Updates to Features and Enhancements for 19.4 Major Release
Fee Itemization Support
The Fee Itemization form is a detailed estimate of closing costs and other charges that must be satisfied before the loan closes. Information entered on the Fee Itemization is also used to populate the fee entries on the Loan Estimate and Closing Disclosure input forms.
Navigating the Form
- Use the Loan Program and Closing Cost Program search at the top of the form to select a loan program or closing cost template.
- Use the blue Show or Hide arrow to show or hide the content below the headers for the numbered sections (700-1400).
- Click the Fee Details icon to access the fee details window to enter details about a specific fee.
- As fees are entered, the section header displays the total fees paid by the Borrower, Seller, and Other, as well as the Total for all fees in the section.
General Guidelines
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Type the costs and fees assigned to the borrower, seller, or both.
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For calculated fields, the value is placed in the Borrower field. If you type a value in the associated Seller field, that amount is deducted from the Borrower value.
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Use the check boxes in the columns on the right to specify the characteristics of the fee.
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If your administrator has created predefined fee descriptions for miscellaneous closing costs (fees with blank description fields), select a description from the drop-down list. If your administrator has granted you permission, you can also type a description in the space provided.
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The Truth In Lending requirements that went into effect on April 1, 2011 prohibit any person other than the borrower from paying compensation to a loan originator in a transaction where the borrower pays the originator directly. If your administrator has configured the LO Compensation Rule to govern a fee being paid to a broker in line 801, a green LO Compensation icon displays next to the fee line. The LO Compensation Violation message may display any time fees are set to be paid to the broker by both the borrower and someone else other than the borrower.
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If the Address Book icon displays next to a field, click the icon to select the provider's name from your business contacts. Or type the name in the field and, optionally, right-click to add a new contact to your business contacts.
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Use the Edit icons to open a calculator to determine the associated field value.
To Use the Fee Itemization Form
- From a loan in Encompass LO Connect, select Fee Itemization in the Forms section.
- To expand all sections, select the Expand All button. To collapse all sections, select the Collapse All button.
- To expand a section on the Fee Itemization, select the Arrow icon.
- To edit the fee details for a line item, select the Edit icon.
Note: Aggregate Setup and Daily Interest Charges can only be populated once the first payment date is entered on the loan. At this time, the first payment date can only be entered on the loan in Encompass.
Security Enhancements
A new login experience is now implemented for all users. When a user logs into Encompass LO Connect, they will now first enter their instance ID and select Next before entering their user ID and password on a second screen. This change is in preparation for additional upcoming security enhancements that can be configured based on the instance ID.
To Log Into Encompass LO Connect:
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On the Encompass LO Connect log in screen, enter the instance ID and select Next.
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Enter the User ID and Password and then select Login.
Note: The Instance ID on this page is read only. If you need to change your Instance ID, select Back to enter the Instance ID again.
The rest of the login process remains the same.
Enabling MFA in Encompass LO Connect
Encompass administrators now have the option to disable Multi-factor Authentication (MFA) for their Encompass LO Connect instance. This option should only be disabled if your company is using an alternate security method.
To enable this option in Encompass, view the Enable MFA on Encompass section of the How to Set Up MFA With Your Existing Provider guide located here.
In addition to this option, this release expands the configuration options for MFA for Encompass LO Connect. Login security is very important for protecting the personal information of borrowers. Encompass administrators can now use their existing Okta Verify or Duo Mobile integration to replace PingID as an MFA solution. If you are already using Okta Verify or Duo Mobile today, you can enable one of these providers through Encompass Developer Connect.
To gain access to Encompass Developer Connect, view the guide located here.
To configure Okta Verify or Duo Mobile to work with Encompass LO Connect, view the guide located here.
Scenario Comparison Tools Enhancements
Several enhancements have been made to the Scenario Comparison Tools functionality to improved the user experience.
A new AUS field has been added to the Loan Information screen for an opportunity which enables users to select the automated underwriting service in order to receive eligible loan programs from Optimal Blue. Users can select either DU, LPA, or Manual. The default value is set to DU.
When a loan officer emails scenarios to a potential borrower from an opportunity, the Investor name, price, and discount information is now hidden. Previously, emails sent to potential borrowers displayed the Investor name as well as the price and discount information for the proposed scenario.
Note: The Investor information is still viewable when viewing the scenario details.
Two new columns have been added to replace the Fees column in the Scenario Comparison screen for Opportunities. The Fees column has now been replaced and now there are two new Discount and Rebate fields. This change enables the user to clearly differentiate when there is a cost or credit to the borrower for each scenario.
Features and Enhancements
A new user search option has been added to the Services Management Setup feature to enable administrators to find specific users quickly. When an administrator is assigning users to a service setup the administrator can now select the Search icon, enter the search criteria, and press enter to filter the list of users.
To Search for a Specific User in the Service Setup:
- From the Encompass LO Connect Admin Portal, select Company/User Setup and then select Services Management.
- Select a service category, and then click Add to add a new service setup or select the Menu icon in the Actions column and select Edit to edit an existing setup.
- On the Service Setup screen select the Search icon in the Users with permission to order this service section.
- In the Search field ID, name, etc. field, enter the search criteria and then press Enter.
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The user list is filtered to display any results that match or contain the search criteria.
A new Income, Assets, Liabilities and Expenses section has been added to the Borrower Summary Origination and Borrower Summary Processing pages in Encompass LO Connect. This section has been added to provide feature parity with Encompass. Use the Edit icon to access the calculation windows for the Borrower's Income, Co-Borrower's Income, Other Income, and Proposed Housing Expenses fields.
A placeholder service card has been added for the upcoming Closing Fees service. Once new providers are available for the Closing Fees service, admins will be able to configure these vendors in the Services Management settings in the Encompass Admin Portal. Additional information on service order cards will be provided as service providers become available in the future.
Fixed Issue
Why we made these updates: The following issue was fixed to improve usability and to help ensure Encompass LO Connect is operating as expected. The issues that are chosen to be fixed are based on the severity of their impact to clients and client feedback.
An issue was discovered where ZIP Codes that started with a zero were removed when entered on an opportunity. This has been fixed and now ZIP codes that start with a zero are not removed.
An issue was discovered where persona access to fields rules would sometimes prevent loan data from being populated and saved from a template. This has been fixed and now the template data populated to the loan file when there is a business rule conflict.
An issue was discovered where users were listed in a unsorted order in the Service Setup screens for the Encompass Admin Portal. This has been fixed and now the users are listed in alphabetical order. This change enabled the admin to quickly find users to add to a service setup.
The calculation used to determine the APR for Opportunity scenarios has been updated to include additional fields. The following information is now included in the APR Calculation:
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When a user enters a value in the Amount to be Included in APR field on the Costs screen, the value entered in this field is now included in the APR calculation.
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When a user enters values on the Mortgage Insurance (MI) screen and selects the Impacts APR option, the values entered in the Mortgage Insurance section are now included in the APR calculation. If the user removes the check mark from the box, the values on this screen will not be included in the APR calculation.