Release Highlights
MAJOR FEATURES
PPE : Revise the Pricing Result screen and introduce Marketplace pricing. (HOT-18870)
In the latest release, we've made significant improvements to the pricing results screen, enhancing its functionality. Additionally, we've introduced Marketplace pricing to provide users with a broader range of options and increased flexibility.
- Introduced marketplace lender pricing, which offers brokers the option to compare multiple products, rates and fees.
- Added search product option to Pricing result screen
- Provide an option to add compensation for Broker Lenders from the pricing screen only.
- Repositioned floating 'Price Loan' and 'Re-Price Loan' button to the centre of the screen
- Design has been improved in the Compare pop-up, including the Apply button, along with other minor enhancements
- The Download and Send Quote buttons on the Mortgage Quote screen are now floating and positioned in the center. Additionally, the Include Fee option has been moved to the left panel.
PPE : Redesign Pricing Template search and save. (HOT-18860)
The scenario feature has undergone enhancements, including an improved naming convention and various design updates. These improvements aim to provide a more streamlined and user-friendly experience, ensuring that users can easily navigate and utilize the enhanced capabilities of the scenario feature.
- The option to 'Save Scenario' is now accessible prior to pricing.
- While saving a scenario, the scenario name is automatically filled with details, allowing the user to override them if needed.
- Renaming or deleting templates is permissible directly from the scenario page, and any changes made will synchronise with pricing templates in user settings.
PPE : Estimated Mortgage Insurance enhancements. (HOT-20018)
- The pricing scenario screen now includes an "Estimated MI" checkbox, visible exclusively when the mortgage type is conventional and LTV exceeds 80%.
- By default, the "Estimated MI" checkbox remains unchecked. When pricing is conducted with estimated MI unchecked, the '+ Add' option for MI should be displayed in the product list.
- A tooltip denoting the estimated status is now incorporated with PITI in the product row when estimated MI is unavailable. MI will be automatically calculated for specific lenders (UWM, Newrez Wholesale, and Pennymac), and the estimated tooltip will not appear with PITI.
- When pricing with estimated MI checked, all lenders will have some MI calculated, and an edit icon will be visible.
- The MI edit option will exclusively appear when the mortgage type is conventional and LTV exceeds 80%.
Conduct a Qualified Mortgage check on loan files. (HOT-944)
ARIVE enables the generation of a Qualified Mortgage (QM) report to ensure that a mortgage aligns with the requirements set forth for Qualified Mortgages.
- Added 'RUN QM Test' on the Review Fee screen, which generates a report based on the following parameters as:
- Additionally, users have the capability to print reports and view the Quality Mortgage (QM) history.
| Parameters | Qualification |
| Fees |
|
| APOR | QM-eligible loans must have an APR below a threshold, which is set based on the Average Prime Offer Rate (APOR) when the loan is locked. |
| HPML |
|
| ARM | It should be a ARM Loan |
Program Features | Prohibited Features
|
How Thresholds are Calculated ?
| Parameters | Threshold Calculation | ||||||||||||||
| Points and Fee Test | Fees caps are adjusted annually and available on the Federal Register. Recommend calendar reminder to obtain new thresholds on an annual basis in December. Threshold is based upon Amount Financed from #1 and applies to first and second fixed loans. Funded Loans in 2024
| ||||||||||||||
| APOR Test | QM test “APOR Threshold” needs to calculate the difference between the file’s APR and the Average Prime Offer Rate (APOR). Thresholds are set annually and will need to be recalculated based on estimated closing date. Calculation method is based on values in (APOR, Lien Position, Property Type, and Loan Amount) fields. Calculation will be: Threshold = APOR + Margin (determined by table below) If Loan APR >= Threshold, then Fail
| ||||||||||||||
| HPML Test | HPML (Higher Priced Mortgage Loans) have additional requirements (must Escrow, must Order Appraisal, etc. The test for comparison is based on comparison between APOR and APR, based on Lien Position, Occupancy & Size. HPML Threshold = APOR + Margin (1.500, 2.500, 3.500) If Loan APR >= Threshold, then Fail Applicable Margin
| ||||||||||||||
| APM Test | For ARM Test to pass, Initial Adjustment Period should be more than 60 months | ||||||||||||||
| Program Feature Test | For Program Features Test to pass, a loan shouldn’t contain any of the prohibited features. The list of Prohibited Features are as follows:
|
Revenue reports revamp. (HOT-17967)
A provision has been added to generate multiple revenue reports, similar to pipeline reports. Additionally, users now have the capability to share, clone, and edit these reports.
- Revenue reports will only be visible to Company Admin and Payroll users.
- Users should be able to create multiple reports with distinct name, visibility, filters and columns.
- Users should be able to clone reports.
- Users are allowed to delete reports. However, this option is not available for shared reports.
- Users can configure the number of columns/attributes for each report in the 'Manage Column'.
- Users can export reports with the selected attributes into CSV format.
Pipeline Report: More attributes added to pipeline export. (HOT-19672)
Added the following attributes to the pipeline report for displaying data in the grid/export:
| Group | Attributes |
|---|---|
| Primary Borrower | Primary Borrower Employer Street Primary Borrower Employer City Primary Borrower Employer State Primary Borrower Employer Zip |
| Co - Borrower | Co-Borrower Employer Street Co-Borrower Employer City Co-Borrower Employer State Co-Borrower Employer Zip |
| Business Contacts | Seller First Name Seller Last Name Title company (Formerly Title Insurance Company Name) Closer Contact Name (Formerly Title Closer Contact Name) Closing Location Full Address (Formerly Title Closing Location Line 1) Above (Formerly Title Closing Location Line 2) |
| Company | Loan Officer State License Number |
| Loan Status | Loan Status Date |
| Loan | Interest Rate Buy-down |
Trigger a new ZAPIER event upon modification of Audit and Date fields. (HOT-17362)
Added a new ZAPIER Trigger event - 'Loan Date Updated' in ARIVE. This trigger will activate for the following dates throughout the application:
- Audit & Dates - TRID/Compliance
- Audit & Dates - Document Dates
- Audit & Dates - Lock Dates
- Audit & Dates - Other Key Dates
Capture Loan Detail Report in the disclosure generated via Doc magic. (HOT-19474)
- Users can now access the Loan Detail Report in disclosure packages. This form provides comprehensive loan details, exclusive to the Initial Disclosure, Pre-Closing, and Closing Packages and not included in CD and LE.
- E-signature Restriction: The form Loan Detail Report cannot be electronically signed by any party, ensuring that sensitive loan information remains unaltered and secure throughout the disclosure process.
- Borrower Visibility Restriction: The form Loan Detail Report will not be displayed to borrowers during the disclosure process, preserving confidentiality and preventing unnecessary confusion or information overload for borrowers.
Dashboard enhancements. (HOT-20204)
- The default filter for 'Client Needs Pending' will be changed to 'Prospect'.
- In the 'Contingencies' card , the dialog will now default to sorting based on Contingency Date in ascending order.
- A new filter, 'Last 12 months', will be added to the 'Pipeline Status'.
- In the 'Contingencies' dialog box (Loan, Appraisal, Closing), the loans due in next 10 days will be visible.
- In the 'Client Needs Pending', 'Conditions pending', and 'Contingencies' sections, the term 'Processing & Closing' will be replaced with 'Processing'.
Add Condo Management/HOA Manager and Property Manager to Business Contact Type. (HOT-16015)
Two new Business contact types, namely 'Condo Management/HOA Manager' and 'Property Manager' have been added to the list of Business contact types.
Import Lead enhancements. (HOT-17105)
Lead Import has been enhanced with following changes as:
- Validation has been added for email addresses, phone numbers, first names, and last names.
- Users are restricted from importing more than 1000 leads at once.
- The file format for import and export has been changed to '.xlsx' from '.csv'.
- The 'Primary Lead Owner' column has been renamed to 'Primary Lead Owner Email' in both exported and sample files.
Import Business contact upgradation. (HOT-13223)
Business Contact Import has been enhanced with following changes as:
- Validation has been added for email addresses, phone numbers, company name and type.
- The sample Excel file will include drop down to select Contact type and Company type.
- The file format for import and export has been changed to '.xlsx' from '.csv'.
- Users are restricted from importing more than 1000 leads at once.
- If the contact is a Real Estate Agent, Closing Agent, Attorney, Escrow Agent, or Title Agent then Company type and Name are required.
Allow the user to generate a COC even if the last active search was not for a COC. (HOT-20165)
Allowed to generate a Change of Circumstance document even in scenarios, where no active COC sessions are detected, but only after the generation of the Loan Estimate.
UWM MISMO update: Handle full name in borrower. (HOT-19814)
Handled a case in UWM MISMO update by setting the full name as a combination of the first name and last name if the full name does not exist in MISMO.