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# What's New 2016

The following describes key enhancements and important changes made to the product.

December 2016 | What's New for ComplianceOne® assumptions 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 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 Loan Estimate will correctly display $0 in Section E. Taxes & 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. 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® assumptions New Functionality 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 selecting Exclude from total for a real estate asset in the Real Estate Owned section impact the documents? in 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 in the Real Estate Owned section represent? in 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. Assumption Fee All Fannie Mae and Freddie Mac transactions when 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. The transaction late charge details from the Late Charge policy now defaults to the transaction. 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. 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. 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. We now support full Veteran’s Administration (VA) transactions. Additional VA documents have been added and can now be used. With the additional support of VA Assumption Ancillary documents, we have removed the notice "Only the Loan Estimate and Closing Disclosure are officially supported for an assumption at this time." Additionally, we have added a new validation notice to the program to address a known limitation for variable-rate FHA/VA assumptions loans (in the application phase only). This notice reads: “An ARM early disclosure may be required for this transaction; one is not currently provided." The FHA/VA Adjustable Rate Mortgage Disclosure will be updated in a future release.
October 2016 | What's New for ComplianceOne® assumptions Updates to Existing Functionality The Source of Funds section is available on the Disbursements page when Type of Mortgage is In-house or VA. In addition, when Type of Mortgage is Fannie Mae, Freddie Mac, FHA, In-house or VA 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. There were instances that if the Worst Case Amortization Schedule button was selected and you went straight to view the Loan Estimate or Closing Disclosure without hitting calculate where the documents were printing data in the Total of Payments Over 5 Years section from the Worst Case Amortization Schedule. This is now corrected and you will not have to calculate before going to preview documents and the correct values will always print. The Escrow Account Rolled Over on the Document Data page under the Note section has been removed. This is now set behind the scenes and will be true when Existing Escrow Account Transferred-No New Escrow is selected. Selecting this option will stop 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® assumptions New Features There are no new features with this release. 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 Help. A new Modification Maturity Date field has been added to the Assumption Information section of the Calculations page. This field displays for use in an FHA or USDA transaction with mortgage insurance where the original transaction has been modified previous to the assumption. In these scenarios, the original Mortgage Insurance amounts need to remain as they were when calculated from the original maturity date, however the amortization schedule needs to be based off the Modified Maturity Date. Note: there may be instances where this new field will display and all criteria are not met for an FHA or USDA transaction, and in those cases, the Modified Maturity Date, even if entered, will not be used. 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® assumptions New Features There are no new features with this release. Updates to Existing Functionality 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. 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 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 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 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® assumptions 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 RESPA CBA Servicer section on the Document Data page. Updates to Existing Functionality 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. The Total Interest Percent (TIP) calculation has been modified for assumption USDA transactions so that the calculation no longer takes into account the MI premiums. 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 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® assumptions 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 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. Transactions with an Initial Rate Definition of Specific Value and Initial Rate Subject to Floor applicable previously experienced some scenarios where the initial interest rate was being rounded and compared to the floor because the Initial Rate inadvertently changed from the Specific Value entered. Now, when the above criteria is met, the calculated Initial Rate no longer goes below the floor, and no error message appears. The release includes modifications to the following At Origination fields. These fields have always been necessary for determining calculations, but were not recently enforced as required by the program, and some were hidden unless needed for FHA and USDA functionality. All of the following fields now always appear in the At Origination section and are required at all times, because they are used for calculations beyond FHA and USDA. Maturity Date Term APR Loan Amount Interest Rate P&I The Total Interest Percent (TIP) calculation has been modified for Assumption USDA transactions so that the calculation no longer takes into account the MI Premiums. 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. 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® assumptions New Features There are no new features with this release. 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. 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? 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. The total for K. Due from Borrower at Closing within the Summaries of Transaction section of the Closing Disclosure has been updated to address 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. For existing transactions, review, calculate and recreate the documents if necessary. 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. What's New for Interfaces New Features There are no new features with this release. Updates to Existing Functionality 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® assumptions New Features USDA Assumption Mortgage now supported USDA assumption mortgages are now supported. When the qualifying criteria is met within the transaction, the USDA Mortgage Insurance Applies checkbox is available within the Mortgage Insurance section of Calculations. When this field is checked, the related USDA fields appear. Note that USDA-related mortgage insurance escrow is considered existing escrow, which is consistent with all types of mortgage insurance within assumptions functionality. FHA with MIP MIP is now available for FHA loans in Assumptions. In order to calculate the mortgage insurance rate, the program must collect some additional origination information. Several new fields have been added to the Assumption Information section of Calculations: Loan Amount, Interest Rate, P&I are new fields to calculate premiums for MIP. In the Mortgage Insurance section of Calculations, we added several new fields to accommodate the FHA with MIP functionality. Number of months, Current MI payment, Override termination date, and upfront MIP factor were all added and are applicable to FHA assumptions transactions with MIP. MIP on FHA loans is considered existing escrow and is not considered a new escrow item. This behavior is consistent with all mortgage insurance for assumption transactions. Note that UFMIP is not available on assumptions transactions Assumptions FHA transactions may be either fixed rate or variable rate. 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 should I see the Seller section on the collateral details page 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 Loan Estimate and Closing Disclosure page in Help. 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 now saves, 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® assumptions New Features There are no new features with this release. Updates to Existing Functionality 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. 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. 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® assumptions 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 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.' 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? on 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® assumptions 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. See the question 'What is Additional Parties Income Included?' on the Financial Analysis section of help for additional information. 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 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.
2/02/2016 | What's New for ComplianceOne® assumptions With this release, the Assumptions loan type is now available for selection. All non-Assumption documents have been removed from the program. Also, all Assumption documents are now available and supported. The Notice that previously indicated that the Loan Estimate and Closing Disclosure were the only supported Assumptions documents has been removed for all transactions, except when VA loan type is designated. VA Loans are not yet fully supported. You will see a minimal number of VA documents at this time.