Encompass 24.2 Release Notes - Broker Edition

What's in This Release

Highlights of this release include the following:

• Affordable Housing Enhancements - Several enhancements have been made in Encompass to facilitate users collecting and applying Median Family Income (MFI) and Area Median Income (AMI) limits and data. Lenders can use these limits to help determine income eligibility for affordable housing programs. These include new fields added to the Affordable Loan Eligibility section of the Borrower Summary - Origination, Fannie Mae Additional Data, and Freddie Mac Additional Data input forms to better enable Encompass users to view factors that provide insight on whether a loan is a good candidate for an affordable loan program such as USDA and a new Affordable Lending setting that provides lenders with the most recent Median Family Income (MFI) data for specific geographic areas. Finally, a new Median Family Income (MFI) option has been added to the Automated Data Completion category in the Encompass Admin Tools > Settings Manager. Administrators can use this option to enable Encompass to retrieve MFI data systematically and automatically populate/complete data within the Affordable Loan Eligibility section of the Borrower Summary - Origination input form, and on the Fannie Mae Additional Data and Freddie Mac Additional Data input forms.

• HELOC Loan Enhancements - Several enhancements for HELOC loans are now available, including: 

  • A new read-only HELOC Qualifying Payment loan-level field (5025) is now provided on the HELOC Management input form. The value populated to this field is based on the loan amount (1109) and the selections made in the HELOC Qualifying Payment section of the form. This field replaces fields 1724 (used for the proposed monthly first mortgage payment) and 1725 (used for the proposed monthly second mortgage payment) on this form. Field (5025) will use the existing calculation logic for HELOC qualifying payment basis, but now the actual qualifying payment is shown here. This gives users an easy way to refer to the HELOC qualifying payment for HELOCs only.

  • In Encompass 24.2, the payment for the 1st lien from the VOL is now included in field 1724 2nd lien HELOC loans and 1725 for 3rd lien HELOC loans.

  • The calculation for CLTV for VA Refinance loans now uses the same Logic as LP/DU.

  • A new checkbox field for Minnesota (MN) Statutes 47.59.12 is now available on the Important Terms and Agreement Language tab on the HELOC Management input form. Use this field to indicate that the loan is not subject to these MN statutes.

• Select from Predefined Fee Descriptions to Populate 2015 Itemization Input Form’s Line 704 - Users managing the data on the 2015 Itemization input form can now select from a predefined list of fee descriptions for line 704. This list is determined by the fees configured in the Encompass Settings > Tables and Fees > Itemization Fee Management settings.

• Update to the HMDA Reporting Year for Repurchased Loans Field - When a HMDA repurchase date is added to the Repurchase Date field (3312) on the HMDA information input form, the year of this date is now populated to the repurchase HMDA Reporting Year field (HMDA.X92) on the HMDA Information input form's Repurchase Loans tab for data consistency.

• New Fields Added to New Mexico State Specific Information Input Form - New fields have been added to the New Mexico State Specific Information input form to enable users to fully populate the New Mexico Rate Lock disclosure included in some disclosure packages.

• Loan Archive Updates - In Encompass 24.2, archived loans and archive loan folders are not included in the Loans in My Pipeline and other Encompass Home page modules by default. In addition, updates have been made to the settings in Dashboards and Reports to enable users to exclude archive loans. Finally, when a loan is moved from an archive folder to an active or different archive folder, Encompass now retains the state of the loan prior to when the loan was originally moved to the archive folder. The state of the loan is based on the loan-level Archived checkbox (5016). If the checkbox is selected, the loan is archived. If the checkbox is not selected, the loan is active.

• New Field Locks Added - Field locks have been added to field URLA.X145 on Line E. Credit Cards and Other Debts Paid Off on 1003 URLA Lender and 2015 Itemization input forms and the HOEPA Status field (HMDA.X13) on the Fannie Mae tab and Freddie Mac tab on the ULDD/PDD. Authorized users can use the lock to manually override system calculated values in the fields.

• New Encompass Installer - Starting with Encompass 24.2, a new installer will be made available. This new installer supports silent installation and also installs Encompass much faster than the current installer. More information about accessing this new installer will be provided soon.

• Refer to the Encompass Field Look Up self-service tool in the Resource Center for a list of input form fields in Encompass.

Install Files and Downloads

Visit the Encompass SDK and Other Install Files page to access the latest download links to common tools, including eFolder print drivers and the Encompass Document Converter.