Features and Enhancements for December 2017 Service Pack

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Features and Enhancements

2018 HMDA Support

Why we made this update: The following changes enable Encompass LO Connect to support 2018 HMDA Information reporting guidelines prior to the mandatory implementation for the 2018 reporting year.

Encompass LO Connect provides support for the upcoming HMDA (Home Mortgage Disclosure Act) reporting changes that are scheduled to take effect in 2018 for the collection of loan data that is required for government monitoring of loan applications.

This Encompass LO Connect update enables Encompass LO Connect Users to collect the 2018 HMDA data in accordance with Regulation C, 2015 HMDA Rule. Covered financial institutions are required to collect the 2018 HMDA data for loans with a final disposition (originated, declined, withdrawn, closed, purchased, etc.) taken on or after January 1, 2018. Once the Encompass HMDA settings are configured in the Encompass admin settings, Encompass LO Connect will use those settings to enable Encompass LO Connect users to provide the required demographic information. For the duration of 2017, user may select which information they choose to submit for government reporting for HMDA. The Use 2018 DI check box enables users to modify this section of the 1003 to capture the appropriate data required before submitting an application.


To View 2018 HMDA Fields

  1. From a loan in Encompass LO Connect, click the 7. Declarations & Government Monitoring link in the Loan Application section of the left menu.

  2. Navigate to the Government Monitoring section of the page.
  3. If the new government monitoring information is not visible, select the Use 2018 DI check box.

The following behavior applies to the Information Not Provided and I do not wish to provide this information check boxes for Ethnicity, Race, and Sex that displays in the Government Monitoring section of the of the Declarations & Government Monitoring page.

  • Face to Face Interviews - When this method is used to collect HMDA 2018 demographic information, the Information Not Provided check box is disabled. Selecting I do not wish to provide this information will clear any of the race or ethnicity sub category check boxes in these sections. For example, if the I do not wish to provide this information check box was selected in the Ethnicity section, the user could select Hispanic or Latino but the Mexican check box would be cleared.
  • Telephone, fax, mail, email, or internet interviews - When the method used to collect HMDA 2018 demographic information is Telephone Interview, Fax or Mail, or Email or Internet, both the Information Not Provided and I do not wish to provide this information check boxes are enabled. Both check boxes can be selected at the same time. Selecting the Information Not Provided check box in the Ethnicity, Race, or Sex section will clear all the remaining check boxes and fields in that section, with the exception of the I do not wish to provide this information check box.

Note: If a user selects I do not wish to provide this information for one or two categories and saves the loan, these selections are cleared. If the user selects I do not wish to provide this information for all three categories and saves the loan, these selections remain and the loan is saved. This behavior will be addressed in a release in January to enable Encompass LO Connect users to select I do not wish to provide this information for only one or two sections. If you need to select this option for one or two section you can either select the options in LO Connect and save the loan, which clears the selection, and then select the options and save again. Alternatively, you can select these option in Encompass.

EWS-6488

Fixed Issue

Why we made this update: The following issue was fixed to improve usability and to help ensure Encompass Loan Officer 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 intermittent issue was discovered where some users would not see the New Loan button, or it would be disabled, when attempting to originate a loan in a folder they had permission to originate a loan in. The user often had to either sign out of Encompass LO Connect and sign back in to see the New Loan button, or select a different loan folder and then navigate back to the original loan folder. This is been fixed and users now always see the New Loan button when they are supposed to. The button now reflects as enabled if the user has permissions to start new loans in the folder or disabled if they do not have permission to start a new loan in the folder.

ENCW-10980

 

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