Feature Enhancements in Version 20.2.0.5 Server Patch 3 (Banker Edition)

When address validation failures occur for a scheduled fulfillment package, an automated email notification is now sent to the sender of the package to notify the sender that the package has failed, and that the sender must reschedule the fulfillment package. The notification includes the following details about the loan package:

• Loan ID

• Loan number

• Primary borrower name

• Package ID

• Reason for Failure

One of the following three options displays for the Reason for Failure:

• Street address is greater than 50 characters

• Invalid zip code

• Address is outside the US

The following changes have been made to the Statutory Closing Costs Recoupment section on the Qualification tab on the VA Management input form after consultations with the VA regarding Circular 26-19-22 Change 1:

• The calculation for the P&I Payment (field ID VASUMM.X128) has been updated to use the following value for the loan amount in the calculation: Loan Amount (field ID 2) minus the Energy Efficient Improvements Financed Amount (field ID VASUMM.X132). Previously the loan amount value used in the calculation also excluded the Financed Closing Costs to Exclude [Retired] (field ID VASUMM.X134).

  This calculation update also affects the values populated for the P&I Reduction (field ID VASUMM.X129) and the Recoupment Months (field ID VASUMM.X130).

• The label for field ID VASUMM.X134 has been changed from Financed Closing Costs to Exclude to Financed Closing Costs to Exclude [Retired].

• Lock icons have been added to the following fields:

  • Closing Costs (field ID VASUMM.X127)

  • P&I Payment (field ID VASUMM.X128)

  • P&I Reduction (field ID VASUMM.X129)

Migration

The calculation for P&I Payment (field ID VASUMM.X128) is not updated automatically with the Encompass 20.2 January Service Pass release but is updated when a change is made to the loan amount, loan rate, or loan term.

When the Piggyback Loans tool is used to link Piggyback loans in Encompass, the Linked Piggyback Indicator checkboxes (field ID URLARAL0025) on the VOAL records for both loans are no longer editable.

Error messages now display in Encompass when the following formatting issues result in a validation failure for the recipient’s address.

• The following message displays when the street address exceeds the 50-character limit:

  [From or To] Street Address cannot be more than 50 characters

• The following message displays when the Zip code does not match the expected format of five digits (example: 12345) or five digits followed by a hyphen and four additional digits (example: 12345-6789):

  Invalid [From or To] Zipcode. Zip code format should be 5 digits or five digits + four digits

The error messages display only for fulfillment packages sent after updating to the Encompass 20.2 January Service Pack release.

These error messages display on the Send eDisclosures window in Encompass for Encompass WebCenter and Encompass Consumer Connect packages where a fulfillment is scheduled.

A new Export iLAD (MISMO 3.4) option is now available on the Pipeline menu, enabling you to export one loan at a time, in iLAD (Industry Loan Application Dataset) format.

This update is supported in Encompass 20.2 and later versions.

To export your loan in iLAD format, close your loan file, click the Pipeline menu, point to GSE Services, and then click Export iLAD (MISMO 3.4).

An iLAD Mapping Document is available on the Ellie Mae Resource Center as Knowledge Article number 000037009.

To support this update, Personas setting has also been updated with an Export iLAD option. Users assigned to personas with Export iLAD enabled can access this option from the Pipeline.