MAJOR FEATURES
Rule Engine: Add support for additional borrower fields. (HOT-24812).
- We have enhanced Automation Rules by adding support for multiple fields like demographics, gender, Current Address, Phone, Email etc related to Borrowers, Co-borrowers, and Context Borrowers. These fields have been integrated into the rule criteria and Actions: Required Fields.
- A new recipient token, "Borrower," has been added to the "Notify Someone" action. This token will automatically resolve to the context borrower when any borrower field is used. If no context borrower is specified, it will default to the primary borrower.
- For the trigger "Borrower Info Changes," the option "are added" has been updated to "is added," and "are removed" has been updated to "is removed.
Rule Engine: Add support for additional fields (Refinance). (HOT-24864).
New fields, 'Refinance Type' and 'Cash Out Purpose', have been added to Rule Criteria and the Required Fields Action. Both of these fields will be applicable exclusively to Refinance Loans.
Rule Engine: Add support for additional business contact fields. (HOT-24811).
New business contact fields have been added to the Required Fields section of automation rules, tailored to different business contact types:
- Address (City/State/Zip)
- Street Address
- Work Phone
- Company Address (City/State/Zip)
- Company Street Address
Rule Engine : Enhanced search experience with tokenised search. (HOT-23747).
As part of the improvement, the search experience in the Rule Engine dropdowns has been enhanced with tokenised search functionality.
Non Del: Allow adding warehouse bank details in company settings. (HOT-24781).
- A new feature has been introduced in the Company Settings under Non-Delegated: Warehouse Bank Rules. This section allows users to input warehouse bank details, including the bank's name, advance fee, advance interest, and haircut. Users can also establish rules based on mortgage type and loan amount.
- On the Funding/Revenue screen, users can select a warehouse bank from the company settings or manually enter the details. If a selected bank's configurations do not meet the mortgage type and loan amount criteria, the default haircut will be set to 1%, with the Warehouse Advance Fee and Interest fields remaining empty.
Generate Compliance Report Document via Docmagic on a loan. (HOT-23572).
As part of this update, a new document has been introduced under the review fee category: the Compliance Report.
Conditions for Previewing the Compliance Report:
- The loan must be at or beyond the “Loan Setup” stage.
- The Estimated First Payment Date, Estimated Closing Date, and Estimated Funding Date must be established.
- For Adjustable-Rate Mortgages (ARM), all ARM information, including the Initial and Subsequent Adjustment Periods, must be completed.
This report includes a calculation of the “Tolerance Cure Summary” for all associated fees, as detailed in the TRID Fee and Tolerance Chart V 4.
Capture Multiple Participant Data on Org setting and selection on IVES Form. (HOT-24899).
- Users can now add multiple IVES Participants under Organization Info > Company Settings.
- The added IVES Participants can be updated or deleted as needed.
- Additionally, within loans under Disclosure Forms > Tax Transcript, the dropdown field labelled "IVES Participant" will reflect these options, allowing users to select multiple participants
Add HELOAN mortgage type in application. (HOT-24390).
A new mortgage type, "HELOAN" has been added to LOS and PPE, with the default set as second lien to support the Closed-End Seconds (CES) product. Support for HELOAN has also been added in call reports with the following updates:
- Purchase HELOAN loans will be displayed in the report but will also be included under Discrepancies.
- i385 will include only First Lien/First Mortgage loans, along with HELOAN loans (Second Lien).
- HELOAN ARM loans will not be displayed in I110; only fixed-rate HELOAN loans will be shown.
ZAPIER: Added support for all business contact types. (HOT-24911, HOT-24745, HOT-
25068 ).
- All business contact type information can now be retrieved from the Get Loan Details API. When multiple business contacts with the same role are selected, only one business contact will be displayed in the Get Loan Details API response.
- The query for retrieving loan details was overloaded with unnecessary fields. Fields that are not required in the Get Loans API response have been removed to streamline the query.
- The Zapier API documentation has been updated to accurately reflect the current behaviour of fields within the platform.
Ability to Company Admin to configure roles that can manage Doc-magic Credentials. (HOT-24998).
A new feature has been introduced under Company Settings → Admin Controls: Restrict Editing of DocMagic Credentials. This enhancement allows Company Admins and Associate Admins to define which roles can add, update, or delete DocMagic credentials. By default, only the Company Admin and Owner will have access to manage these credentials.
Condition: Add ability to select custom client Needs. (HOT-25179).
Custom client needs will now be displayed in the Client Need Type list when creating a need from conditions.
UWM: Handle Expense Updates through UWM MISMO Update. (HOT-22881)
Support has been added to update, create, or delete expenses (such as Alimony, Child Support, Job-Related Expenses, Separate Maintenance Expenses, and Other Expenses) for existing loans using the UWM MISMO update.
POS: Enable borrowers to access the point of sale for task and e-signatures, even after the funding status has been reached. (HOT-22319).
Previously, POS users were not permitted to complete pending tasks when the loan was in the Funded, Broker Check Received, or Finalized states. However, POS users can now complete pending tasks even when the loan is in these states.
Additionally, when the loan is in the Funded, Broker Check Received, or Finalized states, the “Create New Application” option will not be displayed in the POS.
Allow to select contacts from loan team and business contacts when sending quote within loan. (HOT-25427).
As an enhancement to quotes, users can now select the loan team and business contacts from the list while sending a quote.
Review Fee > Allow Lock Originator Compensation percentage. (HOT-15797).
- Previously, adjusting the loan amount only affected the Originator compensation percentage, while the amount itself remained unchanged.
- Now, users can lock either the Originator compensation percentage or the amount according to their preference. When the compensation percentage is locked and the amount is not, any changes to the loan amount will adjust only the amount while keeping the percentage fixed, and vice versa.
Pipeline Reports: New filter option 'Channel' added. (HOT-25792).
A new filter, "Channel," has been added to pipeline reports, allowing users to filter loans based on the industry channel— Non-Delegated or Brokered.
Documents: Classification updates for Documents and Needs section. (HOT-22121).
In the Documents section, the following document classifications have been renamed (applicable only for new documents added after deployment):
- Borrower Info: 'VA 26-1880 - Certificate of Eligibility' has been renamed to 'Certificate of Eligibility.'
- Disclosures: 'Request of Cert Eligibility VA/FHA' has been renamed to 'VA-26-1880 - Request of Cert Eligibility VA/FHA.'
- Similarly, in Client Needs, the 'VA 26-1880 - Certificate of Eligibility' document type has been updated to 'Certificate of Eligibility' with an updated description.