GSE Integrations and Services 23.3 January Service Pack: Feature Enhancements
This section discusses the updates and enhancements to existing forms, features, services, settings, and mappings included in this release.
ULDD
AUS Tracking Tool
Credit Reference ID (field ID AUS.X201) is now updated in the Loan Snapshot, upon successful loan submission to DU Early Check and/or Freddie Mac Loan Product Advisor.
This helps users ordering a soft credit pull and sending to DU and/or LPA see the credit details captured in the order history and understand next steps in the credit evaluation process.
Credit Report Type (field ID AUS.X202) is updated for DU Early Check only with this release. Credit Report Type for LPA will be updated with a future release.
Fannie Mae
Desktop Underwriter® (DU®) early assessment gives lenders more options for their pre-qualification process in DU. Lenders can submit a single soft pull credit file and receive a conditional DU recommendation, which can determine homebuyer preparedness and mortgage options earlier while consumers are spared the impact of a hard credit check.
For more information, see Desktop Underwriter® (DU®) Early Assessment Frequently Asked Questions.
Prior to this release, tri-merge credit report was needed during loan submission to Fannie Mae. With this release, you can submit a credit report from any of the three supported credit service providers - ExperianTM, Equifax® and TransUnion® - for a quicker and cheaper pre-qualification process.
This only applies to pre-qual; you will eventually need to submit a tri-merge credit report - Fannie Mae will pass back a message to Encompass to that effect, at the relevant stage of the loan workflow.
To support this, the following updates are included in this release:
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Select a Credit Report Option window: Verbiage for tri-merge (three in-file merged) credit report replaced with references to ordering a single report
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Edit Credit Reference Information window: Displays all credit reports with corresponding reference numbers and report types enabling you to help decide which credit report you want to submit with the order. If multiple records are present the system will automatically default to the latest credit report ordered to use with the AUS submission. The new checkbox on the left of the grid is an indicator of which credit report type will be sent. Users can change this value. Only one checkbox per borrower pair is allowed for submission.
Existing legacy ICE Mortgage Technology Partner Network (previously known as EMN) credit integrations will only populate the order UI with the credit reference number for merged credit. The newly updated credit integrations CoreLogic CREDCO, Xactus, and Factual Data will update data for all data in the grid for all credit report types (i.e. PreQuals). New credit integrations are continuously being updated monthly to support the PreQual.
To manually add credit orders, now click the Add icon.
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To create a new entry, click the Add icon, select your borrower pair, enter the Credit Reference Number and other details specific to the credit report. The credit reference number is the only required field to submit to AUS.
Desktop Originator: The DO Order window listing the credit details has been updated to align with the look and feel of DU to display additional details of the credit order. This change is forward looking to enable to easily navigate upcoming credit enhancements. Early Assessment is not supported in Desktop Originator currently and the tri-merge credit report is still required.
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