MAJOR FEATURES
Add ability in system to calculate origination revenue for all Companies
- The system now includes a new menu option called "Funding/Revenue" for calculating various financial metrics, including "Net Funding Calculation," "Purchase Advice Received," "Warehouse Bank Settlement Statement," "Loan Revenue Calculation," and "Calculate LO Compensation.
- The Funding/Revenue option will only become visible when a loan is either locked or has expired.
- An option has been provided to download the Wire Worksheet and Revenue Report for a specific loan file. However, the download Revenue Report feature is restricted to Company Admins and Company Payroll users but download Wire Report feature is visible to all users.
- We have also added 'Include in Wire Calculator' and 'Include in Reimbursements' checkboxes in the Company settings and review fees.
- MCR Audit Data - The net SRP is now a non-modifiable field within the MCR Audit Data, but it can be edited within the Revenue/Funding section.
| SECTION | NONDEL | BROKER |
Origination Charges | - Include In Wire Worksheet - Reimbursement Fee | Reimbursement Fee |
Services Borrowers cannot Shop | - Include In Wire Worksheet - Reimbursement Fee | Reimbursement Fee |
Services Borrowers can Shop | - Reimbursement Fee | Reimbursement Fee |
Prepaid (Prepaid Interest,Mortgage Insurance Premium) | - Include In Wire Worksheet (Mandatory checked) | NA |
Initial Escrow Payment at Closing | -Include In Wire Worksheet | NA |
| NOTE: Include in Reimbursement Fee (checked) will be shown for Mortgage Insurance Premium, Lender Point/Credit, Funding Fee | ||
| FEATURE | CHANNEL | DESCRIPTION |
|---|---|---|
| Net Funding Calculation(Final CD Fees) | NON DEL |
|
| Purchase Advice Received | NON DEL |
|
| Warehouse Bank Settlement Statement | NON DEL |
|
| Loan Revenue Calculation | NON DEL |
|
| Calculate LO Compensation | NON DEL, BROKER |
|
Provided capability to access and download the revenue report for loans (in or after the Funded stage) to conduct an in-depth analysis of our organisation’s financial performance.
Users are provided with multiple filters, the ability to manage columns, and an export option to generate and view revenue reports for the organisation.
Capture Lead from Realtor Portal.
- This feature provides the ability for real estate agents to capture leads from the Realtor Portal."
- Only leads for purchases will be recorded from the Realtor Portal.
- Added the Lead Pipeline option to the Realtor Portal, which allows tracking of all leads created by or assigned to a specific REA agent.
- We've incorporated Realtor Portal access into the LOS Business Contacts Lead Pipeline, enabling broker users to manage Realtor access for specific business contacts.
Now, all the status dates in audits and loans must be in chronological order. If they are not, a warning will be displayed. We can also apply the same date for loan statuses consecutively. For Resubmittal and Approved with Conditions, the condition is as follows:
Submitted to UW Date <= (Greater of Re-submittal Date & Approved Date) <= Clear to Close Date
Furthermore, for suspended or adverse loans and optional dates, chronological order will not be followed.
We will now display information such as Appraisal Waiver and Property Data Inspection alongside Appraisal Waiver Eligibility in LPA and DO.
The following values will be displayed based on the results:
DU |
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LPA |
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We have introduced a new filter called 'Est. Closing Date' in the loan pipeline. This filter allows you to sort loans based on their estimated closing dates. Notably, the time periods 'Last 30 days,' 'Last 60 days,' 'Last 90 days,' and 'Last 180 days' will now encompass loans with future closing dates.
Earlier, in branch settings, there was no option to create custom forms. Now, we have added a new option for Form Lists under Forms Setup to create and edit custom forms in branch settings for branch admins.
Custom forms present in Company settings will be inherited by their associated Branches.
We are displaying the time with a rate lock date, similar to the rate lock expiration.
We have introduced new search functionality in Activity Logs, allowing users to search for logs of any specific type.
Updated the Import Borrower functionality as follows:
- Added a preview feature for borrowers when importing the file.
- Changed the file format from '.csv' to '.xlsx' (Excel file).
- Implemented validation checks for First Name, Last Name, and Email when importing Borrowers.
- Added an inline loader to the submit button for importing Borrowers, Leads, and Business Contacts."
ADDITIONAL ENHANCEMENTS
POS credit question to add a ranges of "Below 580" and "580-620".
Added two more credit ranges, 'Below 580' and '580-619,' for POS credit questions.
Fixed: The ability to remove TPP (Contract Processor) from the default role without having to add another user.