What's New 2016

December 2016

Phone Number is now available for the following two Addresses under Alternative Address Information:

On the Document Policy page in the Transaction Data section, Loan is Assumable has been added. If selected, the Loan is Assumable check box will default as selected on the Loan Definition page for the following transactions types: In-house, Fannie Mae 3200, Freddie Mac 3200, Fannie Mae 3244.1 and Freddie Mac 3244.1. If not selected, the check box will default as unselected for the same transaction types as above. Existing policies will have Loan is Assumable selected by default. Review your Document Policies in Administration and make changes if needed. This option will impact all assumptions transactions.
In preparation for the Military Lending Act (MLA) effective 10/3/2016, ComplianceOne® mortgage has added MLA Toll Free Phone Number and Extension fields to the Transaction Data accordion in Mortgage Policy - Documents.

On the Document Policy page in the Transaction Data section, Loan is Assumable has been added. If selected, the Loan is Assumable check box will default as selected on the Loan Definition page for the following transactions types: In-house, Fannie Mae 3200, Freddie Mac 3200, Fannie Mae 3244.1 and Freddie Mac 3244.1. If not selected, the check box will default as unselected for the same transaction types as above. Existing policies will have Loan is Assumable selected by default. Review your Document Policies in Administration and make changes if needed. This option will impact all assumptions transactions.
In preparation for the Military Lending Act (MLA) effective 10/3/2016, ComplianceOne® mortgage has added MLA Toll Free Phone Number and Extension fields to the Transaction Data accordion in Mortgage Policy - Documents.

The Agreement to Provide Insurance will now be included in both the Application - Upfront and Closing - Processing phases. As a result, the "Select the Agreement to Provide Insurance" check box has moved from the Closing Documents accordion to the Transaction Data accordion in Mortgage Policy - Documents.
In preparation for the Military Lending Act (MLA) effective 10/3/2016, ComplianceOne® mortgage is including a MAPR (MLA Annual Percentage Rate) check box for selection when creating fees.

When adding or editing a Variable Rate Policy, selecting a Fannie Mae or Freddie Mac product (3502, 3522, 3522.44, 3526 or 3528) will set the Periodic Rate Caps Application to "Apply on a per adjustment basis" and the field will now be disabled.
When adding or editing a Calculations Policy, a Payment Frequency of Annually can now be specified.

When adding or editing a Calculations Policy, a Payment Method of Interest Only along with the Interest Payment Frequency and Number of Interest Payments can now be specified.

A change was made in the February deployment to disable the Variance Type when a Fee is described as Paid By Lender. If your Administrative setup includes fees that are Paid By Lender and have a Variance Type specified (e.g., 0% or 10%) the value for the Variance Type has now been removed.