Fixed Issues for Version 22.2.0.1 Server Patch 1 (Broker Edition)
This section describes the issues that have been fixed in this release.
Why we fixed this issue: This issue was fixed to improve usability and to help ensure Encompass is operating as expected. This issue was chosen to be fixed based on the severity of its impact to clients and client feedback.
Update to the Encompass Server (i.e., Server Patch 1)
The Encompass 22.2 Critical Patch 1 contains a Server Patch (server patch 1) that is applied to the Encompass Server. The Server Patch included with this release will be applied to the Encompass Server automatically and cannot be controlled manually via the Encompass Version Manager tool. Please note that the update included in the Server Patch 1 is applicable to features provided in Encompass Banker Edition only. Functionality in Encompass Broker Edition is not affected by this update.
Updates to the Encompass Client Machines
The Encompass 22.1 Critical Patch 1 release includes the following items, which are client-side updates that are applied to users' Encompass client machines (22.2.0.1). 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.
Issue Resolved in Payment Schedule Calculations for Some Simple Interest Loans
An issue was resolved that cause the payment schedule to list a final payment that was larger than expected (and a slightly higher finance charge) for loans that met all the following criteria:
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The Use Simple Interest Accrual checkbox (field ID 4749) is selected.
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The 365/365 or 365/360 option was selected for the Number of Days (field ID 1962).
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The 1st Payment Date (field ID 682) falls on the 29th, 30th, or 31st day of the month.
The incorrect final payment occurred because the calculation for the number of days in the payment period was using the number of days in the month during which the payment period started. Simple interest loans using the 365/365 or 365/360 method need to count the actual days within the payment period. This resulted in an incorrect number of days being used for these loans when the calculation for the payment month crossed the first February 28th mark on the Payment Schedule. This issue has been resolved and the number of days in the payment period is now being calculated correctly for loans that meet the criteria described above.
Migration
When updating to Encompass 22.2.0.1, the calculation update described above is applied only to existing loans that have not yet been disclosed to the borrower. The calculation update is not applied to loans that have been previously disclosed to the borrower.
CBIZ-46433
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