Fixed Issues for Version 21.2.0.5 (Broker Edition)
This section describes the issues that have been fixed in this release.
This Encompass 21.2 Major Release Critical Patch 5 release includes an update to users' Encompass client machines (21.2.0.5).
Why we fixed these issues: These issue were fixed to improve usability and to help ensure Encompass is operating as expected. These issues were chosen to be fixed based on the severity of their impact to clients and client feedback.
Updates to the Encompass Client Machines
The Encompass 21.2 Major Release Critical Patch 5 release includes the following updates, 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.
Some clients have reported an issue with blank servicing transfer notice fields when applying data templates to their loan files. In certain cases, this may have resulted in the Loan Estimate (LE) being issued without the required servicing transfer notice fields being completed.
Who is Impacted by this Issue?
The following table helps determine if you are impacted by this issue based on your Client Servicing Transfer Configuration option.
Client Servicing Transfer Configuration Option | Impact Areas | Mitigation Required |
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RESPA Setting Only |
No impact. Encompass continued to use the RESPA setting to apply loan level values. |
None |
RESPA Setting and Existing Data Templates created before Encompass 21.1 | Potential impact if data templates with the RESPA setting fields were created before Encompass 18.2. Some existing data templates may have been overridden from settings, in some cases clearing the previously selected RESPA Servicing Transfer checkbox field option (RESPA.X1, RESPA.X6 or RESPA.X28) | Review data templates where RESPA fields are set and update if the fields are not set as expected. |
RESPA Setting and Data Templates created after Encompass 21.1 | No impact to these data templates | None |
Data Templates Only | No impact to these data templates | None |
Other method (Business Rules, DDM, SDK, API) | No impact to loans originated with this method. | None |
What is ICE Mortgage Technology Doing?
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The 21.2 Major Release Critical Patch 5 (21.2.0.5) is being deployed on Thursday, August 26, 2021 to prevent any further issues with data templates when the lender also uses RESPA configuration settings.
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Implementing a new audit on Thursday, August 26, 2021, that will apply when ordering initial disclosures and closing documents to identify any Pipeline loan files where this issue may have occurred.
Package Type | Audit |
---|---|
Disclosures |
Fatal audit will prevent the disclosure package from being generated without a servicing transfer value in one of the servicing transfer notice fields. If this fatal audit is encountered, a user can update the servicing transfer notice fields for the specific loan file prior to sending the Loan Estimate. |
Closing Documents | A recommendation audit will appear advising the user that the servicing transfer value is blank. |
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Also, Encompass administrators should be notified to update the data templates to ensure the appropriate values are marked for the servicing transfer notice. The servicing transfer notice field identifiers are RESPA.X6 and RESPA.X28; for non-TRID loans the field identifier is RESPA.X1.
Client Considerations
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Clients may add the impacted fields to their Encompass Reporting Database to create reports that will identify any potentially impacted loans.
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For clients who may have disclosed a Loan Estimate without the applicable servicing transfer notice box being selected, you may want to consult with your compliance experts to determine any potential impact and next steps. This may include providing written notice to the consumer of the missing servicing transfer notice on the Loan Estimate and disclosing the actual intent regarding the transfer of loan servicing. RESPA provides:
(4) Nonliability. A transferor or transferee servicer shall not be liable under this subsection for any failure to comply with any requirement under this section if, within 60 days after discovering an error (whether pursuant to a final written examination report or the servicer’s own procedures) and before the commencement of an action under this subsection and the receipt of written notice of the error from the borrower, the servicer notifies the person concerned of the error and makes whatever adjustments are necessary in the appropriate account to ensure that the person will not be required to pay an amount in excess of any amount that the person otherwise would have paid. (12 U.S.C. § 2605(f)(4))
Please note this information is intended for general information purposes only and is provided to assist clients in understanding system functionality. It should not be construed as legal advice or opinion. The client is advised to consult their own compliance staff or attorney regarding their specific residential mortgage lending questions or situation to ensure compliance with applicable laws and regulations.
NICE-37518
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