Toggling Between URLA 2020 and 2009 Loan Applications Before the URLA 2020 Effective Date

Administrators can toggle between URLA versions prior to the mandated implementation date. For example, when testing an URLA 2020 loan application workflow, an administrator might toggle between versions.

When toggling between URLA versions, keep the following points in mind:

  • Logic has been added to Encompass and Encompass Consumer Connect to ensure that data is captured correctly when users toggle between URLA 2009 and URLA 2020 application versions. However, because different types of information are required by URLA 2009 loan applications and URLA 2020 loan applications, you may encounter data gaps or data overlaps when switching between the old and new version of the URLA applications.

  • The URLA 2020 loan application resembles the form style loan application. Conversion from 2009 form style to the URLA 2020 loan application has fewer data gaps than when converting from the interview style loan application. With the interview style loan application some fields are leading questions and are not directly mapped to an Encompass field ID and some fields are calculated fields in the URLA 2020 version. Refer to the Encompass Consumer Connect URLA Field Guide to learn about the changes between loan application styles and versions.

  • Field ID 1825 specifies the URLA version of the loan application. When a loan application is submitted, Encompass checks field ID 1825 to determine whether to save it as URLA 2009 or URLA 2020.

  • Changing the URLA version in a loan application workflow impacts new loan applications only.

  • There is no migration of draft applications. For example, draft applications that were started as URLA 2009 will be completed as URLA 2009. Note that draft loan applications will be migrated only after the URLA effective date.

To Enable the URLA 2020 Loan Application in a Workflow:

  1. In Encompass Consumer Connect Admin, go to Loan App Workflows.

  2. Create a new workflow or select the click the Edit icon () next to an existing workflow.

  3. Select URLA 2020 as the version of the application you would like to use.

    A migration message immediately appears.

  4. Click Yes to migrate the current workflow settings to the URLA 2020 version. This means that any customizations made to the URLA 2009 loan application (such as changed titles and fields names, required fields, custom fields, and so on) except for Services settings, will be carried over into the URLA 2020 loan application.

    OR

    Click No to use the default URLA 2020 loan application.

  5. Click Save.

Converting URLA 2009 Draft Applications to URLA 2020

Beginning with the Encompass Consumer Connect 19.3 release, your company’s operations and delivery teams can control the rollout of the URLA 2020 loan applications per your investors’ guidelines. As it is rolled out, draft loans are in the URLA 2009 interview and/or form style formats. Those loan applications maintain the URLA 2009 format, and nothing happens to the loan applications or the data in them unless your company decides to convert them to the URLA 2020 form format.

Operational Issues to Consider When Converting Loans to the URLA 2020 Version

Eventually your company will select a date when using the URLA 2020 version is mandatory for new loans. All loans created on or after the implementation date use the URLA 2020 format. Existing loans will retain the URLA 2009 form format after the conversion date unless your company decides to convert those loans.

Important considerations before migrating URLA 2009 loan applications to the URLA 2020 form:

  • Review your URLA 2009 loan application workflows to understand the impact of the new and changed options for verifications and other URLA 2020 form fields. Determine how will this affect your company’s business rules and integrations. New and changed fields are described in the Encompass Consumer Connect Field Information guide.
  • Review the use of Other for existing loan entries that do not match new options in the URLA 2020 verification input forms.
  • Some VODs may become VOOAs
  • Documenting REOs
  • Other assets