Feature Updates and Enhancements in ECS 23.3 December Service Pack Release

Updates and Enhancements

Mapping Added to Support Additional Freddie Mac PMMS Indices

Mapping has been updated in the ECS system for the following Freddie Mac Indices effective December 14, 2023: 

  • Freddie Mac PMMS US 15-Year Fixed Rate
  • Freddie Mac PMMS US 30-Year Fixed Rate
  • Freddie Mac PMMS US 5-Year Adjustable Rate

Note: Effective January 1, 2024, Freddie's 5-year ARM is no longer applicable, and Freddie will cease publication. Users who select the Freddie Mac PMMS US 5-Year Adjustable Rate index will receive an ERROR status message for loans applied for on or after 01/01/2024. Refer to the System update in the November 2023 Rules Release notes for additional information.

Freddie Mac PMMS US 5-Year Adjustable Rate Index

Freddie Mac PMMS US 5/1-Year Adjustable Rate Index

The requested index rate is no longer published for the (code) index you submitted. The last index rate for the Freddie Mac PMMS US 5/1-Year Adjustable Rate index was made available by Freddie Mac on December 31, 2023. Please resubmit your loan using a valid index.

CE-50337

Updates to HMDA 2024 Reporting

ECS has been updated to enhance the system's compliance and efficiency in accordance with the latest HMDA regulations, scheduled to take effect on January 1, 2024.

The HMDA 2024 updates include—

When Action Date (field ID 749) is equal to or greater than 1/1/2024, the following updated edits will only fire when any of the Edit Condition(s) have been met AND when the HMDA2018 review runs:

Type of Data Field Edit Number Data Point Modification
Loan/Application Register V668 Credit Score Updated edit to include the added credit scoring models 12, 13, 14 and 15.
Loan/Application Register V665 Credit Score Updated edit to include the added credit scoring models 12, 13, 14 and 15.
Loan/Application Register V667 Credit Score Updated edit to include the added credit scoring models 12, 13, 14 and 15.
Loan/Application Register V720 Credit Score Updated edit to include the added credit scoring models 12, 13, 14 and 15.
Loan/Application Register Q660 Property Location New edit that prevents filers from inputting a street address that exceeds 100 characters. Also, prevents filers from reporting multiple street addresses in a single field.

NOTE: The existing version(s) of these four Credit Score Edits will continue to run when Action Date (field ID 749) is prior to 1/1/2024 AND when the HMDA2018 review runs. Edit Q660 did not exist prior to 1/1/2024 and will not be included in the existing versions when Action Date (field ID 749) is prior to 1/1/2024.

CE-50365

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Feature Updates and Enhancements in ECSMavent 23.3 December Service Pack Release