Feature Enhancements in Version 18.3.0.6
Updates to the Encompass Client Machines
The Encompass 18.3 August Service Pack includes the following enhancements, which are client-side updates that are applied to users' Encompass client machines. This client update can be controlled manually via the Encompass Version Manager tool. If the tool has been configured to always apply new releases to users’ computers automatically, users will receive this update upon their initial log in of Encompass following the release.
Encompass Forms and Tools
New Option to Create a Non-Borrowing Owner File Contact with Non Title Spouse Vesting Type
As introduced in Encompass 18.3, authorized users can use the File Contacts tool to add non-borrowing owners to a loan. Starting in Encompass 18.3.0.6, a new Non Title Spouse option has been added to the Vesting Type dropdown list (NBOC0109) in the File Contacts tool. Previously, the only options to select from were Title Only, Title Only Trustee, and Title Only Settlor Trustee. When a non-borrowing owner file contact with the 'Non Title Spouse' Vesting type (or any of the other available vesting type options) is created, the vesting information for the contact is automatically populated to the Borrower Information – Vesting input form and the non-borrowing owner is placed in the correct workflow when generating disclosures and closing documents so that they are automatically set up to be sent to the non-borrowing owner file contact.
In addition, starting in Encompass 18.3.0.6, the four non-borrowing owner vesting types (Non-Title Spouse, Title Only, Title Only Trustee, and Title Only Settlor Trustee) are now also listed in the Borrower Vesting Type and Co-Borrower Vesting Type dropdown lists provided on the Borrower Summary – Origination input form (field IDs 4008, 4009), Borrower Summary – Processing input form (field IDs 4008, 4009), and the Manage Borrowers pop-up window that is displayed from the Co-Mortgagors tool. If one of these vesting types is selected for these fields, the selected vesting option is also now reflected in the Borrower Type field provided in the Disclosure Details window that displays when viewing a disclosure entry in the Disclosure Tracking tool. If a user chooses to click the blue Lock icon for the Borrower Type field and make a manual selection from the resulting dropdown list, all four non-borrowing owner vesting types are listed in the dropdown list as well.
Updated Fields in the Freddie Mac Additional Data Input Form
Freddie Field # 7 (field ID CASASRN.X166) and Freddie Field 15 (field ID CASASRN.X35) in the Freddie Mac Additional Data input form have been renamed with this release.
- Freddie Field # 7 has been renamed to LoanBeam and has been moved from the Freddie Mac Defined Data section to the Income / Asset Verification section. This field will be used to record LoanBeam asset and income verification data which will then be included in the loan requests to Freddie Mac’s Loan Product Advisor.
The Loan Product Advisor and LoanBeam pilot will be available in a future release. This update is intended to prepare for the pilot launch, in advance.
- Freddie Field 15 has been renamed to Correspondent Assignment Name.
