Change Log for June 2019 Service Pack

Change Date: 6/12/2019

Details: The EPPS Now Returns Only One Geography Definition for a Loan entry on the Fixed Issues page has been updated to clarify the issue.

Current Entry:

An issue occurred where two geography definitions were applied to a loan. When EPPS evaluated the geography definitions, the system only searched for matches with the State, County, and Zip Code, and disregarded the Census Tract, MSA, State Code, and County Code. This resulted in multiple geography definitions matching the search criteria. This issue has been resolved and the Census Tract, MSA, State Code, and County Code are now included in the geography definition search criteria, which returns only one applicable geography definition.

Previous Entry:

An issue occurred where two geography definitions were applied to a loan. When EPPS evaluated the geography definitions, the system only searched for matches with the State Code, County Code, and Zip Code, and disregarded the Census Tract, MSA, State Code, and County Code. This resulted in multiple geography definitions matching the search criteria. This issue has been resolved and the Census Tract, MSA, State Code, and County Code are now included in the geography definition search criteria, which returns only one applicable geography definition.

Change Date: 6/13/2019

Details: The Updates to the Finances Tab entry on the Feature Enhancements page has been updated with the first item in the list of changes.

• A new Non-QM Doc Level field in the Documentation Type section has been added to ensure Non-QM loans are qualified based on the Non-QM documentation provided by the borrower.

• This field is only displayed if Non-QM is selected in the Standard Products section on the General tab.
• The available options for the Non-QM Doc Level field will change when “Full Income” or “Alternative Income” (formerly “Limited Income”) is selected for Income.
• When "Full Income" is selected, the following options are available:

• 24 Months W-2/Tax Returns (Default)
• 12 Months W-2/Tax Returns

• When "Alternative Income" is selected, the following options are available:

• 24 Months Personal Bank Statements (Default)
• 12 Months Personal Bank Statements
• 24 Months Business Bank Statements
• 12 Months Business Bank Statements

• The Non-QM Doc Level field is not displayed if “Lite Income”, “Stated Income”, or “No Income” is selected for Income.