Feature Enhancements in Version 20.1.0.6 Server Patch 5

A new This HELOC Agreement amends and restates your existing HELOC Agreement check box has been added to the Important Terms and Agreement Language tab on the HELOC Management input form to indicate that a HELOC agreement amends and restates an existing HELOC agreement.

When the checkbox is selected on the HELOC management form, a checkbox with the following language displays on the GHLCAGR/HELOC Agreement, Page 1 output form.

If this box is checked, this Home Equity Line of Credit Agreement amends and restates your existing Home Equity Line of Credit Agreement.

When the checkbox is not selected, the checkbox and text do not display on the printed output form.

The checkbox and text are also available in Loan Program templates and on the Loan Program detail pop-up window, and the checkbox field is available in the Encompass Reporting Database.

(Updated on 5/22/2020)

The logic used to calculate a default value for the First-Time Homebuyer dropdown list (field ID 934) has been removed and the Lock icon has also been removed from the field. The field is now blank by default and must be populated manually. The change was made to address the scenario where No is populated for First-Time Homebuyer if any of the borrowers do not select Yes in the URLA Declarations (field IDs 403 and 1108) to indicate an ownership interest in a property in the past 3 years.

A new option has been added to the Encompass Admin Tools to enable administrators to prevent disbursement dates from readjusting in the aggregate analysis schedule when the 1st Payment Date (field ID 682) is changed. When this option is enabled, disbursement dates do not adjust in the aggregate analysis schedule when the 1st Payment Date (field ID 682) is changed. This option was added due to an issue that occurred with disbursement dates moving when the Encompass SDK (Encompass Software Development Kit) or an Encompass business rule was used to adjust the 1st Payment Date.

When this option is enabled and an adjustment to the 1st Payment Date causes an escrow due date to fall outside the date range in the aggregate analysis schedule, that date does not display in the schedule. Before enabling this option, it is recommended that Encompass administrators review business rules or processes for workarounds previously implemented to address these date changes and to adjust or remove any workarounds that are no longer required.

Fields have been added for future functionality to capture additional correspondent lender data for side-by-side comparisons with original loan data. These fields do not display on standard Encompass input forms but can be added to custom input forms as needed The fields are also available for use in business rules and in the Encompass Reporting Database.

Three new sets of repeatable fields have been added to capture data for multiple records in the follow categories:

• Credit Report – 7 fields with field IDs that have the prefix CRED (e.g. CRED0001)

• Disclosures – 21 fields with field IDs that have the prefix DISC (e.g. DISC0001)

• Scenario – 28 fields with field IDs that have the prefix SCEN (e.g. SCEN0001)

Additionally, the following new fields have also been added:

• Valuation fields – 2 repeatable field (field IDs VAL00067 and VAL0068) have been added for capturing data for multiple valuation records.

• Borrower-level and loan-level fields – New fields (field IDs CORRESPONDENT.X405 - CORRESPONDENT.X460) have been created to capture borrower-level and loan-level data.

Five new fields have been added to capture correspondent compliance review data specifically for use with correspondent compliance reviews that are performed in Encompass LO Connect:

• After-Improved LTV Value (field ID CORRESPONDENT.X400)

• Last Disclosure Date (field ID CORRESPONDENT.X401)

• Last Disclosure Received Date (field ID CORRESPONDENT.X402)

• Estimated Escrow (field ID CORRESPONDENT.X403)

• Current Finance Charge (field ID CORRESPONDENT.X404)

These fields do not display on standard Encompass input forms but can be added to custom input forms as needed. The fields are also available for reporting purposes in the Encompass Reporting Database.

A new Allow New Locks outside of Lock Desk Hours setting has been added under the Re-Lock Enablement section of the Product and Pricing setting. This setting enables re-locks on active locks, with a Request Type set to "New Lock", to be requested when the Lock Desk is closed.

This setting is only enabled when the Product and Pricing provider is set to "No Provider Selected".

A new Escrow Holdback field (field ID CORRESPONDENT.X405) has been added to the Purchase Details section on the Purchase Advice tab on Correspondent Purchase Advice tool to enable the entry of the escrow holdback amount to make reporting easier for this amount. Previously Encompass users entered the escrow holdback amount in one of the free-entry fee line items. The amount entered in the Escrow Holdback field is deducted from the calculated value for the Wire Amount (field ID 3611).

The original design of the Correspondent Purchase Advise form required the user to click the Update Balances button prior to generating the purchase advice with final figures. To facilitate the automation of this process, we are providing new API’s that expose the trigger for the following actions in the Purchase Advice:

• Update Balances on the Correspondent Purchase Advice

• Update Fees on the Correspondent Purchase Advice

• Payment Amortization Table for rendering on Encompass Web

In order to control updating of balances, these calculations must be triggered explicitly, but that will now become available via API with the implementation of this feature.

To support the new SOFR index type options in ULDD exports for FMNA and Freddie Mac loans, a 30-Day Average SOFR option has been added to the ARM Index Type dropdown lists (field IDs ULDD.FNM.ARMIndexType and ULDD.FRE.ARMIndexType) on the Fannie Mae and Freddie Mac tabs on the ULDD/PDD input form.

This update also applies to the corresponding input pages used in Encompass LO Connect.

A new Equity on Sold Property option has been added to the following dropdown lists to support future functionality for down payment types on the Fannie Mae and Freddy Mac tabs on the ULDD/PPD input form:

• Down Payment 1 Type (field ID ULDD.FRE.DownPaymentType)

• Down Payment 2 Type (field ID ULDD.FRE.DownPmt2Type)

• Down Payment 3 Type (field ID ULDD.FRE.DownPmt3Type)

• Down Payment 4 Type (field ID ULDD.FRE.DownPmt4Type)

The following updates have been made to enable the appropriate escrow data to populate to the Escrow Details page for the Correspondent Purchase Advice Form in Encompass LO Connect loans.

For loans that are imported into Encompass (either from FNMA 3.2 loan files or via APIs) escrow calculations are now automatically triggered upon import and are populated to the Escrow Details page for the Correspondent Purchase Advice Form on Encompass LO Connect loans. Previously, the escrow calculations for loans imported from a FNMA 3.2 file or via APIs were not populating to Encompass LO Connect loans unless one of the following scenarios occurred:

• An Encompass LO Connect opened the Fee Itemization page and adjusted all the necessary fees to trigger the calculations.

• An Encompass user opened the Correspondent Purchase Advice Form (accessible via the Tools tab on the lower-left navigation panel in an Encompass loan file), clicked the Escrow Details tab to trigger the calculations, and then saved the loan.

A new Retain User Updates checkbox has been added to the top of the Escrow Details tab on the Correspondent Purchase Advice Form in Encompass and to the Escrow Details page for the Correspondent Purchase Advice Form in Encompass LO Connect loans to control how escrow calculations are updated on the forms. The checkbox is cleared by default and is also cleared when a loan file is imported. The following logic is used with escrow calculations for the Correspondent Purchase Advice Form based on whether the checkbox is cleared or selected:

• When the checkbox is cleared:

  • The Escrow Details fields are calculated from the loan data and are read-only.

  • The fields are recalculated when any data used in a field calculation is updated.

  • When a user applies a template that has the checkbox cleared, the Escrow Details fields are recalculated to synchronize with the loan data.

• When the checkbox is selected:

  • The fields on the tab are not synchronized from the loan data and any existing values are retained until a user updates them.

Migration

For loans created prior to the Encompass 20.1 May Service Pack, the checkbox is selected, and the existing values are retained.

Two new sets of repeatable fields to capture credit report information for correspondent lending purposes have been added to capture separate credit information for the borrower (field IDs BCRED0001–BCRED0007) and for the co-borrower (field ID CCRED0001–CCRED0007). This change was made to support future functionality for the fields, which do not display on standard Encompass input forms but can be added to custom input forms as needed. The fields are also available for reporting purposes in the Encompass Reporting Database.

In a previous release, the delete action for Correspondent trade pair-offs was changed to require the entries to be deleted in reverse order in which they were entered; most recent entry deleted first. In this release, the delete action has been updated so that the entries can be deleted in any order.

For the Bulk and Co-Issue process, there may be instances where the seller does not provide the borrower’s first and last name at the time of loan assignment. The investor should be allowed to assign the loan a Bulk, Bulk AOT, or Co-Issue delivery type during the loan fulfillment process, and update the borrower information at a later time. In this release, the validation for borrower first and last name has been removed and an error will not be generated if the borrower’s name is not entered and the loan is assigned a Bulk, Bulk AOT, or Co-Issue delivery type.

When setting up TPO information in the External Company Setup > Company Details > Third Party Originators > Company Details settings, the Basic Info tab now provides the following additional fields:

• Billing Address, Billing City, Billing State, Billing Zip: These new fields have been added to the Company Details section of the tab. These fields are provided to reflect billing information for the TPO, especially if the billing address is different than the company’s physical address, city, state, and ZIP code information that is also populated in this Company Details section.

• Yrs in Business: This new field, located in the Business Information section of the tab, calculates the TPO’s years in business based on the current date and the date entered in the Date of Incorporation field in the Business Information section.

In the External Company Setup > Company Details > Third Party Originators > Company Details settings, the Warehouse tab is used to manage the warehouse banks associated with the TPO you are configuring. In order to help clearly differentiate warehouse banks that share the same name, city, state, or ABA#, a new Address column is now provided in the External Bank List pop-up window that displays when you click the New icon in the Warehouse Banks section of the tab. This pop-up window lists all of the Warehouse banks that are associated with the TPO and the address information could be the only way to identify the warehouse bank you want to select from the list.

Encompass SDK users now have the ability to do a Token Exchange via the SDK. This enhancement enables users to allow plugins to generate an access token that can be used to call APIs.