. On the Uniform Residential Loan Application and the Universal Credit Application Real Estate documents, e. Estimated prepaid items, f. Estimated closing costs, g. PMI, MIP, Funding Fee, h. Discount (if Borrower/Applicant will pay), k. Borrower's/Applicant's closing costs paid by Seller and n. PMI, MIP, Funding Fee financed have been opened up for you to change the default values. On the Verbal Verification of Employment document, Employment Type saves when entered in the Current Employer section. What's New for Interfaces The product supports the Mortgagebot interface. You are able to import a transaction that was started in Mortgagebot. Fees are unable to be imported at this time, and will be available in a future release. The interface is accessible within the transaction by using the Import menu option once it has been setup within Interface Manager. If you do not have access to the interface please contact your Wolters Kluwer Financial Services Account Executive for more details. With the core interfaces, maximum and minimum late charge amounts, whether negative amortization applies or not and payment frequencies of quarterly and every other week now populate correctly to the interface. On the credit interface, co-applicants will default as joint credit lookups. You will have the ability to remove this link if you do not want to do a joint lookup. The Loan Product Advisor interface has a section for Borrower addresses. It will list the current and, if available, prior address. Each address will be displayed and you will be allowed to enter the Own/Rent/Living Rent Free, Number of Years, and Number of Months. On the flood interface, Loan Number from the Loan Definition page flows to the interface to be included on the Standard Flood Hazard Form. The Section 32/HOEPA APR will now be correctly submitted for purposes of the Section 32/HOEPA APR threshold determination for fixed rate construction loans with permanent financing. Prior to this change, this calculated item was inadvertently not submitted or considered as part of the HOEPA determination for these loans. Section 32 (Actual APR) on the report was 0.000% as a result, and any difference (indicating whether the threshold has been exceeded) was not being determined. Any existing loans will need to be recalculated for the Section 32/HOEPA APR value to be available, and to be considered in the HOEPA threshold determination.
01/12/2016	What's New for ComplianceOne® mortgage Click to review What's new with the Documents Click to review the Document List On the Loan Definition page, duplicate document policies are no longer present. This was previously occurring when there was more than one Document Policy in Administration with the same name, one of those policies was used in a template, and the template was selected in a transaction. Within Administration you can set the Payment Attributable To Borrower on fees to be used at transaction time. When a fee is paid by the lender the Variance Type is set to blank. If using a template with fees paid by the lender and the Variance Type is other than blank, the Variance Type chosen in the template will be ignored and set to blank in the transaction. See the Calculations help page for additional information. The Closing Amount listed in Lender Credits that Cannot Decrease within the Comparison of Loan Estimate and Closing Disclosure Fees section of the Calculations page now includes fees that are Paid By Lender with a Section of Taxes and Other Government Fees, and Transfer Taxes and Payment Attributable to Borrower are selected. Prior to this change, fees paid by lender that had the above criteria were not included in the Closing Amount, causing the Tolerance to be Exceeded on the Calculations page and the ‘Increase exceeds legal limits’ bullet to be included in the Cash to Close section on the Closing Disclosure even when the fee amount was not decreased. The Affidavit Section 22-NY document has been updated to identify costs of improvement. When adding other charges outside of the predefined list, itemize the fees and their amounts in the User Defined Cost field and enter the sum of the user defined fees into the Amount of Cost. On existing transactions, to enter costs of improvement make a change to the collateral located in NY, save and go to the Affidavit Section 22-NY document on the Document Data page. On the ARM Early Disclosure when there is a discounted initial rate the amount the interest rate can increase is determined using the initial rate instead of the market rate. The Consumer Note has been revised to allow an alternate version of this document that excludes checkboxes and language based upon the specific characteristics of the transaction. The alternate version of the Consumer Note is available when Use the alternate version of the document(s) where checkboxes and inapplicable content have been removed. is selected within a Document Policy from Administration. A signature line for the general contractor signer has been added to the Builders and Mechanics Lien Contract (TX) document for construction transactions ('Construction Only' or 'Construction and Permanent Note' is selected on the Loan Definition page) with collateral located in Texas. In the closing phase when you generate the Builders and Mechanics Lien Contract (TX) document, on the Document Data page you can set your general contractor to an entity (non-individual) and enter their name and title. USDA has limitations on the use of loan proceeds. Lenders are responsible for adhering to program requirements. As a result, the existing USDA validation notice has been replaced with a new notice. Previous validation notice: ‘Your USDA Loan to Value ratio is greater than 100%. The amount that can be financed in excess of the allowable LTV can ONLY be attributed to an appraisal fee, a tax service fee, and the initial contribution to escrow.' New validation notice: ‘USDA limits the use of loan proceeds to eligible purposes and costs up to the maximum loan amount. Lender is responsible for ensuring only eligible items have been added to amount financed.’ What's New for Interfaces On construction fixed rate transactions, the HMDA LAR has been updated to reflect a fixed rate instead of variable rate.

December 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Functionality

There are no new features with this release.

Updates to Existing Functionality

The Housing Counseling Agencies Notice will now be based on the postal code of the mailing address. If the mailing address postal code is not entered and Mailing Address is the same as Physical Address is not selected, agencies will not print on Housing Counseling Agencies Notice. The Housing Counseling Agencies Notice previously used the postal code of the physical street address.
On the Financial Analysis page, when a credit report is pulled from an interface and the results comes back with no credit score or a 0 credit score, Score Not Available will be selected. For existing transactions, review and recreate documents if necessary.
On the Financial Analysis page, changes made to Liabilities are now saving. Previously, changes made to Liabilities were not saving when the transaction had a Real Estate Owned item where the Property Status was not blank.
On the collateral details page for collateral located in New Mexico, you can choose to use a Deed of Trust instead of a Mortgage and enter in the Trustees. For collateral located in Idaho, Montana and Washington you can choose to use a Mortgage instead of a Deed of Trust. Previously, these questions were asked on the Document Data page.
On the Calculations page under the Terms of Loan section, when the amount of Prepaid Odd Days Interest is negative, POC is no longer available. For existing transactions with negative Prepaid Odd Days Interest, POC will be unselected.
The calculations have been updated to successfully calculate the transaction when the Prepaid Odd Days Interest amount was originally greater than the loan amount and the Funding Date was changed. For example, if you inadvertently entered a Funding Date of 07/01/1016, calculated, and then changed the Funding Date to 07/01/2016, previously the calculations would not complete.
On the Calculations page under the Fees section, you can remove more than one fee at a time. The first column is a checkbox used to select which fees you would like to remove. The column heading 'Remove' allows you to either select or unselect all fees in the list. Only fees added in the phase you are working in are allowed to be removed. If you added fees during the application phase, you cannot remove them while in the closing phase. The checkboxes will be hidden on fees that were created in a different phase or are considered system-generated such as Prepaid Interest or Mortgage Insurance. Once you have selected a fee for removal the 'X' button will appear next to the '+ Fee' button.
A link to the online help has been added to the Closing Disclosure page within a transaction.
The Product field that prints on the Loan Estimate and Closing Disclosure has been updated to no longer display trailing zeros for interest only transactions. If there is a zero in the hundredth place, that value will be truncated and just the tenths place will print. Previously, if the Number of Interest Payments was 31 payments, the Product field would display '2.50 Year Interest Only'. With this change, '2.5 Year Interest Only' will now display.
The Loan Estimate will correctly display $0 in Section E. Taxes and Other Government Fees after deleting all fees on the Calculations page. Prior to the change, the fee total associated with section E. Taxes and Other Government Fees would still display on the Loan Estimate even after being deleted.
A phone number is now collected in Administration on the Addresses page for an alternate 'Payment Center' address and an alternate 'Address to return the organization's copy of the Mortgage Loan Commitment document'. Once your policy administrator adds the phone number you will see the phone number appear on the documents. For existing transactions, refresh the Organization data on the Loan Definition page.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Census Tract information is now being sent to the core provider.
The HMDA Wiz interface has been updated to print the party name for sole proprietor on the HMDA Wiz Report.
The Wiz Sentinel interface has been updated to print the party name for sole proprietor on the Wiz Sentinel Report.

November 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Functionality

The product supports non-residential real estate transactions. On the Collateral page, select + Other Collateral and under Real Estate select Non-Residential Real Estate.
Check out the Fees section on the Calculations page, it has been updated to allow you to edit some of the fee details directly on that page without having to go into each fee detail.

Updates to Existing Functionality

On the Financial Analysis page under the Real Estate Owned section:
- Exclude from Total has been added so you can identify if a real estate owned asset should be excluded from the totals that print on the credit application documents. If selected the real estate owned asset will not be included in totals on the Financial Analysis page or in totals on the Uniform Residential Loan Application (URLA) and Universal Credit Application Real Estate (UCA-RE) in the Schedule of Real Estate Owned section. For additional information, refer to the question: How does the Exclude column for a liability impact the documents? in the Financial Analysis section of Help.
- Property Status has been added so you can identify the status of each real estate owned asset. This was previously collected on the Uniform Residential Loan Application (URLA) or Universal Credit Application Real Estate (UCA-RE) in the Asset – Real Estate section within the Document Data page. The options are unchanged and include: O, PS, S, and R. For additional information, refer to the question: What do the Property Status options within the Real Estate Owned section represent? in the Financial Analysis section of Help.
When in the closing phase, on the Fee Details page the Paid By field no longer looks read-only.
On the Calculations page, we have corrected an issue which prevented the ability to charge a Trustee Fee, Assumption Fee, or Attorney Fee when it was permitted by Fannie Mae, Freddie Mac, or state law. As a result, the ability to apply these fees is now present on the Calculations page for the following types of transactions:
- Trustee Fee
  - All Fannie Mae and Freddie Mac transactions when the collateral state is Maryland, North Carolina, or District of Columbia. It was previously only available for the Fannie Mae and Freddie Mac 3200 product.
  - In-house transactions where MLA applies and the collateral state is Maryland, North Carolina, or District of Columbia.
- Assumption Fee
  - All Fannie Mae and Freddie Mac transactions when the collateral state is Nevada or Oklahoma.
  - In-house transactions where MLA applies and the collateral state is Nevada or Oklahoma.
  - In-House transactions when the collateral state is Nevada.
- Attorney Fee
  - All Fannie Mae and Freddie Mac transactions when the collateral state is Delaware.
  - In-house transactions where MLA applies and the collateral state is Delaware.
On the Calculations page, the Late Charge section has been updated so that the late charge policy information from Administration defaults into the transaction. Prior to this change, only the grace period was defaulting from Administration.
The Disbursements page has been updated to a table format to prepare for future Uniform Closing Dataset (UCD) changes. This new format is applicable to all transactions.
When doing an amortized balloon loan the initial balloon payment in the $10,000 example under How your Payment Can Change was showing the incorrect value. The value shown was the payment at the market rate. The initial balloon payment now reflects the balloon payment based on the initial rate.
On In-House variable rate transactions where the Initial Rate Subject to Floor is not selected on the Calculations page, the language ‘The initial premium feature of this ARM program is not taken into consideration in applying interest rate limitations’ will no longer print in the ‘How Your Payment Can Change' section of the Adjustable Rate Mortgage Program. This was previously printing in error.
On the Agreement to Provide Insurance document, Insurance Agency Name now saves. Previously, the Insurance Agency Name would not save if you viewed the collateral details page after entering the information on the Document Data page.
Two signature lines, instead of one, are now available on the Builders and Mechanics Lien Contract-TX and Builder’s And Mechanic’s Lien Contract With Right Of Rescission-TX documents for construction transactions (Construction Only or Construction and Permanent Note is selected on the Loan Definition page) with collateral located in Texas. In the closing phase, two Signer sections are available within Document Data to complete the General Contractor Signer Name and General Contractor Signer Title.
Two signature lines for the architect signer have been added to the Consent-Architects Contract Assignment document for Initial Construction transactions. In the closing phase when the Construction Professional Party Type is Entity within Document Data, two Signer sections are available to complete The name of the person signing on behalf of the entity and The title of the person signing on behalf of the entity.
Two signature lines for the general contractor signer have been added to the Consent-Construction Contract Assignment document for Initial Construction transactions. In the closing phase, two Signer sections are available within Document Data to complete the General Contractor Signer Name and General Contractor Signer Title.
The Manner Title Held has been added on the Document Data page for the Fannie Mae 1003 Freddie Mac 65 Uniform Residential Loan Application and Credit Application Real Estate documents to complete the 'Manner in which Title will be held' field. The Vesting Language is still available on the Document Data page for the Deed Of Trust Closed End and Mortgage Close End documents which allows you to have different information between the credit application and your Deed of Trust or Mortgage.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Jack Henry 20/20 interface has been updated to support mobile home collateral for residential and non-residential transactions. We have corrected the secondary data field “Transfer From Account” to properly display the debit account number.

October 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

Updates to Existing Functionality

The Source of Funds section is available on the Disbursements page when Type of Mortgage is In-house. In addition, when Type of Mortgage is Fannie Mae, Freddie Mac, FHA or In-house and Use Fannie Mae 1003 Freddie Mac 65 URLA is selected on the Document Data page, the Source of Funds information from the Disbursements page will print in the Source of Down Payment, Settlement Charges, and/or Subordinate Financing field on the Fannie Mae 1003 Freddie Mac 65 Uniform Residential Loan Application.
The Escrow Account Rolled Over on the Document Data page under the Note section has been removed because it is not supported. If previously selected, it would have stopped the Escrow Account Disclosure from being added to the document list.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The CRA Wiz Interface has been updated with expanded search functionality when retrieving records. You can now filter by date range and include previously retrieved records in your search.

September 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

The product supports transactions subject to the Military Lending Act secured by Raw Land. MLA transactions are first lien Raw Land loans with an installment repayment method and the option of a percent only late charge. With variable rate transactions, periodic caps are required and the interest rate rounding can be up, down or to the nearest.
- The following features are not supported when MLA Applies:
  - Trusts (as either the borrower or collateral owner), cosigners or guarantors
  - Construction Loans
  - Charging a returned payment fee
  - The General Interest Law – Home Equity Loan Act
  - Assumable loans with variable rates
The mandatory compliance date is 10/3/2016. Until the system date is 10/3/2016 or after, you will receive a validation warning indicating that the transaction is not supported until MLA effective date. For additional information refer to the following questions in Help:
- What is the purpose of MLA Applies?, What is the purpose of the MLA Covered Borrower link?, and Does the MLA rule provide safe harbor?in the Loan Definition section in Help.
- What fees are included in the MAPR? in the Calculations section of Help.
- How can I enter the toll free number on the Military Lending Act Statement of MAPR? in the Document Data/Specific Data section of Help.

Updates to Existing Functionality

On the Loan Definition page, Loan is Assumable can now be defaulted based on the Document Policy applied at transaction time. Review your document policies in Administration to determine if changes are needed. For existing transactions, Loan is Assumable will display as previously checked or unchecked. If you refresh a previously chosen Document Policy or select a new Document Policy on the Loan Definition page, review the Loan is Assumable option for possible changes. For additional information, refer to the question: ‘What is the purpose of the Assumable option? in the Loan Definition section of Help.
The Loan Officer address will now print in the Address row of the Lender column in the Contact Information table of the Closing Disclosure. The Loan Officer address is captured within Administration on the Contacts page and allows you to provide the location of the Loan Officer, if different from the organization address. It is recommended that you review the address entered in Administration for your Loan Officer contacts. If you wish to include the organization address in the Address row of the Lender column in the Contact Information table, the Loan Officer address should be removed from the Loan Officer contact in Administration. The Loan Officer address does not print to any other documents or used for any other purpose. For existing transactions, the organization address will continue to print unless you refresh a previously chosen Loan Officer or select a new Loan Officer on the Loan Definition page.

August 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

There are no new features with this release.

Updates to Existing Functionality

On the Calculations page, the Periodic Rate Caps has been disabled for Fannie Mae and Freddie Mac products where you cannot change the option and it must be 'Apply on a per adjustment basis'. (Fannie Mae 3502, 3522, 3522.44, 3526 and 3528) (Freddie Mac 3502, 5510 and 5531)
In some cases when deleting fees an error, 'unable to delete fee: undefined', may have been displayed on the Calculations page or the Home button and ComplianceOne header was duplicated. This has been fixed.
On the Calculations page, the Escrow section has been updated to save changes when you modify just the escrow frequency and not the amount. Prior to this change, the frequency would not save after calculating.
On FHA transactions where the Mortgage Insurance Collect As is Cash, the mortgage insurance premium is calculating on the mortgage term instead of 11 years. For existing transactions, review and recreate documents if necessary.
On the Calculations page, transactions with the Payment Frequency of Every Other Week, Quarterly or Annually, the Proposed First Mortgage amount no longer doubles when you select calculate.
On the Print page, a validation warning has been added to help communicate that the sum of the Prepaid PMI Number of Payments and the Escrow PMI Cushion must be less than 12.
The Print page has been updated so that the document list includes the correct number of instances of a document. Previously, when the transaction resulted in multiple instances of the same document only one instance was displayed when creating documents.
On the Deed Of Trust Closed End document you can enter up to two alias names for additional signatures when real estate collateral is located in the state of Texas and is not a homestead. For existing transactions that meet this criteria, you will need to go to the collateral details page and save the collateral in order for the alias names to be available on the Document Data page.
On the Closing Disclosure, there was an issue where the lender credit could be off by a penny under the Costs at Closing section compared to the value listed under the J. Total Closing Costs section. This has been fixed.
Within Document Data, on the Closing Disclosure and Loan Estimate, an Address section has been added to collect a Street Address Short Name and City Short Name to allow for a shortened or abbreviated Property address to print on the documents. If left blank, the Address and City from the first piece of collateral will print.
On the Loan Estimate and Closing Disclosure, the Loan Terms section, Principal and Interest row has been updated for construction with permanent financing transactions. The ‘Includes only interest and no principal until’ bullet has been updated to include the timing of the last interest only payment. Prior to this change, this bullet included the timing of the first principal and interest payment. For existing transactions, review, calculate and recreate the documents if necessary.
On the Loan Estimate, we have corrected an issue with the Projected Payments Table. This change affects construction with permanent financing transactions where the interest only period is not evenly divisible by 12 and there are escrowed items in the permanent financing phase. For existing transactions, review, calculate and recreate documents if necessary.
On the Fannie Mae 1003 (URLA) or Universal Credit Application (UCA) documents, the best format to use for entering the ages of dependents is a whole number then a comma and a space before entering the next age (i.e. 8, 10, 12). An error was displayed when the dependent's ages were not in this format (for example, 8,10,12 or 8 10 12) and you performed an Ability to Repay (ATR) check. The following can now be used; a comma, a space or slash ( / ) between the ages.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Fannie Mae 3.2 and MortgageBot interfaces have been updated to populate the appropriate employer Base Monthly Income amounts on the Parties Employer Information page when two current employers for a party are being imported.
The Freddie Mac Loan Product Advisor interface has been updated to only send the employment and summary containers when a current employer or previous employer has been provided.
The suffix of a party can be imported when using the Standard Import interface.

July 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

Four additional documents are available for you to access in your transactions:
- The First Payment Letter is available in the closing package when Include First Payment Letter Document is selected in the Transaction Data section on the Document Data page.
- The Occupancy Affidavit and Financial Status document is selected in the closing package when Type of Mortgage is Fannie Mae or Freddie Mac on the Loan Definition page and Owner’s Principal Dwelling is selected within collateral details.
- The Occupancy Agreement is available in the closing package when Select Occupancy Agreement is selected in the Transaction Data section on the Document Data page.
- The Title Insurance Disclosures document is available in the upfront package when:
  - a service provider has been entered in the Affiliated Business Arrangements section of the applicable document policy within Administration, and
  - Include the Title Insurance Disclosure is selected within the Transaction Data section on the Document Data page, and
  - Title Insurance Company Affiliate of Lender is selected within the RESPACBAServicer section on the Document Data page.

Updates to Existing Functionality

On the Loan Definition page, Same Lender with New Money has been added as a Refinancing option for Fannie Mae, Freddie Mac, and FHA transactions where the Purpose Type is No Cash-Out Refinance or Limited Cash-Out Refinance.
Within the collateral details of Mobile Home Personal Property/Residence located in states other than Michigan, Nebraska, Texas, Washington or Wisconsin, the seller information entered will save.
On the Loan Estimate and Closing Disclosure, the subtotals in Sections D, I, and J were updated in preparation of the upcoming implementation of the Uniform Closing Dataset (UCD) requirements issued by Fannie Mae and Freddie Mac. While the amounts of the subtotals were not changed, for existing In-house, Fannie Mae, Freddie Mac, and FHA transactions you will need to review, recalculate, and recreate documents in order for the subtotals in Sections D, I, and J to print. If you would like more information on UCD, please visit http://www.freddiemac.com/singlefamily/sell/ucd.html or https://www.fanniemae.com/singlefamily/uniform-closing-dataset.
On the Fee Details page, when a fee is saved in the Closing phase, Fee is not applied at Closing is not selected, and the fee has a $0.00 amount, a validation message will now display. A fee entered with an amount of $0.00 will not print to the Loan Estimate or Closing Disclosure and should not be included in the tolerance comparison. You will be reminded to select Fee is not applied at Closing to exclude the fee amount from comparison for tolerance purposes. If you continue without selecting Fee is not applied at Closing, a Warning will appear on the Print page, allowing you to return to the fee and make the necessary changes.
When selecting USDA Mortgage Insurance Applies on the Calculations page, the name of the upfront fee paid to USDA has changed from 'Mortgage Insurance' to a default of 'USDA Guarantee Fee'. You can modify the default value by updating the text in USDA Guarantee Fee Name in the Mortgage Insurance section. The name entered in USDA Guarantee Fee Name will be shown in the Fees, Calculation Results, and Comparison of Loan Estimate and Closing Disclosure Fees sections on the Calculations page. In addition, the name will print to documents such as the Loan Estimate and Closing Disclosure. For existing transactions, review and recreate documents if necessary.
For construction only fixed rate transactions the final payment is reflected in the Payment Stream Information section on the Loan Information Report as the total of principal and interest due instead of just an interest only payment. For existing transactions, review, calculate and recreate the documents if necessary.
On the Parties page, when an Individual is added as a Guarantor and Insider as well as Insider Type of Executive Officer have been selected in Party details, the Regulation O Addendum is selected and the guarantor name appears on the document.
When using Internet Explorer 9, you are able to create documents on the Print page when in the closing phase.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The credit interface has been updated to send the correct credentials to the interface when doing a reissue of a credit report. Previously, you may have seen an error 'Access Denied for Office and Client Code' because the consumer credentials were being sent for a mortgage pull and the mortgage credentials were being sent for a consumer pull.
The Fannie Mae 3.2 Import has been updated to correctly import a transaction with 2 or more instances of Title Holders (BorrowerNameOnPropertyTitleDescription 02C – in Fannie Mae 3.2 File).
The ULDD interface was updated to fix the issue where the Total Monthly Proposed Housing Expense Amount was greater than the Total Liabilities Monthly Payment Amount.
The Wiz Sentinel interface has a new parameter in Interface Manager, “State High Cost Test License”. This field can be used to indicate whether an account has this license as part of their Wiz Sentinel functionality, and it will be included in the Wiz Sentinel report requests.
The Wiz Sentinel interface has been updated to correctly exclude prepaid Escrow Mortgage Insurance from the Amount Financed that is passed to Wiz Sentinel.
The Wiz Sentinel interface has been updated to include Construction Type of Initial or Improvement to ensure that transactions with a Construction Type of Improvement are correctly evaluated for Section 32 tests.
The Customer Due Diligence (OneSumX) interface has been updated to properly pass the date of birth for all parties.

June 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

The processing package of documents has been added to the application phase of the workflow to help streamline your processes and provide you access to documents like the Details of Changed Circumstance. Processing documents can be printed without the need to complete all of the closing specific data that produce warnings in the closing phase (e.g. missing collateral seller, missing fee section).

Updates to Existing Functionality

Transactions transferred from ComplianceOne lending to ComplianceOne mortgage no longer require you to refresh the Document Policy on the Loan Definition page in order for the dynamic version of the documents to be selected. Document policies with Use the alternate version of the document(s) where checkboxes and inapplicable content have been removed selected now retain this selection and you no longer have to refresh the Document Policy within the transaction.
On the Financial Analysis page, when you pull credit, any liabilities with a zero Outstanding Balance will default to Exclude instead of blank. If this is not the correct option for the liability you can change to blank or Exclude from Debt Ratio.
Type of Mortgage options of Fannie Mae, Freddie Mac, and FHA are no longer available for transactions secured by Raw Land.
Within the collateral details of Mobile Home Personal Property/Residence, the Organization's Lien Position and Property Insurance Coverage Type, if applicable are now saving.
When the Disclose the final payment separately for installment loans is selected and the Calculations Interest Method Default is set to U.S. Rule in the calculation policy within Administration, you will now notice the balance at the end of the loan is zero and the interest total from the amortization schedule should match the interest portion of the Total Finance Charge on the Calculation Results.
Previously, the total for K. Due from Borrower At Closing within the Summaries of Transaction section of the Closing Disclosure included Adjustments for Items Paid by Seller in Advance regardless of the Paid By selection. This has been updated to include only those Adjustments for Items Paid by Seller in Advance when Paid By Seller.
The following state specific documents are selected in the Closing phase for transactions secured by Mobile Home (Personal Property Residence).
- Manufactured Housing Title Applications for the states of CA, MI, NE, TX, WA, and WI
- Motor Vehicle Power of Attorney for the states of AZ, DE, FL, MI, TN, and TX
- Motor Vehicle Notice Of Lien-FL
The Written List of Providers document no longer displays more fees than what is selected. For existing transactions, review, calculate and recreate the document if necessary.
For variable rate transactions with a Payment Frequency of Annually, the following validation warning displays on the Print page when appropriate: “You have entered a ceiling that is greater than the maximum possible rate that can be reached on this transaction.” This validation warning did not previously appear for these transactions.
The validation warning indicating 'Negative amortization is applicable to the transaction and is not supported' on the Print page has been corrected to no longer appear on construction loans when negative amortization does not apply.
During an update for a new release, if existing transactions require updates due to new or changed requirements, an item is included in Help - What's New and the transaction will be updated once it is opened. The Modified by on the Home page will reflect the user who first opened the transaction after an update. Prior to the June release affected transactions reflected the deployment date as the modified date and the modified by displayed 'System'.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Fannie Mae 3.2 Import has been updated to correctly accept employer names with special characters and values greater than $1 million in the following fields: Assets, Sales Price, Appraised Value, Market Value, Purchase Price, Down Payment, and Subordinate Financing.
- A short-term fix is being applied to correct the error that is presented when importing a transaction with 2 or more instances of Title Holders (BorrowerNameOnPropertyTitleDescription 02C – in the Fannie Mae 3.2 File). Only the first instance of this will be imported, additional title holders will need to be manually added after import. A long-term solution to import multiple instances of this field will be included in a future release.
The credit interfaces have been updated to save the credit report data if less than 3 credit scores are returned.
The flood interface will now pass the name of the processor who ordered the Flood Hazard Determination. It will print on the document when accessed in Settlement Services.
Within the CRA Wiz interface, the error that occurs due to special characters being entered into the interface fields has been corrected. This will no longer present when downloading the CRA Wiz report.
The CRA Wiz report will now correctly display “No Co-Applicant” in the Race section when there is no co-applicant on the transaction.
The HMDA Wiz interface has been updated to correctly pass borrower name to the HMDA report when the non-borrowing spouse name has been provided.
The Wiz Sentinel interface has been updated to stop passing fee totals equaling $0.00.

May 2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

The product supports construction only variable rate transactions.
On the Loan Definition page, you can indicate that you want the Notice of Right of Rescission on a No Cash Out or Limited Cash Out Refinance with Same Lender by selecting Principal Dwelling Added.
On the Loan Definition page, Loan is Assumable has been added for you to indicate that the transaction is assumable for the following types of transactions: In-house, Fannie Mae 3200, Freddie Mac 3200, Fannie Mae 3244.1 and Freddie Mac 3244.1. For existing transactions, review, update and recreate documents if necessary. For additional information, refer to the question ‘What is the purpose of the Assumable option?' on the Loan Definition page in help.
The payment frequency of Annually has been added for the following types of transactions:
- in-house, non-construction, fixed and variable rate installment and amortized balloon/balloon transactions
- in-house, non-construction, fixed rate interest only transactions
- in-house, fixed rate, construction only and construction with permanent financing transactions
Within Administration on the Calculations Policy page, Annually is now an option to be selected as a default value for the Payment Frequency.
On the Document Data page, you can select Within two years loan proceeds will be used to place a dwelling on the property in transactions secured by Raw Land. When this is selected, the Housing Counseling Agencies Notice-HE is selected and the collateral address prints on the document.
Within Document Data, on the Mortgages and Deeds of Trust you can add additional signature data for each piece of collateral applicable on the transaction. For existing transactions, you will need to visit the collateral details page and save prior to navigating to the Document Data page. For additional information, refer to the question Where can I enter the name of an individual who has an interest in the property without being an owner of the property? on the Document Data/Document Data page in help.

Updates to Existing Functionality

On the Party Details page under the Employment Information section, you can enter negative monthly income amounts for any entered employers.
On the Financial Analysis page under the Monthly Income section, you can enter negative monthly income amounts.
An issue specific to Google Chrome was fixed where data was being deleted when selecting the enter key and focus was in a text field. For example, on the Financial Analysis page, there is one asset entered. Within a liability, if enter was selected after entering a value into the Creditor field, the asset would have been removed.
On the collateral details page, seller information is available for all collateral location states on Mobile Home (Personal Property/Residence) collateral. Previously it was only collected for the states of MI, NE, TX, WA, and WI.
The Interest Rate Rounding is no longer being applied twice to the Initial Rate, for variable rate transactions with a discount or a premium rate. For existing transactions, review, calculate and recreate the documents if necessary.
Previously, if a problem occurred when loading data in a table (such as Fees or Escrow) an error message displayed on the page in the area related to this issue. In some cases, a processing message was in front of the error message preventing the entire error message from being displayed. This processing message has been removed and the error message alerting you to refresh the page will be visible.
On the Closing Disclosure page, when a closing adjustment is added with an Integrated Disclosure Section of ‘Paid Already by or on Behalf of Borrower at Closing’, an Integrated Disclosure Subsection of ‘Items Paid Already By or For Borrower Pre Seller Credit Line’, and a When Paid of ‘At Closing,’ the amount is now included in Adjustments and Other Credits row of the Calculating Cash to Close table on the Closing Disclosure. For existing transactions, review, calculate and recreate the documents if necessary. For additional information, refer to the question, How are Adjustments and Other Credits determined on the Closing Disclosure? o the Calculations/Loan Estimate and Closing Disclosure page in help.
On the Document Data page, the Escrow Item Waived selection saves on the Escrow Waiver Notice.
On the Document Data page, on the Uniform Underwriting and Transmittal Summary the Investor Loan Identifier can now be entered in the Investor section for new and existing transactions.
On the Loan Estimate and Closing Disclosure, the Loan Terms section, Principal and Interest row has been updated for interest only, non-construction, variable rate transactions. The ‘Includes only interest and no principal until’ bullet has been updated to include the timing of the last interest only payment. Prior to this change, this bullet included the timing of the first adjustment in the periodic payment based on the interest rate. For existing transactions, review, calculate and recreate the documents if necessary.
On the Loan Estimate and Closing Disclosure, we have corrected an issue with the Projected Payments Table. This change affects construction with permanent financing transactions with a fixed rate in the construction phase and a variable rate in the permanent phase where the Number of Interest Payments is less than 12 months and the Initial Rate Hold Term is greater than 12 months. For existing transactions, review, calculate and recreate documents if necessary.
The total for K. Due from Borrower at Closing within the Summaries of Transaction section of the Closing Disclosure has been updated to address the following:
- Fees that were Paid by borrower and POC were included in the K. Due from Borrower at Closing total but should not have been included.
- A negative Prepaid Odd Days Interest amount (i.e. interest credit) was not included in the K. Due from Borrower at Closing total when it should have been.
For existing transactions, review, calculate and recreate the documents if necessary.
For transactions with USDA Mortgage Insurance Applies and no other escrow items, the Escrow Account Disclosure was not selected correctly and the Escrow Account checkbox (will have an escrow account) was not selected correctly on the Closing Disclosure. Both issues have been corrected. For existing transactions, review, calculate and recreate the documents if necessary.
When the Rate Lock Agreement is selected in the application phase, the origination charges and lender credits will now print in the Lock In Option section of the document. Prior to this change, the origination charges would only appear after visiting the closing phase. Existing transactions have been updated so that the origination charges and lender credits will now appear when viewing the Rate Lock Agreement in the application phase.
The Revised Closing Disclosure Cover Letter has been updated so that the Previous Issued Date prints to the document. Previously, the date entered under the Integrated Disclosure Details - Loan Estimate section on the Document Data page printed to the Revised Closing Disclosure Cover Letter instead of the Previous Issued Date from the Integrated Disclosure Details - Closing Disclosure section.
Prior to this release you could fill out and print the Revised Loan Estimate Cover Letter from the processing package. With the change to fix the Revised Closing Disclosure Cover Letter the Issue Date and Previous Issued Date are no longer available in the processing package for the Revised Loan Estimate Cover Letter. It is recommended to use the Revised Loan Estimate Cover Letter from the application phase to be able to fill out those dates.
The Uniform Underwriting and Transmittal Summary has been updated so that amounts entered under the Monthly Housing Expenses section of the Calculations page are not counted more than once for transactions with more than one Borrower or Co-Signer.
A validation warning on the Print page has been corrected to no longer include escrow items as part of the 30 fee limit. Prior to the change, you would receive the warning ‘The number of fees entered can be no more than 30. Prepaid odd days interest, escrow items, and prepaid mortgage insurance are not included in the 30 fee limit.’ even though the number of entered fees did not exceed the 30 fee limit due to the inclusion of escrow fees in this limit.
The validation warning indicating ‘Must be greater than 1’ for the Number of Interest Payments on a construction with permanent financing transaction is no longer presented. The validation warning will still be presented if ‘1’ is entered for the Number of Payments on a construction with permanent financing transaction.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

For the Fannie Mae Desktop Underwriter interface, when sending a construction permanent transaction the term being sent will be for the permanent phase. Previously, the construction and permanent term were added together and sent to the interface.
The Fannie Mae Desktop Underwriter and Freddie Mac Loan Product Advisor interfaces have been updated to evaluate for missing collateral sales price on purchase transactions only and not on refinance transactions.
The ULDD interface has been updated with the new and revised data capture required by Fannie Mae in support of the expanded ULDD requirements effective June 27, 2016. Fannie Mae will accept these changes now.

04/05/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

The product supports interest only non-construction variable rate transactions.

Updates to Existing Functionality

On the Loan Definition page under General Information, Number of Tax Forms Requested has been added for you to indicate how many tax forms (1 through 7) you want available on the Document Data page for purposes of generating the Request for Transcript of Tax Return 4506T. Previously, all transactions had seven tax forms available on the Document Data page. Existing transactions will have Number of Tax Forms Requested set to ‘7’. For additional information, refer to the question 'What is the purpose of the Number of Tax Forms requested option?' on the Loan Definition page in help.
The Seller section on the collateral details page has been updated to display when appropriate in the closing phase. For additional information, refer to the question When is the Sellers section on the Collateral Details page available in the closing phase of a transaction? on the Collateral page in help.
Previously, if a problem occurred when loading data in a table (such as Escrow or Liabilities), you were redirected to the ‘Sorry page unavailable’ error. Now, the error message displays on the page in the area related to the issue so you have more information about the error. You will also be alerted to refresh the page to have the most current information.
Balloon transactions with a Final Balloon Payment Amount defined, correctly disclose the number of columns for the projected payments. Previously, it was disclosing Year 1 and Final Payment column headings. For existing transactions, review, calculate and recreate the documents if necessary.
The following changes have been made for transactions with fees Paid By Lender with a Section of Taxes and Other Government Fees.
- On the Loan Estimate, Lender Credits and Total Closing Costs (J) have been updated to include lender-paid charges disclosed in Section E. Taxes and Other Government Fees, if applicable. Prior to this change, lender-paid charges disclosed either as Recording Fees and Other Taxes, or as Transfer Taxes, were not included on the Lender Credits line and Total Closing Costs (J), or the corresponding values in Costs at Closing.
- On the Calculations page under the Comparison of Loan Estimate and Closing Disclosure Fees, the Estimate Amount listed in Lender Credits that Cannot Decrease now includes fees that are Paid By Lender with a Section of Taxes and Other Government Fees. Prior to this change, fees that met the above criteria were not included in the Estimate Amount which caused ‘Exceeded’ not to appear under Tolerance when the fees decreased.
- The Calculating Cash to Close table of the Closing Disclosure will now correctly reflect a decrease in Lender Credits (and the ‘Increase exceeds legal limits by [amount of excess]’ statement) when fees Paid By Lender with a Section of Taxes and Other Government Fees decreased from the Loan Estimate to the Closing Disclosure. Prior to this change, the ‘Increase exceeds legal limits [amount of excess]’ bullet was not present or was incorrect.
- On the Closing Disclosure, when ‘Settlement service charge excess refunded’ is selected on the Document Data page, the Costs at Closing and Lender Credits line in Closing Cost Details will now correctly include any excess for fees Paid by Lender with a Section of Taxes and Other Government Fees. Total Closing Costs (J) (Borrower-Paid) will reflect the correct amount of the refund for fees Paid by Lender with a Section of Taxes and Other Government Fees. Total Closing Costs (J) and Lender Credits in Costs at Closing, as well as Cash to Close are now correct.
- For existing transactions, review, calculate and recreate the documents if necessary. For additional information, refer to the question What do the lender credits represent on the Loan Estimate and Closing Disclosure? on the Calculations/Loan Estimate and Closing Disclosure page in help.
If escrow items exist on the transaction and the repayment method is changed to interest only those escrow items and any system generated escrow fees will be removed because escrow is not supported on interest only transactions.
On the Document Data page under the Section section, for documents like Manufactured Housing Title Application, Motor Vehicle Power of Attorney, Motor Vehicle Notice Of Lien-FL, and Power Of Attorney Titled Goods, when applicable, Mobile Home (Personal Property Residence) data (for example, seal number, weight, length, etc) can now be entered.
The Request for Transcript of Tax Return 4506T has been enhanced.
- On the Document Data page, multiple options can be selected on the document in section 6 Transcript requested, section 7 Verification of Nonfiling, and section 8 Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript.
- In section 9, all four Year or period requested fields are available for entry on the document.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Fannie Mae 3.2 interface was updated to import the Down Payment Funds type of Gift Funds which eliminates the error previously received.
The Fannie Mae 3.2 and standard import can import collateral information.
The Mortgagebot interface can import fee information.
The following updates have been made to the HMDA Wiz interface:
- Income amounts of $0.00 will default as NA when passed to HMDA Wiz.
- The total income for all borrowers will be included in the calculations for Gross Annual Income.
- Applicant and co-applicant names will display on the HMDA Preview Report.
- The following special characters are supported for the HMDA Wiz password:
  ` ~ ! @ # $ % ^ & * ( ) - _ = + [ { ] } \ | ; : ' " , < . > / ?
For the Wiz Sentinel interface, the Monthly DTI (Debt to Income Ratio) and Monthly Residual Income checkboxes now save, reducing duplicate data entry in subsequent submissions to the interface.
For the ULDD interface, any liabilities set as Exclude or Payoff will not be included in the calculation for the debt-to-income ratio.

03/22/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

Within Administration, you can setup a calculations policy to default in Interest Only as a repayment method. When this policy is used at transaction time, it will only apply the Interest Only repayment method for valid transaction types. For example, on a construction with permanent financing these settings would only apply to the first phase of the transaction.

Updates to Existing Functionality

We have updated the program so that notary data no longer is missing on transactions that originated in either ComplianceOne lending or ARTA Lending and are transferred into ComplianceOne mortgage.
When a Liability Type of Other Housing Expense is added to the Financial Analysis page, the amount entered defaults to Other in the Monthly Housing Expense section on the Calculations page. Previously, even though the Other value was not changed on the Calculations page, any updates made on the Financial Analysis page were not redefaulting to the Calculations page. This has been fixed for new transactions. Existing transactions will need to be updated manually on the Calculations page any time you change Other Housing Expense liabilities on the Financial Analysis page.
For transactions with a quarterly payment frequency and PMI Applies, the Escrow Account Disclosure was selected incorrectly and the Escrow Account checkbox (will have an escrow account) was selected incorrectly on the Closing Disclosure. Both issues have been corrected. For existing transactions, review, calculate and recreate the documents if necessary.
For Every Other Week fixed rate transactions with Prepaid PMI, the Cancellation and Termination Dates on the Private Mortgage Insurance Disclosure were incorrect and have been corrected. For existing transactions, review, calculate and recreate the documents if necessary.
The amortization schedule for variable rate transactions will now include the rate applicable to each payment. Prior to this change the rate change was reflected only on the payment on which it occurred.
For transactions with a Trust as a seller, the Trustee Unique ID has been hidden on the Document Data page to prevent data entry errors.
The functionality for the First Change field in the Limits on Interest Rate Changes section of the Adjustable Interest Rate (AIR) Table on the Loan Estimate and Closing Disclosure has been updated for loans that have Periodic Rate Caps set to 'Do not apply'. The value would previously say 'unlimited' and will now show the difference between the Ceiling and the Floor. If a Floor was not entered, then the difference between the Ceiling and the Margin will be used. For existing transactions, review, calculate and recreate the documents if necessary.
Within the Document Data page on the Mortgage and Deed of Trust documents the indicators for triggering language in the Escrow for Taxes and Insurance section Escrow Account Established and Escrow Account Terms Separate Document have been moved from the Transaction Data section to the Collateral section. This change was made so you can make these determinations for each piece of collateral. Existing transactions that had these indicators set under Transaction Data will now see these indicators set under Collateral for any real estate collateral on the transaction.
For Fannie Mae 3522, 3526 or 3528 transactions, the Margin prints as the lowest rate that can apply within section (D) Limits on Interest Rate Changes on the Note and Rider documents. This change has been made in accordance with the Selling Guide Announcement SEL-2015-12.
On the Document Data page, the Employee Badge ID within the Current Employer and Previous Employer sections on the Request for Verification of Employment document is saving. The document is selected within the Closing phase of the transaction.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

With the core interfaces, days to maturity is now passed to the interface.

03/01/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

There are no new features with this release.

Updates to Existing Functionality

On the Financial Analysis page in the Liabilities section, 'Ground Rent' and 'Leasehold Payment' were added as liability types.
On the Calculations page in the Monthly Housing Expenses section, the Payment Amount entered for Ground Rent and/or Leasehold Payment liability types defaults to the Lease/Ground Rent [L] line. The Payment Amount entered for a Rent liability type no longer defaults to the Lease/Ground Rent [L] line.
On the Financial Analysis page when you add a liability, the Exclude checkbox has been replaced with a list of options; 'blank', 'Exclude' and 'Exclude from Debt Ratio'. When the 'Exclude from Debt Ratio' option is selected the Payment Amount and Outstanding Balance will be excluded from the calculated totals within the Liabilities section on the Financial Analysis page and on the Uniform Residential Loan Application. The individual liabilities will still appear on page 2, section VI Assets and Liabilities on the Uniform Residential Loan Application without the amounts. For additional information, refer to the question How does the Exclude column for a liability impact the documents?? on the Financial Analysis page in help.
On the Loan Definition page, under the General Information section the Organization Contact, Document Preparer, Document Return to - UCC and Document Return to - Mortgage/Deed of Trust have been updated to refresh and display only the values associated to the selected Organization. There was an issue when you would change the organization, scroll down to the General Information section and hit refresh on one of the contacts and the list would contain contacts from both organizations, the newly selected organization and the original organization.
On a variable rate transaction with a Payment Frequency of Every Other Week the frequency for the initial rate hold term has been updated so on documents such as the Adjustable Rate Mortgage Program Disclosure the description of the rate hold period for the variable rate will now print 'two week period' instead of 'weeks'. For example, if your Initial Rate Hold Term is 12 payments, it will print as '12 two week periods' instead of '24 weeks'. For existing transactions, review, calculate and recreate documents if necessary.
On the Document Data page, within the Uniform Underwriting and Transmittal Summary the option to select ‘Base Income Not Include Overtime Bonus And Commission’ was added. For additional information, refer to the question How do I indicate that overtime, bonus, and commission income should be included as ‘Other Income’ on the Uniform Underwriting and Transmittal Summary within the III Underwriting Information section? on the Document Data/Document Specific page in help.
On the Document Data page, within the Uniform Residential Loan Application document, you can enter the Year Acquired under the ‘Complete this line if construction or construction-permanent loan’ or ‘Complete this line if this is a refinance loan’ sections in the yyyy format. Existing transactions with the Uniform Residential Loan Application and either of these two fields filled out will be updated with the 4 digit year versus the full date
The same sections on the Universal Credit Application Real Estate document continue to require the Date Collateral Acquired in a mm/dd/yyyy format.
A validation notice on the Print page has been added to communicate when switching between the application phase and the closing phase the only data saved per phase would be the fees. The new notice is 'With the exception of fees you added using +Fee or by selecting a template, only the most recent changes to the transaction data are retained (e.g. loan amount, rates, dates, escrow) regardless of which phase the data was modified in.'
For construction with permanent financing transactions with a fixed rate in the construction phase and variable rate in the permanent phase, the following validation warning displays on the Print page when appropriate: 'You have entered a ceiling that is greater than the maximum possible rate that can be reached on this transaction.' This validation warning did not previously appear for these transactions.
For construction with permanent financing transactions with a fixed rate in the construction phase, a variable rate in the permanent phase, and an interest only period not evenly divisible by 12, the month when the maximum payment would occur was incorrect in the $10,000 example paragraph on the Adjustable Rate Mortgage Program Disclosure. This has been corrected.
On the Adjustable Rate Mortgage Program Disclosure in the $10,000 example paragraph, the month the maximum payment would occur was previously incorrect when generating the document in the Closing Phase. Changes were made so the month is correct.
For Fannie Mae and Freddie Mac variable rate transactions, the year when the maximum payment would occur was incorrect in the $10,000 example paragraph on the Adjustable Rate Mortgage Disclosure. This has been corrected.
When a refund for tolerance cure is provided at the time the Closing Disclosure is issued for transactions without sellers, Closing Costs Financed (Paid From your Loan Amount) will no longer print a negative amount when a negative number results from the calculation used to determine the maximum that can print in this field. In these cases, $0 will print. For additional information, refer to the question How is Closing Costs Financed (Paid from your Loan Amount) determined? ion the Calculations/Loan Estimate and Closing Disclosure page in help.
On the Loan Estimate and Closing Disclosure, we have corrected an issue with the mortgage insurance amount in the Projected Payments table where PMI termination was disclosed. Prior to the change, in some situations, the mortgage insurance amount was not the maximum amount corresponding to the range of payments disclosed in the same column. Affected transactions include variable rate loans with declining PMI where, based on informal guidance from the CFPB, a four-column Projected Payments table is disclosed in cases where the ceiling and the floor, along with the minimum and maximum payments, are reached during the initial period.

What's New for Interfaces

New Features

When reissuing an existing credit report, the credit interface allows you to identify if it should be a 'Consumer' or 'Mortgage' pull.

Updates to Existing Functionality

For any core interfaces passing escrow data, an issue with passing the correct escrow payment amount and payment date has been fixed. The amount and date seen on the Calculations page under the Escrow section will be passed to the core interfaces.
The ULDD interface has been updated to fix an issue with the rounding on the Qualifying Income Amount. The same rounding rules apply to the Qualifying Income Amount and the Total Monthly Income Amount.

02/16/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents

Click to review the Document List

New Features

There are no new features with this release.

Updates to Existing Functionality

On the Financial Analysis page when you add a Monthly Income with a Type of Other the Subject to Property Net Cash Flow checkbox is no longer available. A new Monthly Income Type called 'Subject Property Positive Cash Flow' will be available instead. The amount entered will appear in the Positive Cash Flow fields on the 1008 Transmittal Summary and in the Other Income fields on the 1003 URLA application documents. Existing transactions that had a Monthly Income with a Type of Other and the Subject to Property Net Cash Flow selected was converted to the new Monthly Income Type 'Subject Property Positive Cash Flow'.
On the Financial Analysis page, an option was added to indicate that additional parties income should be included in the total for qualifying income on the Transmittal Summary.
On the Loan Definition page the option of None has been removed from Construction Type and has been replaced with a blank option. Any existing transactions where the Construction Type was set to None will state that they have been modified by the system because they have been updated with the blank option.
Transactions with odd days that have a 30/360 accrual and 30/360 first period accrual will show a date range for the prepaid interest that consists of the funding date as the beginning date and the end date of the range being one period prior to the first payment date. In order to see these updated date ranges, you will need to go into the transaction and calculate.
The amount of the Non-Standard Monthly Payment for the refinance non-standard to standard exemption to the Ability to Repay requirements has been updated to exclude fees where Collect As is Add To Amount Requested and to exclude the effect of odd days. For existing transactions, review, calculate and rerun the ATR/HOEPA/HPML/QM determination if necessary.
When the Loan Estimate amount and the Final amount for the Total Closing Costs (J) row of the Calculating Cash to Close table on the Closing Disclosure are different, the 'Did this change' column will include ‘Total Loan Costs (D)’, ‘Total Other Costs (I)’, or ‘Total Loan Costs (D) and Total Other Costs (I)’ as needed based on the section of the document where the change occurred, no longer requiring you to complete this on the Document Data page. To update this bullet on Calculating Cash to Close on transactions created prior to this change, click Calculate on the Calculations page.
For example:
- When the Loan Estimate amount and the Final amount for the Total Closing Costs (J) row of the Calculating Cash to Close table on the Closing Disclosure are different due to the aggregate adjustment on an escrow account, the 'Did this change' column includes the bullet 'See Total Other Costs (I)'.
- For a transaction which includes an escrow account with aggregate adjustment as well as lender paid fees, the 'Did this change' column includes the bullet 'See Total Other Costs (I)'. Prior to this change, the bullet included 'See Total Loan Costs (D)' and did not save the change made on the Document Data page.
The Estimate Amount listed in Taxes and Other Government Fees that Cannot Increase within the Comparison of Loan Estimate and Closing Disclosure Fees section of the Calculations page no longer includes fees that are Paid By Borrower, Seller, or Other with a Section of Taxes and Other Government Fees, where Transfer Taxes is selected and Payment Attributable to Borrower is not selected. For fees that meet the above criteria, the ‘Increase exceeds legal limits’ bullet will now be included in the Cash to Close section on the Closing Disclosure when appropriate. Prior to this change, fees paid by Borrower, Seller, or Other that had the above criteria were included in the Estimate Amount, causing these fees to be disclosed on the Closing Disclosure but not the Loan Estimate. For tolerance purposes, these fees should not be used for the tolerance comparison since they did not show up on the Loan Estimate.
On the Adjustable Rate Mortgage Program Disclosure and Uniform Residential Loan Application documents, the Describes the program being used for a variable rate loan description is available for you to change the default value.
The Signature Name Affidavit document is now available for a Borrower, Cosigner, Guarantor, and Owner that is a Trust and you can enter up to two alias names for each Trustee of the Trust on the Document Data page.
On the Document Data page, within the Uniform Residential Loan Application and the Universal Credit Application Real Estate documents under the Declarations section, lines m (1) and m (2), you can now select any combination of Ownership Interest Type and Ownership Interest Title Type.

What's New for Interfaces

New Features

There are no new features with this release.

Updates to Existing Functionality

The Mortgagebot interface has been updated to pass additional fields to ComplianceOne mortgage, including lien priority, collateral county, application date, and occupancy type.
The Kroll Factual Data credit interface has been updated, if you have separate client codes for consumer credit pulls and mortgage credit pulls, when pulling a consumer credit report for the first time, an error “Access denied For Office and Client Code….” has been fixed.
The ULDD interface has been updated to pass all 9 digits of the postal code for the collateral location, when provided.

02/02/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents
Click to review the Document List
The product supports construction with permanent financing transactions with a fixed rate in the construction phase and variable rate in the permanent phase. To enable this type of transaction, within Administration on the Calculations Policy page, Define interest rates separately for each phase of a two phase loan must be selected under the Loan Phases section.
The product supports non-construction purchase money transactions that result in Funds for Borrower greater than $0.00 due to the Loan Amount exceeding the disbursements (ex. Sales Price and any other disbursements). See the Calculations section of help for additional information.
If income for two borrowers was included on the Financial Analysis page, Monthly Income, Other and you moved from the page and returned, an additional instance would be duplicated in the Other section and this would be printed on the URLA. This has been corrected and the duplication no longer occurs.
On purchase money transactions, the sum of the Sales Price entered for each real estate collateral and mobile home collateral is no longer automatically used for the calculation of Down Payment/Funds from Borrower or Funds for Borrower on the Loan Estimate. This was changed to allow you more control over the Down Payment/Funds from Borrower and Funds for Borrower calculations. You will be expected to enter the sum of the Sales Prices entered for each collateral,plus any other disbursements that are not disclosed in total closing costs, into the Total Existing Debt Being Satisfied in the Cash to Close section on the Calculations page.
For existing transactions, review/update the Cash to Close section on the Calculations page, calculate, and recreate documents, if necessary, to update the Down Payment/Funds from Borrower and Funds for Borrower calculations. See the Calculations section of help for additional information on Down Payment/Funds from Borrower, Funds for Borrower and Total Existing Debt Being Satisfied.
For variable rate, every other week transactions, the warning ‘Initial Rate Hold Term must be less than the number of payments’ will no longer appear in cases where it should not be.
The Calculation Results are now provided for transactions with quarterly interest only payments when the first payment date is on May 30, 2016.
The calculated value for prepaid interest when the days between the funding date and the first payment date are less than one period (that is, a short days scenario) is now printing on the Loan Estimate and the Closing Disclosure and is correctly factored into calculations. For example, section F. Prepaids of the Loan Estimate and the Closing Disclosure, as well as the Calculation Results section on the Calculations page, now disclose the correct amount of the short days interest. Prior to this change, the Prepay Odd Days selection would not hold in this scenario, and the transaction was calculated as if the short days interest was not credited at closing. In order to see these updates, existing transaction will need to be recalculated.
Within Administration and on the Fee Details page in a transaction, the Lender's Title Insurance and Owner's Title Insurance fees have been added to the list of fees to choose from.
On the Fee Details page, the Variance Type will have the possible values of blank, 0% and 10% regardless if the fee is added during the application or the closing phase. There are two exceptions to this fees paid by the lender and the Homeowner's Insurance fee will be set to blank and read-only.
Fees within the E. Taxes and Other Government Fees Other Costs section of the Loan Estimate ending in exactly $.50 have been updated to round up and therefore the amounts in J. TOTAL CLOSING COSTS and the amount in Total Closing Costs (J) are now equal.
It was noted that when a fee was set as 'Other' in Paid By in Fee Details on the Calculations page, it was being exported as paid by 'Lender.' It now exports properly as paid by ‘Other’.
The Loan Terms section of the Loan Estimate and the Closing Disclosure has been updated to more closely follow the requirements for disclosing subsequent adjustments in the interest rate and periodic payment for variable rate transactions.
Specifically, the Interest Rate and [Periodic] Principal and Interest rows disclose adjustments after consummation in the 'Can this amount increase after Closing?' column. Subsequent adjustments in the interest rate and periodic payment are described using the phrase, 'Adjusts every' (e.g., 'Adjusts every 3 years'). The frequency description has been revised to use years, months, or units more frequent than months, per recent verbal, non-binding guidance from the CFPB. Prior to this change, the product disclosed the actual subsequent frequency for the transaction (e.g., 'Adjusts every 36 months' for a loan with monthly payments adjusting every 36 payments after the initial change). Based on the clarification, the rules for disclosing subsequent frequency have been updated to convert the actual frequency into appropriate units, as applicable (e.g., 'Adjusts every 3 years' in the above example). This approach more closely follows the Official Staff Commentary to Regulation Z, which provides guidance for disclosing adjustments after consummation. [12 C.F.R. §1026.37; Comments 37(b)(6)-1 and 37(b)(8)-1]
For existing transactions, review, calculate and recreate documents if necessary.
In transactions without sellers, on the Closing Disclosure, when a refund for tolerance cure is provided at closing, we are now correctly determining Closing Costs Financed (Paid from your Loan Amount). Previously, the refund was incorrectly double counted when determining the amount that prints for Closing Costs Financed (Paid from your Loan Amount). See the Calculations section of help for additional information.
The ‘Refinancing by a Different Lender or Origination of a New Rescindable Loan’ version of the Notice of Right of Rescission document is available on the Document Data page when changing a refinance with same lender transaction to a new transaction. Previously, the ‘For Refinance with Original Creditor’ version of the Notice of Right of Rescission was being incorrectly selected.
On the Uniform Residential Loan Application and the Universal Credit Application Real Estate documents, e. Estimated prepaid items, f. Estimated closing costs, g. PMI, MIP, Funding Fee, h. Discount (if Borrower/Applicant will pay), k. Borrower's/Applicant's closing costs paid by Seller and n. PMI, MIP, Funding Fee financed have been opened up for you to change the default values.
On the Verbal Verification of Employment document, Employment Type saves when entered in the Current Employer section.

What's New for Interfaces

The product supports the Mortgagebot interface. You are able to import a transaction that was started in Mortgagebot. Fees are unable to be imported at this time, and will be available in a future release. The interface is accessible within the transaction by using the Import menu option once it has been setup within Interface Manager. If you do not have access to the interface please contact your Wolters Kluwer Financial Services Account Executive for more details.
With the core interfaces, maximum and minimum late charge amounts, whether negative amortization applies or not and payment frequencies of quarterly and every other week now populate correctly to the interface.
On the credit interface, co-applicants will default as joint credit lookups. You will have the ability to remove this link if you do not want to do a joint lookup.
The Loan Product Advisor interface has a section for Borrower addresses. It will list the current and, if available, prior address. Each address will be displayed and you will be allowed to enter the Own/Rent/Living Rent Free, Number of Years, and Number of Months.
On the flood interface, Loan Number from the Loan Definition page flows to the interface to be included on the Standard Flood Hazard Form.
The Section 32/HOEPA APR will now be correctly submitted for purposes of the Section 32/HOEPA APR threshold determination for fixed rate construction loans with permanent financing. Prior to this change, this calculated item was inadvertently not submitted or considered as part of the HOEPA determination for these loans. Section 32 (Actual APR) on the report was 0.000% as a result, and any difference (indicating whether the threshold has been exceeded) was not being determined. Any existing loans will need to be recalculated for the Section 32/HOEPA APR value to be available, and to be considered in the HOEPA threshold determination.

01/12/2016

What's New for ComplianceOne® mortgage

Click to review What's new with the Documents
Click to review the Document List
On the Loan Definition page, duplicate document policies are no longer present. This was previously occurring when there was more than one Document Policy in Administration with the same name, one of those policies was used in a template, and the template was selected in a transaction.
Within Administration you can set the Payment Attributable To Borrower on fees to be used at transaction time.
When a fee is paid by the lender the Variance Type is set to blank. If using a template with fees paid by the lender and the Variance Type is other than blank, the Variance Type chosen in the template will be ignored and set to blank in the transaction. See the Calculations help page for additional information.
The Closing Amount listed in Lender Credits that Cannot Decrease within the Comparison of Loan Estimate and Closing Disclosure Fees section of the Calculations page now includes fees that are Paid By Lender with a Section of Taxes and Other Government Fees, and Transfer Taxes and Payment Attributable to Borrower are selected. Prior to this change, fees paid by lender that had the above criteria were not included in the Closing Amount, causing the Tolerance to be Exceeded on the Calculations page and the ‘Increase exceeds legal limits’ bullet to be included in the Cash to Close section on the Closing Disclosure even when the fee amount was not decreased.
The Affidavit Section 22-NY document has been updated to identify costs of improvement. When adding other charges outside of the predefined list, itemize the fees and their amounts in the User Defined Cost field and enter the sum of the user defined fees into the Amount of Cost. On existing transactions, to enter costs of improvement make a change to the collateral located in NY, save and go to the Affidavit Section 22-NY document on the Document Data page.
On the ARM Early Disclosure when there is a discounted initial rate the amount the interest rate can increase is determined using the initial rate instead of the market rate.
The Consumer Note has been revised to allow an alternate version of this document that excludes checkboxes and language based upon the specific characteristics of the transaction. The alternate version of the Consumer Note is available when Use the alternate version of the document(s) where checkboxes and inapplicable content have been removed. is selected within a Document Policy from Administration.
A signature line for the general contractor signer has been added to the Builders and Mechanics Lien Contract (TX) document for construction transactions ('Construction Only' or 'Construction and Permanent Note' is selected on the Loan Definition page) with collateral located in Texas. In the closing phase when you generate the Builders and Mechanics Lien Contract (TX) document, on the Document Data page you can set your general contractor to an entity (non-individual) and enter their name and title.
USDA has limitations on the use of loan proceeds. Lenders are responsible for adhering to program requirements. As a result, the existing USDA validation notice has been replaced with a new notice.
Previous validation notice: ‘Your USDA Loan to Value ratio is greater than 100%. The amount that can be financed in excess of the allowable LTV can ONLY be attributed to an appraisal fee, a tax service fee, and the initial contribution to escrow.'
New validation notice: ‘USDA limits the use of loan proceeds to eligible purposes and costs up to the maximum loan amount. Lender is responsible for ensuring only eligible items have been added to amount financed.’

What's New for Interfaces

On construction fixed rate transactions, the HMDA LAR has been updated to reflect a fixed rate instead of variable rate.