(Added on 1/15/2021)

For loans using the new URLA Forms, an update has been made to the calculation for Total of Other Assets Applied to the Loan (field ID URLA.X151) on the 1003 URLA – Lender input form to conform with the method adopted by Fannie Mae and Freddie Mac for updating the cash to close amount with other assets tagged as credits.

The Total of Other Assets Applied to the Loan now includes amounts listed in section 2b. Other Assets You Have on the 1003 URLA Part 3 that have any of the following options selected for Asset Typed:

• Earnest Money

• Employer Assistance

• Lot Equity

• Relocation Funds

• Rent Credit

• Sweat Equity

• Trade Equity

To support this calculation, the following new options have been added to the Other Assets dropdown list:

• Lot Equity

• Relocation Funds

This update changes the existing workflow in which these types of purchase credits are documented only in the Qualifying the Borrower table, since these credits are now covered in the calculation for Total of Other Assets Applied to the Loan. The Fannie Mae export functionality has also been updated to ensure that the Total of Other Assets Applied to the Loan does not duplicate the credit section of Other Assets.

Example:

If a borrower documents that they have Sweat Equity being applied to the loan in the Other Assets section of the 1003 URLA Part 3, this amount is now included in the Qualifying the Borrower section (previously Details of Transaction) on the 1003 URLA-Lender input form. The amount is included in the calculation for Total of Other Assets Applied to the Loan, which is part of the Total Credits. If the amount provided by the borrower is not approved to be applied to the loan file, the value in Other Assets must be modified to be correctly included in cash to close.

1003 URLA Part 3

1003 URLA - Lender

(Updated on 2/9/2021)

For loans using the new URLA forms, the calculation of Net Income/Loss (field ID FM0032) on the Verification of Mortgage (VOM) input form has been updated to enable underwriters to capture the correct net rental income on loans originated on the new URLA forms. The calculation now adjusts for the Net Rental Income for primary residences being retained and repurposed as rental properties based on the selection in the Property will used as checkbox (field ID FM0055) on the VOM input form. Previously the calculations for Net Income/Loss was based on the selection for Property is used as (field ID FM0041).

For loans using the new URLA forms, the following updates have been made to the borrower and co-borrower current address fields on the Basic Info tab on the ATR/QM Management input form. These updates apply the address formatting used on many other address blocks on the new URLA forms:

• New Unit Type fields have been added (field IDs FR0125 and FR0225)

• New Unit Number fields have been added (field IDS FR0127 and FR0227)

• The Street Address fields are now editable.

• The foreign address functionality remains the same

(Added on 1/15/2021)

Updates have been made to the Loan Terms section on the Loan Estimate Page 1 and Closing Disclosure Page 1 to display the correct Balloon Payment and Maximum Interest Rate features for loans with terms less than 24 months but not equal to one year. Two dropdown fields have been added with options for Year and Month, one for the balloon payment due period (field ID LE1.X98) and one for the maximum payment interest rate period (field ID LE1.X99). These fields are dynamically generated in the Loan Terms section when appropriate and are populated by default with Month when the period is less than 24 years, but not equal to 1 year. They are populated with Year when the period is equal to a year.

Balloon Payment

Maximum Interest Payment

Additionally, the two new fields display when appropriate in the LE Snapshot and CD Snapshot records in the Disclosure Tracking tool.

Migration

When updating to the Encompass 21.1 Major release, no data migration is applied to existing loans.

(Updated on 1/12/2021)

The following updates have been made to the ULDD/PDD input form to address ULDD export issues:

• A new Related Loan Affordable Indicator checkbox (field ID ULDD.X194) has been added to the bottom of the Types of Mortgage and Terms of Loan section on the Fannie Mae and Freddie Mac tabs on the ULDD/PDD input form. Select the checkbox to indicate that the loan is an affordable loan product. This information will be sent in the ULDD request file.

  

• A new Credit Repository Source Type dropdown list (field ID ULDD.X198) has been added below the Loan Level Credit Details section on the Fannie Mae and Freddie Mac tabs on the ULDD/PPD input ULDD forms to indicate the Credit Repository Source Type that is associated to the Loan Level Credit Score Value. The following options display on the list:

  • Equifax
  • Experian
  • TransUnion
  • MergedData

  

(Added on 1/15/2021)

A new State-Specific Disclosure Information input form is now available for subject properties in the state of Arkansas to enable a Lender providing a notice of servicing transfer to enter an explanation of the payment calculation as required by AR Admin. Code 214.00.13-001 Rule 5010-1(c). The form includes a Notice of Servicing Transfer section with a free-entry text box (field ID DISCLOSURE.X1215) where the lender can enter the method of payment calculation.

(Added on 1/15/2021)

The State-Specific Disclosure Information input form for subject properties in the state of Washington has been updated to capture the name of the entity providing the rate lock guarantee as required by RCW 19.146.030(2)(c) and WAC 208-620-510(3). A new free-entry text box (field ID DISCLOSURE.X1216) has been added to the right of the Guaranteed checkbox (field ID DISCLOSURE.X687) to enable lenders to enter the name of the guarantor.

(Added on 1/15/2021)

To enable lenders to overwrite the monthly principal and interest calculation for HFA loans with $0.00 payments, a 0.000% note rate, and a final payment, Lock icons have been added to the Monthly Principal & Interest fields for monthly loans (field ID 4085) and biweekly loans (field ID HUD51) in the Loan Terms section on the Loan Estimate Page 1 and Closing Disclosure Page 1. Previously, Encompass was not populating the $0.00 payment on the projected payments table or the loan terms table when an HFA loan was customized as described above. Users can now click the Lock icons to manually enter the amounts in these fields.

(Added on 1/15/2021)

A new read-only Workflow ID field (field ID 4685) has been added to the Source section on the Borrower Summary – Origination and the Borrower Summary – Processing input forms to capture the workflow ID sent with a loan file submitted from an Encompass Consumer Connect website.

The Workflow ID field is also available in the Encompass Reporting database and can be added to custom input forms and reports. For additional information about the workflow ID feature, refer to the Encompass Consumer Connect release notes for the Encompass 21.1 Major Release when they are available.

(Added on 1/27/2021) 

When configuring an enhanced condition template, administrators can use the Effective Dates section of the Enhanced Conditions settings screen to indicate the dates for when the condition starts to be required for the loan and stops being required for the loan. These dates are designed to determine when loan team members will have access to this condition in a loan. When the dates are no longer effective, the loan team members will not see this condition template in the list of conditions to add to the eFolder in the loan. Although these Effective Dates options were available in the Enhanced Conditions setting, they were not being enforced in the loan files. Starting in Encompass 21.1, these dates are now enforced for automated enhanced conditions. Automated enhanced conditions will be listed for loan team members and available to be added to the eFolder only if the condition’s effective start date is earlier than the current date (i.e., “today’s date”) and the condition’s effective end date is later than the current date.

With the Encompass 21.1 Major Release, the updates described below have been made to the new cloud-based version of the document viewer that was made available to Encompass users on request starting with the Encompass 20.1 release. If your company is using the new document viewer, it will display in the Encompass eFolder. File attachments that use the new viewer display a document image with a green globe . The document viewer is generally available for Encompass customer, but the viewer is not installed automatically when you update to Encompass 21.1. For information about requesting the new document viewer, refer to the How to Install the New Document Viewer on Your Instance of Encompass knowledge article in the Resource Center.

Ability to Edit Pages in a Document from the Thumbnail Panel

Users can now rotate, delete, and reorder pages in a document directly from the thumbnail panel instead of opening the Edit window first. Edits can be saved as soon as they are made by clicking the Save icon in the thumbnail panel rather than having to exist the eFolder and save the file.

Drag and Drop Updates

The following updates have been made to the drag and drop capabilities when dragging and dropping pages from the thumbnail panel:

• Pages can be selected and dragged from the thumbnail panel into the Unassigned section of the viewer. The pages are deleted from their current file and moved into a new unassigned file.

• Pages can be selected and dragged from the thumbnail panel and dropped on a document in the Documents section of the viewer. The pages are deleted from their current file and moved into a new file assigned to the document on which they were dropped.

• Pages can be selected and dragged from the thumbnail panel and dropped on a file in the Unassigned or Documents section of the viewer. The pages are deleted from their current file and appended to the end of the file on which they were dropped.

Text Search Capabilities

Users can now press the Ctrl+F keys to search for text in a file that displays in the document viewer.

(Added on 1/27/2021)

The FHA County Limits for 2021, announced by HUD, have been incorporated into the Encompass FHA County Limits table in Encompass Settings. These changes are effective on January 1, 2021. When using this table, select the new HUD Web Site URL for 2021 to use the 2021 county limits for FHA loans. Existing loans that are updated after this option is selected for the table will be evaluated using the 2021 limits.

On the External Company Setup > Company Details settings screens that administrators use to configure the settings for third party originators (TPOs), a new Generate LE & Disclosures option is now provided in the Organization section of the Basic Info tab. Use this dropdown field to select if you want to "Disable Fee Management" for the brokers at this company (this is the default selection), enable them to "Request LE & Disclosures", or enable them to “Generate LE & Disclosures”. Only one option can be selected for this field.

(Updated on 1/27/2021) 

Enhancements to business rule settings are in place to enable wholesale lenders and correspondent investors to write rules around who can access a loan feature, when the feature will be available, prerequisites that must be addressed before loan team members can complete a loan action, and when email notifications are sent when the loan action is completed. The following new TPO Actions are now available for administrators to select for the Loan Action Completion, Field Data Entry, Field Triggers, Persona Access to Fields, Persona Access to Loans, and Persona Access to Loan Actions:

• Request Title Fees
• Generate Loan Estimate/Disclosures
• Order Appraisal Request

Administrators can also use the Advanced Conditions option in the Is there a condition for this rule section of the business rule set up screen to write rules for these new TPO loan actions. User the following syntax in the Advanced Coding field when configuring these business rules: 

• Persona Access to Loan Actions
• Loan Action Completion Section

The following Advanced Coding Syntax is supported in these rules as follows: 

• LoanActions.IsComplete("TPO_RequestTitleFees")
• LoanActions.IsComplete("TPO_GenerateLEDisclosures")
• LoanActions.IsComplete("TPO_OrderAppraisal")

This update is for the settings in Encompass only. While these new TPO Actions options are visible in Encompass 21.1, the actual implementation of these options so that they are enforced by the business rule will not be in place until a future Encompass TPO Connect release.

New options have been added to the TPO Connect > Access to Manage Account Page section of the Personas setting to provide greater granularity for administrators around controlling user access to options on the My Account page in TPO Connect websites. Use the new Personal Account options shown here to enable or prevent TPO Connect users from accessing these areas on the My Account page in their TPO Connect website. (To access the My Account page, TPO Connect users log into their TPO Connect site, click their User Profile icon in the top-right corner of the site, and then select My Account from the menu. Note that users can only access the My Account option if their persona has been configured with access to the Access to Manage Account Page option.

(Added on 1/27/2021) 

The Settings Reports tool in Encompass Settings can be used to generate and view organizational structure and persona-based reports. Authorized users can then use these reports to provide information to auditors on Encompass users and their level of access within the application. Persona-based settings reports display and map information from the Personas setting. In this 21.1 release, the Persona-based settings reports have been updated to include the following TPO Connect persona settings:

• Encompass Settings > Company/User Setup Personas > TPO Connect > Access to Manage Account Page > Personal Account – Edit “My Information”
• Encompass Settings > Company/User Setup Personas > TPO Connect > Access to Manage Account Page > Personal Account – Edit “My Licenses”
• Encompass Settings > Company/User Setup Personas > TPO Connect > Access to Manage Account Page > Personal Account – Edit “My Notifications”

(Added on 1/27/2021) 

When working with enhanced conditions, you can create a new condition by clicking the Condition Types button on the Enhanced Conditions settings screen, and then clicking the New icon to open the Add a Condition Type Setting screen and define the characteristics of the condition. You can also click the Edit icon to edit an existing condition. In this 21.1 release, a new Delete icon is now provided on the Condition Type Settings screen. Use this icon to delete a condition type. You will be prompted to confirm the deletion since deleting a condition type will delete all of the associated enhanced condition templates that use the condition type. This includes enhanced condition sets and automated enhanced conditions business rules.

Note that enhanced conditions that are Investor, Preliminary, Underwriting, or Post-Closing cannot be deleted. The Delete icon will be inactive (grayed out) when one of these condition types is selected.

(Added on 1/27/2021) 

To create a new enhanced condition, administrators use the New icon on the Enhanced Conditions screen to open the Enhanced Conditions screen and define the condition type, description, effective dates, and more properties. In the Type dropdown list, the enhanced condition types listed here are now presented in ascending (A – Z) order. Previously, the types listed here were listed in the order in which they were created.

(Added on 1/15/2021)

For lenders using Freddie Mac Loan Product Advisor (LPA), a new Freddie Mac Appraisal Hybrid field (field ID CASASRN.X205) has been added to the Encompass Reporting Database to enable Encompass to parse data from Freddie Mac LPA and record whether loans are eligible for an appraisal hybrid for lenders who want to take advantage of the hybrid program. This field is not visible on standard Encompass forms, but it can be added to custom input forms and reports.

(Added on 1/15/2021)

The following two new Encompass fields have been added for secondary marketing purposes. These fields do not display on any existing Encompass input forms but can be added to the Encompass Reporting Database and can be included added to custom input forms and reports.

• Rate Lock Request Void Lock Date (field ID 4686)

• Rate Lock Request Void Lock Comment (field ID 4687)

(Added on 1/15/2021)

The Encompass ZIP Code database has been updated with the latest available ZIP Code data.