January 2012 Release - Ellie Maehelp.elliemae.com/DocumentationLibrary/360/... · Streamline...

Broker Edition Release NotesJanuary 2012 Release (build 7.0.0.3/7.0.0.4)

Last Revised: 01-23-2012

Copyright Statement© 2012 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®, Encompass Compliance Service™, Ellie Mae Network™ and the Ellie Mae logo are trademarks or registered trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks of their respective owners. Products, services and programs are subject to change without notice.

Encompass360 Broker Edition Release Notes, January 2012 (build 7.0.0.3/7.0.0.4)Last Revised: 01/23/2012

i

Table of Contents

Encompass360 Broker Edition Release Notes ...................... 1Overview of Updates and Enhancements .............................................. 1Compliance Updates and Enhancements .............................................. 1Rate Lock Features ............................................................................ 3TQL Services Tool .............................................................................. 3Encompass Settings ........................................................................... 4Contacts ............................................................................................ 5Encompass360 Templates ................................................................... 5Encompass Appraisal Service Enhancements - Released 01-19-2012 ..... 6Encompass Product and Pricing Service ............................................... 7Additional Updates and Enhancements ................................................. 7Update 7.0.0.4 ................................................................................. 10Known Issues ...................................................................................11Detailed Procedures.................................................................... 12Enable the Don’t Copy Fees to GFE Setting ........................................ 12Update the FHA MI Table .................................................................. 12Download FHA County Limits Table .................................................... 13Add DBA Names .............................................................................. 13Use the NMLS Info Button in a Data Template ..................................... 14Monthly MI Fields in Data Templates .................................................. 14Set Up Merchant Accounts to Pay For Appraisal Orders ....................... 15Running Veros Quick Check on Appraisals .......................................... 16EPPS Customer-Specific Program Aliases and Program Codes ............ 18Lock Period Aliases .......................................................................... 18Insurance Total on 2010 GFE Now Displays Correctly .......................... 18

2010 Itemization ........................................................................ 18HUD-1 .......................................................................... 182010 GFE ................................................................................. 19

Encompass360 Release Notes Change Log ......................... 20Affected Entry .................................................................................. 20

Encompass360 Broker Edition Release Notes

January 2012 Hot Update (build 7.0.0.3/7.0.0.4)

The January 2012 hot update includes the key features described on the following pages. This document includes a high-level overview of key features and enhancements, followed by more detailed information and instructions where appropriate. Refer to the Encompass360 Broker Edition online help and the Documentation Library for additional information and related documents. In addition to these key features and enhancements, this document also provides information about the 7.0.0.4 update that is scheduled for release on January 23, 2012, and a section that describes known issues in the January 2012 hot update. To view the 7.0.0.4 section, click here. To view the Known Issues section, click here.

Overview of Updates and EnhancementsThe table below describes each change, indicates whether or not the change is automatically enabled, and describes any setup requirements. Click the page number links on the title lines to jump to detailed information if applicable.

Description of Feature AutomaticallyEnabled

Setup Requirements

Compliance Updates and EnhancementsChanged Circumstance and Copying 2010 Itemization Changes from Borrower to GFE Column page 12 If your Encompass360 administrator has set the After Disclosure Don’t Copy Fees to GFE option in the Admin Tools to Enabled and you have selected the Changed Circumstance check box on the 2010 GFE form, changes in the Borrower column on the 2010 Itemization form are no longer automatically copied to the GFE (Section #) column after a loan has been disclosed, unless one or more of the conditions listed below occurs:

• The Last Sent Date for the GFE (field 3137) is blank.

• The Borrower intends to continue with this loan check box (field 3164) has not been selected and the GFE Expiration Date (field 3140) is earlier than the current date.

• The value for the Rate Locked Date (field 761) is later than the value in the Last Sent Date for the GFE (field 3137).JRA-4017

Your Encompass360 administrator must enable the Admin Tool setting. Click the page number link in the left column to view detailed instructions.

1003 Page 2 Monthly Housing Expenses Calculations Adjusted for USDA Annual Fee and Other Taxes The calculations for the monthly housing expenses on the 1003 Page 2 have been adjusted so that the USDA Annual Fee is only included once in the payment calculation. Previously, when a user clicked the Edit icon for RE Taxes, selected the Override with Taxes from the HUD-1 Pg2/GFE check box (field USEGFETAX), and then entered other taxes, the USDA Annual Fee would be added to the entries for both RE Taxes (field 1405) and Other (field 254).

JRA-2772

None

Last Revised: January 23, 2012 1Encompass360 Broker Edition Release Notes

Total Lender Credit Line Added to the Itemized Fee Worksheet Output Form Additional fields have been added to the Itemized Fee Worksheet output form to allow the lender credit to display on the output form. The Total Lender Credit displays on page 2 of the Itemized Fee Worksheet output form, in the Transaction Summary section, below the FHA/VA Financed fee.

JRA-1412, JRA-3978

None

Increases in the Origination Credit Amount Correctly Copied to the Funding Worksheet Page 1 When the Origination Credit amount is increased on line 802 on the 2010 Itemization, the additional amount is now copied to the PTC amount shown at the bottom of the Funding Worksheet. Previously, increases in the amount were added to the Amount column on the Funding Worksheet, but were not copied to the PTC amount.

JRA-2616

None

Closing Costs on the Funding Worksheet and Funding Balancing Worksheet Changes have been made in the way closing costs are handled on the Funding Worksheet and Funding Balancing Worksheet to allow the Funder to accurately calculate the wire amount for funding the transaction and balancing with the settlement agent, accounting team, or warehouse bank.

When a fee is added to the 2010 Itemization or the 2010 HUD-1 Page 2 the full amount of the fee is now included in the Amount column on the Funding Worksheet input form, regardless of the selection made in the Paid By column or the PTC amount designated for the fee. If fees have the check box selected on the Funding Worksheet input form, the full amount of the fees will also display on the Funding Worksheet output form, and on the Funding Balancing Worksheet input and output forms.

JRA-1484

None

Updated Calculation Rules on the Downloadable FHA MI Table page 12 The downloadable Encompass360 FHA MI table has been adjusted to include calculation rules for loans with loan terms of 15 years or less with LTV ratios from 78.01 through 78.99. Previously, when a user clicked the Get MI button on the MIP/PMI/Guarantee Fee Calculation tool tried to pull in mortgage insurance information for a loan that met the criteria described above, an error message would display stating that the loan information did not meet any criteria in the MI tables.

JRA-3469

Your Encompass360 administrator must manually download the updated table.

Impounds Not Due at Closing Display in the REGZ-TIL All escrowed monthly tax and insurance payments are now included in the escrow totals in the Interest Rate and Payment Summary table on the REGZ-TIL input and output forms, even when the escrow amounts are not due at closing. Additionally, if a loan has escrowed payments, but none of the escrow amounts are due at closing, the Est. Taxes + Insurance (Escrow) check box is now selected on the REGZ-TIL input and output forms.

JRA-3681

None


Setup Requirements


Rate Lock FeaturesLock Date Field Copies to the Last Rate Set Date Field The Lock Date field on the Borrower Summary and the Interest Rate Date field on the USDA Management form (field 761) is now copied to the Last Rate Set Date field on the Borrower Summary and Section 35 HPML form (field 3253) for compliance testing purposes. Field 3253 remains editable so users can change the date as needed.

JRA-3441

None

TQL Services ToolChanges to Fields Published to TQL Portal to Help the Investor Identify Streamline Refinance Loans When a user clicks the Start Publishing to Investor button on the TQL Services tool, the fields listed below will be published to the TQL portal. Also, if a user saves and exits a loan that has already been published to an investor, the fields will be published to the TQL portal if they have changed.

• Loan Code (field 958)

• Purpose of Loan (field 19)

• Purpose of Refi (field 299)

• Refinance Type (field MORNET.X40)

• Documentation Type (field MORNET.x67)

Investors can then log on to the NetworkPlus website to view the values the Encompass360 user has entered in fields related to streamline refinance loans and verify that the loan does not have a 4506-T report because the loan is a streamlined refinance loan. The fields are added to the bottom of the loan data section at the top of the loan details page on the NetworkPlus website.

JRA-4106

None


Setup Requirements


Streamline Refinance Loans Can Be Published to Wells Fargo Without a 4506-T The TQL Services tool now allows users to publish streamline refinance loans without a 4506-T report when Wells Fargo is selected from the Investor drop-down list and the Start Publishing to Investor button is clicked. A loan is considered a streamline refinance loan when the Purpose of Loan (field 19) is Cash-Out Refi or No Cash-Out Refi and a user selects one of the field options below:

• Refinance Type (field MORNET.X40) option is Streamline Refinance (w/appraisal), Streamline Refinance (w/o appraisal), or Interest Rate Reduction Refinance Loan.

• The Documentation Type (MORNET.x67) is Streamlined.

• The Purpose of Loan (field 19) is No Cash-Out Refi and Purpose of Refi (field 299) is No Cash-Out Streamlined or No Cash-Out FHA Streamlined.

• The Loan Code (field 958) is IRRRL.

If a streamline refinance loan is published to Wells Fargo without a 4506-T report, and the loan is then changed so that it is no longer a streamline refinanced loan, publishing will stop and the loan will no longer be visible to the investor in the TQL portal unless a user orders a 4506-T report and clicks the Start Publishing to Investor button again.

JRA-4107, JRA-4108, JRA-4109,

None

Encompass SettingsUpdated List of Download Sites for FHA County Limit Tables page 13 The FHA County Limits setting in Encompass360 now contains an expanded list of HUD websites from which FHA County Limits tables can be downloaded. The HUD Web Site section of the setting allows administrators to select from four HUD sites based on the dates when each table is in effect. Administrators can also select the editable field at the bottom of the list to enter the URL for an alternate download site.

JRA-3915

Your Encompass360 administrator must download the appropriate table for the updated list of sites.

Adding DBA Names in the Company Information Setting page 13 Up to four additional DBA (doing business as) names for your company can be added in the Company Information section of the Company/User Setup setting. Previously, the fields for DBA name entry did not display when a user clicked the Add More button below the DBA Name field.

JRA-4333

None

Clear Compliance Alert Control Added to Settings A new control has been added to the Compliance Review Setup setting to allow administrators to select users who can clear compliance alerts. Users who have not been granted permission to clear compliance alerts will not be able to dismiss or snooze alerts within the Encompass360 loan pipeline and will not be able to clear compliance alerts within the compliance report viewer. In the Compliance Review Setup setting, a new Clear Alert column has been added to the Users tab. Select the check box to give a user permission to clear alerts.

JRA-2602

None


Setup Requirements


Personas Without Permission Can No Longer Access the Purchase Advice Form Via Alert Messages Users who have been denied access to the Purchase Advice Form tool can no longer access the tool via the Purchase advice form not reconciled alert message. Previously, if the Encompass360 administrator cleared the Purchase Advice Form and Create/Edit Template check boxes for a persona on the Forms/Tools tab in the Personas settings, the persona would still be able to access the tool by clicking the OK button when the not be able to access the form still be able to access to tool by opening the Purchase advice form not reconciled alert message, and then clicking the OK button.

JRA-3880

To Remove Access to the Tool:1. On the menu bar, click

Encompass, and then click Settings.

2. On the left panel, click Company/User Setup, and then click Personas.

3. Select a Persona, and then click the Forms/Tools tab.

4. In the Tools column, clear the Purchase Advice Form and Create/Edit Template check boxes.

ContactsEmail Notice Sent When Reassigning a Contact to Another User When a user reassigns a contact to another user, an email message is now sent to the user to whom the contact was reassigned, and an error message no longer displays. Previously, the contact would be reassigned, but an error message would state that an email notification could not be sent to the user to whom the contact was reassigned.

JRA-4366

None

Property Taxing Authority Correctly Populates from the Business Contacts When the Address Book icon is clicked on the Pay To field (VEND.X323) on the Aggregate Escrow Account input form to select the recipient of the Tax payment from your business contacts, the city in which the business contact is located now correctly copies into the field as part of the contact’s address.

JRA-3109

None

Encompass360 Templates2010 Itemization and 2010 HUD-1 Page 2 Accessible from a Data Template When creating a data template, administrators can now open the 2010 Itemization and 2010 HUD-1 Page 2 to configure the data that will be populated in those forms when the template is applied. Previously, some users were unable to open the 2010 Itemization and 2010 HUD-1 Page 2 forms from inside a data template.

JRA-4356

An Administrator must create a data template in the Encompass Settings under Loan Templates.


Setup Requirements


NMLS Button Works Correctly When Creating Data Templates page 14 When creating a Data Template, users can now click the NMLS Info button on the HMDA Information form in order to access the NMLS Report Information panel and enter information that will be populated from the data template. Previously, an error message would display when the button was clicked.

JRA-3795

None

Field Values Entered in the MIP/PMI/Guarantee Fee Tool in Data Templates Saved Correctly page 14 Encompass360 now correctly saves values entered in a Data Template on the MIP/PMI/Guarantee Fee tool. Previously, the percentage and number of months (field 1199 and 1198) in the first row of the Monthly Mortgage Insurance / USDA Annual Fee Premium section of the tool would clear after the changes were saved.

JRA-4066

None

Encompass Appraisal Service Enhancements - Released 01-19-2012Appraisal Order Fees Can Now be Charged to the Borrower Through Merchant Accounts page 15 A new Merchant Account option has been added to the Appraisal Service tool in Encompass Settings that enables the system administrator to set up a merchant account with a credit card processing company (for example, Blue Pay) that can be used to pay for appraisal orders. Once the account is set up, loan team members can charge the borrower’s credit card for the appraisal order before submitting the order request to an appraiser.

JRA, 1903, JRA-1909

To Select a Merchant Account Provider:1 On the menu bar, click

Encompass, and then click Settings.

2 On the left panel, click Additional Services, and then click Appraisal Service.

3 In the Merchant Account Setup section, select your Merchant Account provider.

NOTE: You must first contact and set up your account with a service provider before selecting the provider in Encompass Settings.

New Veros Pathway Service Quick Check Feature page 16If your appraiser sends you a MISMO UAD document along with your completed appraisal report, you can import both files to your loan. Once imported you can then click the new Appraisal Quick Check - Submit icon to run the appraisal report through a “quick check” powered by Veros Pathway Service that searches for UCDP (Uniform Collateral Data Portal) Hard Stops and UAD compliance issues. This way any potential issues in the report that would prevent the appraisal from being successfully submitted to Fannie Mae or Freddie Mac (through the UCDP portal) can be identified and fixed before it’s submitted.

JRA-1382

None


Setup Requirements


Encompass Product and Pricing ServiceCustomer-Specific Program Codes page 18 Encompass Product and Pricing Service administrators can now create customer-specific program codes in the Encompass Product and Pricing Service administrative settings. When users search for rates, they will view the customer-specific program code instead of the investor program code.

JRA-2653

None

Customer-Specific Program Aliases page 18Encompass Product and Pricing administrators can now create customer-specific program name aliases in the Encompass Product and Pricing Service to avoid exposing loan officers and lock desk personnel to investor-specific terms and product names. When users search for rates, they will view the alias instead of the investor program name.

JRA-2651

None

Enable Individual Investor Programs page 18Encompass Product and Pricing Administrators can enable or disable individual programs for investors. Previously the administrator could enable or disable all the programs for a specified investor, but could not enable or disable individual programs.

None

Customer-Specific Lock Period Aliases page 18 Encompass Product and Pricing Administrators can create default lock period aliases for each investor so that users will see a number of days for the lock period that is different fro the actual lock period. This setting can be used to set a lock period that appears to be shorter than the actual lock to ensure that the loan is closed well before the actual lock expiration date.

JRA-2652

None

Raw Investor Rate Sheets Viewable in EPPS by Encompass360 Lock Desk Users Users who have been granted permission can view raw investor rate sheets from the Summary tab in the Encompass Product and Pricing Service. Users can view the raw rate sheets by clicking the Click to view link for the Rate Sheet in the Price Information section. If you are an Encompass Product and Pricing Service administrators, contact their Ellie Mae representatives to enable viewing permissions for selected users.

JRA-856

Contact your Ellie Mae representative to enable the feature for selected users.

Additional Updates and EnhancementsDetails of Transaction Recalculate When 1st Payment Date Changed on RegZ/Closing RegZ The amounts in the Details of Transaction section on the 1003 Page 3 are now recalculated when a loan file is saved after the 1st Payment Date (field 682) has been changed on the REGZ-TIL or Closing RegZ form. Previously, the Details of Transaction amounts would not be recalculated until a user clicked the Aggregate Setup button on the 2010 Itemization or HUD-1 form, and then clicked OK.

JRA-3884

None


Setup Requirements


Milestone Completion Business Rules and Required Documents Users can now successfully complete a milestone when a document is required by a Milestone Completion Business Rule and specific check boxes have been selected on the Document Details window in the eFolder. Previously, under the conditions listed below, a message would display asking the user to complete the required documents before completing the milestone, even though the documents were already completed. The user would have to clear the Reviewed, Ready for UW, or Ready to Ship check box to complete the milestone.

• A document was required as part of a Milestone Completion Business Rule.

• In the eFolder, the Reviewed, Ready for UW, or Ready to Ship check box was then selected on the Document Details window for the document.

• The user then selected the Finished check box on the milestone worksheet.JRA-4271

None

Changes to the Details of Transaction No Longer Cause the Estimated Closing Costs to Clear When changes are made to the fields in the Details of Transaction section of the 1003 Page 3, the Estimated Closing Costs (field 137) is no longer cleared. Previously, changes to the Details of Transaction would cause the field to clear, and a user would have to save the loan file to have the closing costs repopulate the field.

JRA-3905

None

The Printed Itemization Worksheet Now Denotes POC Entries for Line 804 on the 2010 Itemization When a fee is entered as POC (paid outside closing) on line 804 on the 2010 Itemization form, the fee displays on the printed Itemization Worksheet with a P next to the fee to indicate that it is POC.

JRA-4239

None

Faster Entry of Milestone Worksheet Comments for Milestones with Multiple Required Documents When a milestone is associated with a large number of required documents, users can now enter comments in the Milestone Comments text box on the Milestone Worksheet without causing the list of Required Documents to refresh with each keystroke. The refresh issue resulted in delays in the typing process. Now the required document list will refresh only when there is a change to the Document Tracking record.

JRA-3466

None

Rate Lock Honored Check Box Added to State Specific Information - New York Form A new Rate Lock honored only if loan closes at least 3 business days prior to the Lock Expiration Date check box (field DISCLOSURE.X950) has been added to the State Specific Information - New York input form to allow a compliant New York Lock-In Agreement to be generated for the loan. Select the check box if you are a lender who will honor a loan on a New York property only if the loan closes three or more days prior to the rate lock expiration date.

JRA-4355

None


Setup Requirements


Borrower or Co-Borrower Phone Number Copied to Request for Tax Forms When the Copy from Borrower Summary button is clicked on the Request for Copy of Tax Return form or Request for Transcript of Tax form, the borrower or co-borrower phone number is copied from the Borrower Summary form into the field for the Phone number of tax payer on line 1a or 2a (field IRS4506.X27) at the bottom of the form. The phone number that is copied depends on the option selected from the Tax Form is for list at the top of the Request for Copy of Tax Return form or Request for Transcript of Tax form:

• If Borrower or Both is selected, the borrower’s phone number is copied to field IRS4506.X27.

• If Co-Borrower is selected, the co-borrower’s phone number is copied to field IRS4506.X27.JRA-2352

None

Co-Borrower Title Name Continues to Display When Verifs Added If there is a co-borrower name displayed in field 1602 in the Title will be Held section of the 1003 Page 1 and Rural Assistance URLA forms, the co-borrower name will continue to display after a VOD or VOL is added to the loan file. Previously, the co-borrower name in field 1602 would be cleared after a new VOD or VOL was created.

NOTE: The co-borrower name in field 1602 is populated from the co-borrower name in the primary borrower pair for the loan. If there is no co-borrower name in the primary pair, the name is populated from the first co-mortgagor in the borrower pair list. If you type a name in field 1602, be aware that the name may be replaced if changes are made to the co-borrower pair or co-mortgagor pair, or if a new verification is added.

JRA-3369

None

Bank of America to Be Removed from the eFolder Lender Selection List on February 15, 2012When a user clicks the Send to Lender button on the eFolder, Bank of America will no longer be available for selection on the list of lenders as of February 15, 2012. Bank of America is being removed from the list because they will no longer be accepting correspondent loans as of February 10, 2012.

None


Setup Requirements


Update 7.0.0.4Insurance Premium Total on the 2010 GFE Now Displays Correctly page 18 A form update was introduced in the Encompass360 7.0.0.3 hot update (released on January 17, 2012) where homeowner's, fire, flood, or other similar insurance premiums entered in the 900 section of the 2010 Itemization were now itemized and displayed on the HUD-1 Page 3 input form and printed output form. As a result of this new functionality, the calculation for the total insurance premiums in Block 11 on the 2010 GFE (field ID NEWHUD.x79) included only the homeowner's insurance from line 903 of the 2010 Itemization. It did not calculate and display the total amount of all the itemized insurance premium entries (lines 903, 904, and 906-909). This calculation issue has been fixed in the Encompass360 7.0.0.4 hot update. The total for all insurance premiums entered on lines 903, 904, and 906-909 of the 2010 Itemization now populates in the total insurance amount in Block 11 on the 2010 GFE (field ID NEWHUD.x79). In order to fix the calculation issue, the Homeowner's Insurance field in the GFE column on the HUD-1 Page 3 has been changed from NEWHUD.X79 to NEWHUD.X650. The field ID for the total insurance amount in Block 11 on the 2010 GFE input form (field NEWHUD.x79) has not been changed.To view “before and after” screens from Encompass360 that illustrate how the insurance charges displayed on the 2010 Itemization, 2010 GFE, and 2010 HUD-1 Page 3 in Encompass360 7.0.0.3 and how they display in 7.0.0.4, click here.The Encompass360 7.0.0.3 hot update was made available for download on January 17, 2012. If you were using version 7.0.0.3 of Encompass360 and disclosed the 2010 GFE with any insurance premiums besides homeowner's insurance in the 900 section, the total charges disclosed on the GFE and the HUD-1 page 3 comparison chart may be incorrect due to this calculation issue. To ensure these charges calculate correctly, download the Encompass360 7.0.0.4 hot update. Then open any affected loans and check to ensure the total insurance charges disclosed on the 2010 GFE accurately reflect the terms of the loan. If any discrepancies are found between these charges and the charges that were disclosed using version 7.0.0.3, we recommend you consult your compliance department for guidance.If you decide to redisclose the insurance charges for any affected loans, be sure to redisclose using the 7.0.0.4 version of Encompass360.

JRA-4862

None


Known IssuesPhone and Fax Information Manually Entered by Users on Verification Forms Does Not Copy to Output Forms

When a user manually overwrites the default data for the phone number (field 324) and fax number (field 326) on a verification input form, the manually entered information is not copied to the output form. The default phone and fax information configured in the Verification Contact Setup setting will print on the output form.

JRA-4566

Error Message When Attempting to Access the Verification Contact Setup Setting

An error message displays when Broker edition users attempt to access the Verification Contacts Setup setting. This issue will be resolved in a future Encompass360 release.

JRA-4864


Detailed Procedures

Enable the Don’t Copy Fees to GFE Setting To Enable the Setting:1 On the Windows task bar, click Start, point to All Programs, point to Ellie Mae

Encompass360, and then click Admin Tools.

2 Double-click Settings Manager. 3 If you are prompted to log in to the server, type the User ID, Password, and

Server that you use to log in to Encompass360 as the Admin user.

4 Select Policies from the Category list.

5 In the After Disclosure Don't Copy Fees to GFE setting, double-click the Values column, select Enable, and then click OK.

Update the FHA MI TableThe downloadable Encompass360 FHA MI table has been adjusted to include calculation rules for loans with loan terms of 15 years or less with LTV ratios from 78.01 through 78.99. To apply the changes in the calculation rules, the Encompass360 Administrator must manually download the updated table.

To Download the Encompass360 FHA MI Table:1 On the menu bar, click Encompass, and then click Settings.

2 On the left panel, click Tables and Fees, and then click MI Tables.

3 Click the FHA (Download) tab.

4 Click the Download button.

5 To replace your current FHA data with the new MI tables, click Yes when the confirmation box appears.

6


Download FHA County Limits TableUse the FHA County Limits setting to download the appropriate FHA County Limits table.

To Download the FHA County Limits Table:1 On the menu bar, click Encompass, and then click Settings.

2 On the left panel, click Tables and Fees, and then click FHA County Limits.

3 In the Find County field, type the name of the county you want to locate, and then click Find. For multiple counties with the same name, continue clicking Find until you locate the correct county.

• Or scroll down the list and select a county.

4 Select the Do not allow loan amount higher than maximum county limit to be entered check box to prevent users from entering a loan amount (in field 1109 on any form) that is higher than the county limit.

5 Select an update site from which data will be downloaded into your table.

• Select one of the default HUD (Housing and Urban Development) sites.

• Or select the editable field and enter the URL for an alternate site.

6 Click the Synchronize button, and then click the Save icon.

Add DBA NamesIf your company does business under different company names, you can enter as many as four names in the DBA Name fields. You can select one of the DBA names from drop-down lists on forms such as the 1003 Page 3 and the Affiliate Business Disclosure.

To Add DBA Names:1 On the menu bar, click Encompass, and then click Settings.

2 On the left panel, click Company/User Setup, and then click Company Information.

3 Type a name in the DBA Name field.

4 To add additional names, click the Add More button and then type a name in the new DBA Name field.


Use the NMLS Info Button in a Data TemplateWhen creating a Data Template, users can now click the NMLS Info button on the HMDA Information form in order to access the NMLS Report Information panel and enter information that will be populated from the data template.

To Create a Data Template Using the NMLS Info Button:1 On the menu bar, click Encompass, and then click Settings.

2 In the left panel, click Loan Templates, and then click Data Templates.

3 On the Data Templates screen, select the Public or Personal folder in which to add the template.

4 Click the New icon, type the name of the template, and then (with the new template selected) click the Edit icon.

5 On the Data Template Details window, type a Description.

6 Select HMDA Information from the list on the left, and then click the NMLS Info button in the right panel.

7 Type data in the Quick Entry window, and click Close when finished,.

8 To populate information to other forms, select an input form from the list on the left, enter required information on the form, and repeat the process for additional forms as needed.

9 When finished, click Save.

Monthly MI Fields in Data Templates Encompass360 now correctly saves values entered in a Data Template on the MIP/PMI/Guarantee Fee tool in the first row of the Monthly Mortgage Insurance / USDA Annual Fee Premium section.

To Enter and Save the Values:1 On the menu bar, click Encompass, and then click Settings.

2 In the left panel, click Loan Templates, and then click Data Templates.


3 On the Data Templates screen, select the Public or Personal folder in which to add the template.

4 Click the New icon, type the name of the template, and then (with the new template selected) click the Edit icon.

5 On the Data Template Details window, type a Description.

6 On the list on the left, select a form from which the MIP/PMI/GUarantee Fee tool can be accessed, such as the such as the 1003, Itemization, REGZ-TIL, or Closing REGZ-TIL

7 On the form, click the Edit icon for the MIP, PMI, or mortgage insurance entry.

8 Type data in fields 1199 and 1198, and complete other fields as needed.

9 Select other forms and enter additional data as needed.


Set Up Merchant Accounts to Pay For Appraisal OrdersSet up a merchant account to manage credit card and/or debit card transactions for appraisal orders. Before selecting and setting up your merchant account you must first contact your merchant account provider to learn about account requirements or setup prerequisites.

For specific instructions for setting up your account with a service provider, refer to the Set Up a Merchant Account topic in the Encompass360 online help.

Once the account is set up with your provider, you can then use the Appraisal Service tool in Encompass Settings to indicate that this merchant account is to be used for appraisal order fees.

To Indicate a Merchant Account Will be Used to Pay for Appraisal Orders: 1 On the menu bar, click Encompass, and then click Settings.


3 Click the Merchant Account Setup tab.

4 Select a provider from the Merchant Account drop-down list.

5 Click the Account Settings button to verify your Account ID and Secret Key, and then click OK.

NOTE: The Account ID and Secret Key are provided by your service provider.


To Authorize Users to Charge the Borrower for an Appraisal Order:Once you have set up your merchant account with a provider and indicated that you want to use a merchant account to pay for appraisal orders, you must authorize selected users to charge the borrower for an appraisal order. Users who are not authorized here will not see the Borrower Paid by option when ordering appraisals.

1 On the menu bar, click Encompass, and then click Settings.


3 Click the Merchant Account Setup tab.

4 Select one or more check boxes to specify which users are authorized to charge the borrower for an appraisal order.

To Charge the Appraisal Fee to the Borrower:For detailed instructions for ordering an appraisal through the Encompass Appraisal Service, refer to the Appraisal Services topic in the Encompass360 online help.

1 After selecting your appraiser, use the Order Appraisal window to complete the order details.

2 In the Order Information section, enter the date when the appraisal is due, and then select the Appraisal Type.

3 Use the Paid By drop-down list to select Borrower as the individual who will pay for the appraisal order.

4 When you select Borrower, the Payment Information button is enabled. Click the Payment Information button, and then enter the borrower's credit card and payment information.

5 Click Charge to charge the appraisal order fee to the borrower, and then click OK to close the confirmation message.

6 Enter a Message to include in the order email that is sent to the appraiser.

7 Click the Attachment icon to attach a document from your computer or the Encompass360 eFolder.

8 Click Submit Order.• The appraiser is notified via email that an order has been sent.

Running Veros Quick Check on AppraisalsIf your appraiser sends you a MISMO UAD document along with your completed appraisal report, you can retrieve and import both files to your loan in Encompass360. Once imported you can then click the new Appraisal Quick Check - Submit icon to run the appraisal report through a “quick check” powered by Veros Pathway Service that searches for UCDP (Uniform Collateral Data Portal) Hard Stops and UAD compliance issues. This way any potential issues in the report that would prevent the appraisal from being successfully submitted to Fannie Mae or Freddie Mac (through the UCDP portal) can be identified and fixed before it’s submitted.


To Run Veros Quick Check:1 In Encompass360, open the loan file.

2 On the Services tab, click the document icon to the right of the Order Appraisal button to open the Appraisal Order Status window, which has three sections:

• Orders – View a list of appraisal orders for the loan.

• Order History – When you select an order in the Orders section, the Order History section displays a list of activities related to the order, including the date and time when the activity occurred, the persons who initiated and received the action, the type of activity, comments related activity, and attachments associated with the activity.

• Send Comments to Appraiser – If your administrator has given you permission, use this section to send comments and file attachments to the appraiser.

3 Click the Import link in the Orders section to open the Order Update window to view the appraisal data and documents that are available to import.

4 In the Import Documents section, select the check boxes for the appraisal file and the MISMO document (in XML file format), and then click the Import button to retrieve and import the files.

NOTE: You must import the MISMO file in order to access the Veros Quick Check option in the next step.

5 Back on the Appraisal Order History window, click the Appraisal Quick Check - Submit icon (in the Attachments column, to the right of the MISMO link) to run the appraisal report through a “quick check” powered by Veros Pathway Service that searches for UCDP (Uniform Collateral Data Portal) Hard Stops and UAD compliance issues.

6 In the Appraisal Quick Check window, select the Form Type.

7 Select UAD from the Version drop-down list.

8 Select the Investors (Fannie Mae and/or Freddie Mac) to which the appraisal will be submitted.

9 Click Validate Report. The results display in the Quick Check Results window. Here you can identify any potential issues in the appraisal that would prevent you from successfully submitting the appraisal to Fannie Mae or Freddie Mac (through the UCDP portal).

You can return to the Appraisal Order Status window at any time and click the Appraisal Quick Check - View icon to view the Quick Check results again.


EPPS Customer-Specific Program Aliases and Program CodesEPPS administrators can now enable individual programs, and create and edit customer-specific program aliases and program codes for investor programs.

To Create Program Alias and Codes:1 On the Encompass Product and Pricing Service website, click the Admin tab

and then click the Programs tab.

2 Select a Lender from the drop-down list.

3 Type the name of the customer-specific alias and/or code for a program in the Program Alias or Program code field.

4 Create aliases and codes for as many programs as needed.

5 To enable a program, select the Enable check box.

NOTE: If a program is enabled, the alias will display in place of the program name or code.


Lock Period AliasesEncompass Product and Pricing Administrators can create default lock period aliases for each investor so that users will see a number of days for the lock period that is different from the actual lock period.

To Set Lock Aliases:1 On the Encompass Product and Pricing Service website, click the Admin tab

and then click the Lenders tab.

2 In the Lock Period Aliasing section, select a Lender from the drop-down list.

3 For the each entry for which you want to create an alias, retype the number in the Displayed column. This is the number of lock expiration days that the user will see.


Insurance Total on 2010 GFE Now Displays CorrectlyAs a result of new functionality introduced in 7.0.0.3, the calculation for the total insurance premiums in Block 11 on the 2010 GFE (field ID NEWHUD.x79) included only the homeowner's insurance from line 903 of the 2010 Itemization. It did not calculate and display the total amount of all the itemized insurance premium entries (lines 903, 904, and 906-909).This calculation issue has been fixed in Encompass360 hot update 7.0.0.4. The following screen shots show the entries as they display on the 2010 Itemization, HUD-1 Page 3, and 2010 GFE in the 7.0.0.3 and 7.0.0.4 hot updates.

2010 ItemizationThe screen shot below shows the premium entries on the 2010 Itemization for both the 7.0.0.3 and 7.0.0.4 hot updates. The entries are identical in both hot updates.

HUD-1 Page 3The screen shot below shows the premium entries as they appear on the HUD-1 Page 3 in the 7.0.0.3 and 7.0.0.4 hot updates. The entries are identical in both hot updates.


2010 GFEThe screens shot below shows the premium entries as they appear on the 2010 GFE in the 7.0.0.3 hot update. Notice that the insurance total for Block 11 includes only the homeowner’s insurance and does not include the other itemized insurance premiums listed below.

The screens shot below shows the premium entries as they appear on the 2010 GFE in the 7.0.0.4 hot update. Notice that the insurance total for Block 11 now includes all the itemized insurance premiums listed below.


Encompass360 Release Notes Change LogThis Change Log lists each release notes entry that has been added, deleted, or modified since the initial pre-release version of this document was published.

Affected Entry Date Change was MadeChange Type: Update

Details: In the New Setting to Configure Contact Phone Numbers on Verification Forms entry, the sentence at the end of the first paragraph describing manual entry of data was removed due to a known issue.NOTE: The New Setting to Configure Contact Phone Numbers on Verification Forms entry was eventually removed from the release notes due to another know issue described on page 11.

New Version:New Setting to Configure Contact Phone Numbers on Verification Forms

A new setting has been added to Encompass360 that allows administrators to select your company’s default contact phone number and fax number used in the From section on verification forms so that entities working with the verification forms can contact the appropriate person at your company to expedite questions and complete the forms. Your administrator uses the setting to select the user whose phone numbers will populate the phone number (field 324) and fax number (field 326) fields on the VOD, VOE, VOL, VOM, and VOR input forms.

Previous Version:

New Setting to Configure Contact Phone Numbers on Verification Forms

A new setting has been added to Encompass360 that allows administrators to select your company’s default contact phone number and fax number used in the From section on verification forms so that entities working with the verification forms can contact the appropriate person at your company to expedite questions and complete the forms. Your administrator uses the setting to select the user whose phone numbers will populate the phone number (field 324) and fax number (field 326) fields on the VOD, VOE, VOL, VOM, and VOR input forms. The information can be manually changed by the user as needed, and the information will be populated to the output forms.

1-17-2012

Change Type: New Section

Details: A new Encompass Product and Pricing Service section was added to page 7 with four entries describing Encompass Product and Pricing Service features that are being released at the same time as the Encompass360 January Hot Update.

1-17-2012


Change Type: Encompass Appraisal Service Enhancements section added

Details: A new Encompass Appraisal Service Enhancements section was added to page 6 with two new entries describing enhancements that were added to the Encompass Appraisal Service on January 19, 2012:

• New Merchant Account Setup option that can be used to process payments for appraisal orders.

• New Veros Pathway Service Quick Check feature that can be used to check appraisals for UCDP (Uniform Collateral Data Portal) Hard Stops and UAD compliance issues. This way any potential issues in the report that would prevent the appraisal from being successfully submitted to Fannie Mae or Freddie Mac (through the UCDP portal) can be identified and fixed before it’s submitted.

Detailed instructions for using both of these new items were also added to this document, starting on page 15.

1-20-2012

Change Type: New section and new entry

Details: A new section was added on page 10 and a new entry was added to the Detailed Procedures section on page 18 describing the 7.0.0.4 hot update.

1-23-2012

Change Type: Entry removed

Details: The following entry was removed due to a know issue with the Verification Contacts Setup setting, and the entry describing the step-by-step procedure for using the setting was removed from the Detailed Procedures section.

New Setting to Configure Contact Phone Numbers on Verification Forms A new setting has been added to Encmpass360 that allows administrators to select your company’s default contact phone number and fax number used in the From section on verification forms so that entities working with the verification forms can contact the appropriate person at your company to expedite questions and complete the forms. Your administrator uses the setting to select the user whose phone numbers will populate the phone number (field 324) and fax number (field 326) fields on the VOD, VOE, VOL, VOM, and VOR input forms. The information can be manually changed by the user as needed, and the information will be populated to the output forms.

If the phone numbers are deleted on the input form, the input form fields remain blank, but the output form fields are populated with the default numbers from the Company/User Setup setting. The numbers from the Administration folder in the Organization hierarchy in the Organization/Users setting will be used first. If the Administration folder has no numbers entered, then the numbers from the Company Information setting will be used.

1-23-2012


January 2012 Release - Ellie Maehelp.elliemae.com/DocumentationLibrary/360/... · Streamline...

Documents

Transcript of January 2012 Release - Ellie Maehelp.elliemae.com/DocumentationLibrary/360/... · Streamline...