| December 2019 |
- What's New
- Click to review What's New with
Docs
- Click to review the Document
List
- Existing Functionality
- Changes have been made to the Monthly Housing
Expenses page in Calculations. Hazard
Insurance was changed to Homeowner’s
Insurance for consistency throughout the
program. Hover text will display as “Also known as
Hazard Insurance.”
- On January 1, 2020 the USDA Single Family
Housing Guaranteed Loan Program will begin to
assess and collect a fee (USDA Technology Fee)
from lenders on each closed loan that was
submitted via the Guaranteed Underwriting System
(GUS). The list of supported fees has been updated
to include the USDA Technology Fee. When the fee
is selected, Section defaults to Services
Borrower Cannot Shop For/Services Borrower Did Not
Shop For and the Amount defaults to $25.00
for the ease of use purpose. The USDA Technology
fee prints on the Loan Estimate and Closing
Disclosure documents if entered on the
Calculations page.
This fee can be preset
as a default in the Fee Policies section in
Administration.
- Property is a detached dwelling was added
to the Collateral Information section on the
Collateral page. This option will display for 1-4
Family Dwelling, 2-4 Family Dwelling, Condominium,
and Townhome (PUD) collateral types. The
information is used by Desktop Underwriter and
Loan Product Advisor and does not print on
documents or impact autoselection of documents.
-
- What's New for Interfaces
- This release does not include updates to
interfaces.
|
| November 2019 |
- What's New
- Click to review What's New with
Docs
- Click to review the Document
List
- Existing Functionality
- As part of the on-going URLA update project, the
Demographics section on the Parties page has been
updated to correspond to the new design of our
Application page that will be released in the
future with the revisions to the Uniform
Residential Loan Application. Demographics will
continue to be accessible from the same link on
the Parties page but will no longer automatically
display when creating a new party, adding a party
to the transaction, or when importing a party to
the transaction.
- In the October release as a part of the upcoming
URLA feature, we suppressed the option to enter
the Lender’s State License Number under Data
Collection in Transaction Data. In response to
customer feedback, we have now opened this option
so it can be edited directly on the form(s). This
change will remain effective until further changes
are made to accommodate all customers' use cases
for this option.
- The Other Expense option in the Liabilities
section on the Financial Analysis page has been
hidden until the Uniform Residential Loan
Application is fully supported. The Credit
Application Real Estate and Fannie Mae 1003
Freddie Mac 65 Universal Residential Loan
Application documents do not have a designated
field to capture the Other Expense option.
- On January 1, 2020 the USDA Single Family
Housing Guaranteed Loan Program will begin to
assess and collect a fee (USDA Technology Fee)
from lenders on each closed loan that was
submitted via the Guaranteed Underwriting System
(GUS). The list of supported fees has been updated
to include the USDA Technology Fee. When the fee
is selected, Section defaults to 'Services
Borrower Cannot Shop For'/'Services Borrower Did
Not Shop For' and the Amount defaults to
$25.00 for the ease of use purpose. The USDA
Technology Fee prints on the Loan Estimate and
Closing Disclosure documents if entered on the
Calculations page.
In an upcoming release,
we will add the USDA Technology Fee to the Fees
Policies in Administration to assist you in
presetting any additional fields.
- After the October release, users were unable to
associate more than one mortgage or HELOC
liability to a property located in the Real Estate
Owned section of the Financial Analysis page. This
impacted customers with access to the Loan Product
Advisor (LPA), Desktop Underwriter (DU), and
Fannie Mae/Freddie Mac Loan Delivery Dataset
(ULDD) interfaces but did not impact any documents
available within the Document Data or print pages.
This issue has been corrected as part of the
November release, and users can now associate more
than one mortgage or HELOC liability.
- During internal testing, it was discovered that
Co-applicants appear not to be retained after
leaving the Parties page. This is strictly a
display issue as all related documents will print
accurately.
-
- What's New for Interfaces
- This release does not include updates for
interfaces.
|
| October 2019 |
- What's New
- Click to review What's New with
Docs
- Click to review the Document
List
- New Functionality
-
Note: New and Updated InformationTo
minimize duplicate data entry and user confusion
with collecting multiple license numbers and as
part of the URLA update project, information
entered for the Lender ID in
Administration>Organizations will now populate the
Lender’s State License Number field on several
forms. To review or edit the Lender ID, log
in to Administration and navigate to
Organization>Charter section. If you have a loan
in process, you will need to refresh the
Organization on Loan Definition so the data will
flow to the forms. In the past, users could
enter the data either directly on the form and/or
in the Lender's State License Number under
Data Collection in the Transaction Data.
Several forms are impacted by this change
and include:
- Borrowers Certification And Authorization
- Disclosure Notices
- Important Applicant Information
- Closing Disclosure
- Loan Estimate
- Wolters Kluwer has reviewed its software
applications in accordance with industry standard
guidelines and determined the need to increase
security and assist in safeguarding our customer’s
valuable data. The result of this evaluation
determined that the TLS 1.2 protocol will be the
supported version going forward in all
environments and for all products. We are
disabling support of TLS 1.1 with this release. We
recommend that you check with your IT support
group or personnel to fully assess potential
impacts to your operations. If you have any
questions, please contact Wolters Kluwer Support
at 1-800-274-2711, Ext 1123665.
- As part of the on-going URLA update project, the
Assets section on the Financial Analysis page has
been updated with new asset options. The new
version of the Uniform Residential Loan
Application will use the new asset types. Until
the document is supported, all newly-added assets
will print to the Other Assets section of the
Credit Application Real Estate or Fannie Mae 1003
Freddie Mac 65 Universal Residential Loan
Application documents as
applicable.
Assets Each
asset type will be accompanied with the Account
Number (if applicable), Amount, and
Owner. The calculated Total value
for all assets will be updated to take into
account the newly added asset types. Table 1. New Asset Types on the Financial Analysis
Page
| Type |
Description |
| Bond |
An interest-bearing certificate of debt
with a maturity date. |
| Bridge Loan Not Deposited |
Proceeds of a loan (secured by a borrower’s
real property) to provide a homebuyer with funds
for a down payment and closing costs on a new home
before selling the collateral property; the funds
of which have not yet been deposited to a
borrower’s accounts or included with other assets
disclosed. |
| Employer Assisted Housing |
Financial assistance provided by a
borrower's employer to help purchase and finance
real property. |
| Gift of Cash |
Money given as gift (no repayment expected)
to borrowers to assist in a home purchase, usually
from relatives or a close friend, and where gift
funds have not yet been deposited or included with
other assets. |
| Gift of Property Equity |
Without consideration or promise of
repayment, lender allows the seller to transfer
equity in the property to the buyer as a credit in
the transaction. |
| Grant |
Money scheduled to be given as grant (no
repayment expected) to borrowers to assist in home
purchase, usually from local organization or
charity, where grant funds have not yet been
deposited to borrower’s accounts or included with
other assets. |
| Individual Development Account |
A matching funds savings account that helps
people save for the purchase of real
estate. |
| Lease Purchase Credit |
Under a lease/purchase arrangement, owner
of real estate agrees to credit some portion of
rent towards down payment. This is the accumulated
amount of such credits reflected at
closing. |
| Mutual Fund |
Financial entity that invests its
shareholders funds in stocks and bonds of other
entities with the objective of obtaining a return
on its shareholders investment. |
| Pending Net Sale Proceeds From Real
Estate |
Estimated net cash proceeds (sales price -
obligations) from anticipated sale of a borrower’s
real estate assets. |
| Proceeds From Sale Of Non Real Estate
Asset |
Amount received by borrower from the sale
of personal property. |
| Proceeds From Secured Loan |
Proceeds from a loan secured by a
borrower’s assets. |
| Proceeds From Unsecured Loan |
Proceeds from a loan not backed by any
collateral. |
| Stock |
Financial instrument evidencing an
ownership interest in an entity that issued the
stock. |
| Stock Options |
Option given by a company to an employee to
buy stock in the company at a discount or at a
stated fixed price. |
| Sweat Equity |
Buyer/borrower agrees with owner that work
done by buyer/borrower to help complete or improve
the property will be credited as having a specific
value and will be done in lieu of some portion of
the cash purchase price. |
| Trade Equity From Property Swap |
Equity that results from a property
purchaser giving his or her existing real property
as trade as all or part of the down payment for
the property that is being purchased. |
| Trust Account |
Fiduciary relationship where legal title to
a property is transferred to a trustee with the
intention the property be administered by the
trustee for benefit of the beneficiary, who holds
equitable title to such property. |
Liabilities All
liability options have been rearranged to fall
into two categories: Liabilities and Expenses. The
Expenses category includes the following
options:
- Alimony
- Child Support
- Job Related Expenses
- Maintenance
- Other Expense
The Credit Application Real Estate
or Fannie Mae 1003 Freddie Mac 65 Universal
Residential Loan Application documents do not have
a designated field to capture the Other Expense
option, so it should not be used until the Uniform
Residential Loan Application is fully supported.
In a future release, this option will be
temporarily hidden. The newly-added
liability types will have a regular set of related
fields available (i.e. Account Number,
Payment Amount, Owner etc.). The
calculated Total values have been updated
to take into account HELOC and Open 30 Day Charge
Account liability types.
Table 2. New Liability Types on the Financial
Analysis Page
| Type |
Description |
| HELOC |
A mortgage loan, which is usually in a
subordinate position, that allows the borrower to
obtain multiple advances of the loan proceeds at
his or her own discretion, up to a specified
amount. |
| Open 30 Day Charge Account |
An account where the borrower can charge
debt as needed. The full balance is normally
repaid on a monthly basis. |
-
- What's New for Interfaces
- This release does not include updates for
interfaces.
|
| September 2019 |
- What's New
- Click to review What's New with
Docs
- Click to review the Document
List
- New Functionality
-
-
- What's New for Interfaces
- New Functionality
-
- Freddie Mac Loan Product Advisor
Interface
In preparation for the new Uniform
Residential Loan Application (URLA) and its
dataset, updates have been made in Interface
Manager to Freddie Mac Loan Product Advisor (LPA)
parameters to support integration to two versions
of Loan Product Advisor in the future. These
updates do not impact the current use of the
existing URLA or Automated Underwriting Service.
Updates include:
- Fannie Mae Desktop Underwriter
Interface
In preparation for the new Uniform
Residential Loan Application (URLA) and its
dataset, updates have been made in Interface
Manager to Fannie Mae Desktop Underwriter
parameters to support use of both versions of the
URLA in the future. These updates have no impact
to current use of the existing URLA or Automated
Underwriting Service. Updates include:
|
| August 2019 |
- What's New
- Click to review What's New with
Docs
- Click to review the Document
List
- New Functionality
-
- If Partially Exempt per S.2155 is selected on the
Loan Definition page, FDIC is selected as the
Federal Regulator in Administration for a
state-chartered bank whose Federal Regulator is the
FDIC, and an account is not licensed for HMDA
Wiz interface, Code 1111 or Exempt will print on the
HMDA LAR Preview Report and the pipe delimited file.
If an account is licensed for the HMDA Wiz
interface, the HMDA LAR Preview Report will display
an asterisk (*) and 1111 or Exempt will be included
in the file sent to HMDA Wiz from
ComplianceOne.
- The Illinois Land Trust Trustee has been updated to
Land Trust Trustee and Illinois Land Trust has been
updated to Land Trust because the labels no longer
apply to Illinois only. The labels can be also used
for California, Florida, Hawaii, Indiana and
Virginia.
- ComplianceOne assumptions now supports entering up
to two Alias Names per Party. Alias names are used
on the Universal Credit Application Real Estate
(UCA-RE), Uniform Residential Loan Application
(URLA), and additional optional forms to identify a
potential borrower by a former name when reviewing
the applicant’s prior credit history. The Creditor
Name must be entered in the Document Data-Alias node
so the Alias Names will print on the URLA and UCA-RE
documents.
-
- What's New for Interfaces
- New and Existing Functionality
-
- This release does not include updates.
|
| July 2019 |
- What's New
- New and Existing Functionality
-
- This release does not include updates to
assumptions.
-
- What's New for Interfaces
- New and Existing Functionality
-
- This release does not include interface
updates.
|
| June 2019 |
- What's New
- Select What's New with Documents to review
document updates.
- Select Document List to review
updates.
- New Functionality
-
- To
improve visibility and access to timely information,
the Tasks Grid, Transaction Summary, and
Transaction Details pages now indicate when a
task or transaction includes comments. Select
 in the Task panel of the
Transaction Details page or the Tasks
Grid to view task comments. Select to view transaction
comments for a given transaction on the
Transaction Summary page. will only appear on tasks
or transactions with at least one comment. Select
Task Grid and Details for
Help information.
- On the Collateral Details page for Raw Land-Real
Estate collateral, Dwelling Intended to be Built
has been added when the collateral is located in
CA, KY, or WV. In addition, Borrower's Principal
Dwelling is available and defaults selected
when the collateral is located in CA and Dwelling
Intended to be Built is selected.
- The Consumer Caution Notice-CA is selected in the
Upfront, Processing, and Closing packages when the
transaction has at least one borrower entered and
collateral of Raw Land-Real Estate has been added
where the location State is CA, Dwelling Intended to
be Built is selected, Borrower's Principal Dwelling
is selected, and High Cost Mortgage Loan under State
Law is selected within the Notes section on the
Document Data page.
- The Homeownership Protection Center
Notification To Homeowners-KY is selected in the
Closing package when my transaction has at least
one collateral of Raw Land-Real Estate where the
location State is KY, and Dwelling Intended to be
Built is selected.
- The Tangible Net Benefit Worksheet-WV is
selected in the Processing, and Closing packages
when my transaction has at least one borrower
entered and collateral of Raw Land-Real Estate has
been added where the location State is WV,
Dwelling Intended to be Built is selected, and
Select Form Tangible Net Benefit Worksheet
WV is selected within the Transaction Data
section on the Document Data page.
- Updates to Existing Functionality
-
- When a Homeowner Insurance fee is added from the
FEE POLICYdetail page in the transaction, the
fee correctly displays Homeowner Insurance on the
page where the fee policy is added. Previously,
"Hazard Insurance" displayed.
-
- What's New for Interfaces
- New and Existing Functionality
-
- This release does not include interface
updates.
|
| May 2019 |
What's New Select What's NewWhat's New with Documents to review
document updates.Select Document List to review updates. New
Functionality
- Vanceo now
supports navigating to the Transaction Summary page from the
Transaction Details page. Select View Summary from
in the header to view task and comment information (including
task and transaction comments) on a transaction. For Vanceo Help
information, select Transaction Summary
- You can now use
Integrated Tasks in your Vanceo Processes. For Vanceo Help
information, select Integrated Tasks and contact a Wolters Kluwer
Administrator if you want to take advantage of this
functionality.
- Integrated Tasks: Selecting Start Task on
a Vanceo Integrated task goes to the starting location
to complete the task from within the transaction
details.
- For examples of decision tasks and integrated task
definitions, select Vanceo Default Process v 19.04.07.02.
- On the Collateral page for Freddie Mac transactions, Desk Review
was added as a new option for Valuation Method. When this option
is selected, the value will flow to both ULDD and UCD.
- The text 'This information prints to the Uniform Residential
Loan Application (1003) and the Loan/Uniform Underwriting and
Transmittal Summary documents' under the Source of Funds section
on the Financial Analysis page has been removed since it is no
longer accurate. The Source of Funds information will now be
also consumed by the Credit Application Real Estate and
Universal Credit Application Real Estate HMDA. The documents
have been updated so Source of Down Payment now print the
information entered in Source Description for the first
Down Payment Type on the Financial Analysis page. Previously,
Source of Down Payment was editable, and the down
payment source description could be entered directly in the
documents.
Consequently, the existing Inhouse transaction,
where Use Fannie Mae 1003 Freddie Mac 65 URLA is not
selected under the Note section on the Document Data page,
has been updated. If a value is entered in the Source of
Down Payment in the Credit Application Real Estate
or the Universal Credit Application Real Estate HMDA, the
data from the Source of Down Payment will be
transferred to Source Description with the Down
Payment Type set to Other under the Source of Funds
section on the Financial Analysis page. Review your Inhouse
transactions, where the Use Fannie Mae 1003 Freddie Mac 65
URLA is not selected, to verify the Source of Funds
information is accurate.
Updates to Existing Functionality
- While running the OFAC Check in Party Management on the parties
who are on the Specially Designated Nationals and Blocked
Persons List, a permission error displayed. Changes were made
and now, the OFAC Check results will display instead of the
error.
- On the Parties page, when previously selecting Current
Employment under Employment Information, End Date
displayed. End Date will now conditionally display only when
Previous Employment is selected. With this change, a
user can now auto-fill the years and months on the job for the
current employment.
What's New for Interfaces New
Functionality
- On the Calculations page in the Automated Underwriting section,
Loan Prospector has been changed to the Loan
Product Advisor in the HMDA Preview Report. Only the
name changed and does not include changes to functionality. The
new title corresponds to the release of the Freddie Mac Loan
Product Advisor underwriting system (former Loan
Prospector).
Updates to Existing Functionality This release does
not include updates to existing functionality. |
| April 2019 |
- What's New
- Click to review What's new with the
Documents
- Click to review the Document
List
- New Functionality
- Updates to Existing Functionality
- Per customer request, when a late charge appears in
the Late Payment section of the Loan Estimate and
Closing Disclosure that is an even percent, the
zeros will now be truncated to match the model
disclosures. Example: 5.000 percent will be 5
percent.
- An issue has been resolved where the Borrower-Paid
At Closing column for Line 08 Aggregate Adjustment
within section G. Initial Escrow Payment at Closing
of the Closing Disclosure printed 0.00 when the
Aggregate Adjustment was blank on the
Calculations page or an Aggregate adjustment is not
applicable (i.e. the escrow account was waived).
When the Aggregate Adjustment is blank or the
Property Costs section is not completed or not
applicable, Line 08 Aggregate Adjustment will be
blank on the Closing Disclosure. For existing
transactions, review, calculate, and recreate the
Closing Disclosure if necessary.
- The Estimated Escrow row in the Projected Payments
table was inappropriately printing -- (dashes) in
the Final Payment column on the Loan Estimate and
Closing Disclosure for balloon loans where the
escrow account was not set up or it was set up just
for the purpose of adding the mortgage insurance.
This has been resolved and 0 (for Loan
Estimate)/0.00 (for Closing Disclosure) will be
printed for the Estimated Escrow in the Projected
Payments table instead of -- (dashes). The balloon
transactions with no escrow payments should be
recalculated to get the correct value on the Loan
Estimate and Closing Disclosure.
-
- What's New for Interfaces
- New Functionality
- Freddie Mac Loan Product Advisor renamed to
Freddie Mac Loan Product Advisor
Interface
Freddie Mac renamed their
Automated Underwriting System (AUS) from Loan
Product Advisor to Loan Product Advisor when it
became the cornerstone of the Freddie Mac Loan
Advisor Suite®. Additionally, they completely
redesigned the Loan Product Advisor Feedback
Certificate to improve usability. With this
release, we have taken the opportunity to improve
the ComplianceOne experience when interacting with
Loan Product Advisor. For Help information, select
Freddie Mac Loan Product Advisor. The following changes were made:
- Loan Product Advisor was renamed to Loan
Product Advisor throughout ComplianceOne.
- Property Estimated Value and Appraised Value
were removed within the Loan Product Advisor view
as these values are being sent based on data
entered on the Collateral view. This change allows
Automated Collateral Evaluation (ACE) from Freddie
Mac.
- A Verification Services section was added
within the Loan Product Advisor view, allowing
details to be entered about Asset and Income
verifications performed external to
ComplianceOne.
- Added a Source of Funds section within the
Loan Product Advisor view so details can be
entered about Down Payment sources.
- The new Freddie Mac Loan Product Advisor
Feedback Certificate was added.
- Updates to Existing Functionality
-
The Secure Document Exchange interface now
retains the proper time zone when delivering
documents to Wolters Kluwer E-sign.
|
| March 2019 |
- What's New
- Click to review What's new with the
Documents
- Click to review the Document
List
- New Functionality
- With
this release, a confirmation message will now
display after successfully converting a transaction
to Vanceo. Select Continue to work in the
converted transaction or select Back to
ComplianceOne to go to the ComplianceOne home
page to convert or work in another transaction. This
enhancement will assist with moving your in-progress
ComplianceOne pipeline over to Vanceo.
- On the Loan Definition page, the use of HMDA
Applies and 2018 HMDA Rule Applies has
been revised. All newly created transactions or
existing 2018 HMDA reportable transactions (where
both HMDA Applies and 2018 HMDA
Applies were selected) will now only have one
HMDA Applies option on the Loan Definition
page. Selecting HMDA Applies will display all
the HMDA related options and the HMDA page.
For
existing 2017 HMDA Reportable transactions where
only HMDA Applies was selected, but 2018
HMDA Rules Applies was unchecked on the Loan
Definition page, there will be no change. In this
scenario, if the user selects 2018 HMDA Rule
Applies, the Loan Definition page will only
display HMDA Applies after saving.
- On HMDA reportable transactions where HMDA
Applies (Previously 2018 HMDA Applies) is
selected, Property Value will now report the lesser
of the Sales Price or the Appraised
Value of the property on the Collateral
Information page. If the transaction has more than
one property, the Property Value is now the lesser
of the combined Sales Price or the combined
Appraised Value for all collaterals.
For existing
transactions, the updated Property Value will
display when viewing the Preview LAR
record.
- In accordance with the HMDA 2019 Filling Instruction
Guide, Credit Scoring Model options on the
Financial Analysis page were relabeled. Option 2 is
now Experian Fair Isaac Risk Model v2, option 3 is
now TransUnion FICO Risk Score Classic 04, and
option 4 is now TransUnion FICO Risk Score Classic
98. The updated Credit Scoring Model descriptions
will print to the HMDA LAR Preview Report for an
applicant and /or co-applicant.
-
On the Calculations page in the Automated
Underwriting section, Results now includes
new options. The options (Accept/Eligible,
Accept/Ineligible, Accept/Unable to Determine,
Refer with Caution/Eligible, Refer with
Caution/Ineligible, Refer/Unable to Determine,
Refer with Caution/Unable to Determine) are
specific to the Guaranteed Underwriting System
(GUS) and can be selected for HMDA reportable
loans with an action taken date on or after
January 1, 2019.
- Updates to Existing Functionality
- This release does not include updates to existing
functionality.
-
- What's New for Interfaces
- New Functionality
- The user experience has been improved to
present credit service reports in a separate tab
within the ComplianceOne credit service view with
inline viewing capabilities including the ability
scroll, zoom, download, and print for PDF reports,
where applicable. Returned credit reports for
Kroll Factual Data (Lender and Consumer), CBC
Innovis (Lender only), and SettlementOne (Lender
only) can now be opened by selecting the report in
the Credit Report section or on the Report Tab.
Kroll Factual Data and SettlementOne Credit
Services offer the Lender Credit Report in a PDF
format. CBC Innovis Lender Credit Report and Kroll
Factual Data Consumer Credit Report are not
available in a PDF format from these partners. The
reports will continue to be presented as an HTML
report on a tab with view, print, and scroll
capabilities. All other capabilities for the
Credit Services remain the same.
- Updates to Existing Functionality
-
This release does not include updates to
existing functionality.
|
| February 2019 |
- What's New
- Click to review What's new with the
Documents
- Click to review the Document
List
- New Functionality
- Updates to Existing Functionality
-
- In the Credit Report section on the Financial
Analysis page, the Credit Score Used for Risk Based
Pricing, Use on Notice of Action Taken and Credit
Score Used in Interface check boxes did not collapse
when the Credit Report section was collapsed.
Changes were made to now collapse the section
correctly.
- With this release, the HMDA list used to filter
transactions on the Home page has been removed.
Submitted transactions can be filtered on the HMDA
Processing page by selecting an option in the
Submitted list.
-
- What's New for Interfaces
- New Functionality
This release does not
include updates to new functionality.
- Updates to Existing Functionality
-
This release does not include updates to
existing functionality.
|
| January 2019 |
- What's New
- Click to review What's new with the
Documents
- Click to review the Document
List
- New Functionality
- The Complete Transaction feature has been added to
ComplianceOne assumptions. Users with the Complete
Transaction permission in Security Administration
can now take action in the transaction header to
complete an open transaction and make the
transaction read only. Review your Mortgage Loan
Originator and Custom roles in Security
Administration to activate the permissions for your
users if you want to take advantage of this new
feature. For more information, refer to the Transaction Actions section on the Getting Started page in Help.
- The ComplianceOne Home page has been updated
to filter out Completed Transactions by default,
and a new filter has been added to the list of
filters.
- The Reopen Transaction feature has been added to
ComplianceOne assumptions. Users with the Reopen
Transaction permission in Security Administration
can now take action in the transaction header to
reopen a completed transaction to make it editable
again. Review your Mortgage Loan Originator and
Custom roles in Security Administration to activate
the permissions for your users if you want take
advantage of this new feature. For more information,
refer to the Transaction Actions section on the Getting Started page in
Help.
-
With this release, the Demographics page will not
contain the text, ‘If you will be reporting 2017
HMDA data, select only one option.’ in the
Ethnicity and Sex section because 2017 HMDA
reporting has been completed. For transactions
subject to HMDA, you will continue to collect the
demographic information as you have done
previously. Similarly, for transactions that are
not subject to HMDA, the removal of the text
reference does not change your current workflow of
collecting the demographic information.
- In Document Data for the Notice of Action Taken, the
following were moved from the Transaction Data
section to the Note section.
- Action Taken Description applies when
the Loan Decision is Denied.
- Date Notice of Action Taken Offer
Expires applies the Loan Decision is Counter
Offer or Counter Offer with Denial.
- Loan Description applies when the Loan
Decision is Counter Offer, Counter Offer with
Denial, or Denied.
For existing transactions, the data
previously entered will be retained and appear in
the Note section.
- The link to HMDA Wiz will no longer appear in the
Menu because 2017 HMDA reporting has been completed.
Now, all the data related to HMDA is collected
throughout the workflow.
- Updates to Existing Functionality
-
- What's New for Interfaces
- New Functionality
This release does not
include updates to new functionality.
- Updates to Existing Functionality
- A transaction that had a credit report pulled
prior to importing from MortgageBot and Standard
Import will not display a generic user error after
navigating to the Financial Analysis page.
Previously an error displayed under these
circumstances.
|
require task assignees to
select a decision outcome before completing the
task. A decision outcome is irreversible and
typically leads a financial institution’s process
down a different path. After a decision outcome is
selected and confirmed, the task is denoted as
completed 
.