Encompass 23.2 Release Notes - Banker Edition

What's in This Release

Highlights of this release include the following:

• Improved Delivery of Year-End Compliance Updates - Enhancements have been made in Encompass to deliver year-end compliance updates seamlessly without the need for a critical patch update.

• Increase to Index Rate Decimals to Support the SOFR Index - The LIBOR index rounds values to three (3) decimals, which current Encompass Index % fields (field ID 688) use for calculations. In Encompass 23.2, the SOFR index, which rounds values to five (5) decimals, is now supported as well.

• Updates to DU and LPA Calculations of LTV, CLTV, and HCLTV for Special Loan Types - Updates have been made to enable users running Fannie Mae DU or Freddie Mac LPA to use different calculations for LTV, CLTV, and HCLTV that match the calculations used by DU or LPA for affordable loans and other special types of loans.

• New Authorized VOI and Authorized VOA Fields Added to Borrower Summary - Origination Input Form - New Authorized VOI (Verification of Income) and Authorized VOA (Verification of Assets) fields are now provided in the Verification Information section of the Borrower Summary - Origination input form. These eight fields for Authorized VOI and Authorized VOA information were added to capture the indicator and date that the borrower authorizes the VOI and VOA. This information is provided from the Verification of Income / Verification of Assets data entered in the loan file in Encompass Consumer Connect.

• New Option to Omit or Include Leap Year When Calculating HELOC Loan Daily Periodic Rate - A new checkbox has been added to the HELOC Management input form to provide users with an option use a leap year calculation (366 days) or to not use a leap year calculation (365 days) when Encompass calculates the Daily Periodic Rate for HELOC loans.

• New Rescission Detail Fields Added to RegZ-CD Input Form - Five new fields have been added to a new Rescission Detail section at the bottom of the RegZ-CD input form. These new fields enable users to record details about the act of rescission, including whether the consumer waives rescission or exercised their right to rescind.

• Ability to Enter Any Day of the Month for Paid to Date and First Payment Date Added to the Correspondent Purchase Advice Form - The Paid to Date and First Payment Date on the Correspondent Purchase Advice Form can now be set to any day of the month as long as it does not violate the validations implemented for the fields.

• Void Lock for Retail and Wholesale Channels - Pricing events in the Retail and Wholesale channels can now be undone and the lock can be returned to its previous state.

• Trade Update Queue for Loan Trades and MBS Pools - The update process for loan trades and MBS pools has been moved from a Client side queue to a Server side queue to improve overall performance.

• New Option to Enable Multi-Factor Authentication for Encompass Consumer Connect Admin Portal - Encompass administrators can now enable or disable multi-factor authentication (MFA) for the Encompass Consumer Connect Admin Portal where they and authorized users can set up and configure settings for their Encompass Consumer Connect websites.

• New Personas Setting to Manage Access to Encompass Consumer Connect Admin Portal - In the Personas settings, a new option, WebAssistant, has been added to the Consumer Connect tab. Administrators can select this option to enable users assigned with the persona to log into the Consumer Connect Admin Portal with their Encompass instance ID and user credentials.and assist loan officers with incomplete applications and borrower lookups.

• New ‘Residential Mortgage Lenders’ License Type for North Dakota Added to Encompass Settings - The new North Dakota Residential Mortgage Lenders license type is now available in the Encompass Settings where administrators can add their residential mortgage lender license information. North Dakota Senate Bill 2090, effective March 23, 2023, requires residential mortgage lenders to obtain a residential mortgage lender license.

• Improved Delivery of Year-End Compliance Updates - Enhancements have been made in Encompass to deliver year-end compliance updates seamlessly without the need for a critical patch update.
  • QM and HOEPA Threshold Adjustments - As new guidelines are provided by the CFPB, the Federal Threshold Adjustments table in Encompass Settings table will be updated accordingly. Encompass customers will be notified when new data is available to synchronize with their Encompass instance.
  • New Automated Verbiage on Section 32 HOEPA for Points and Fees Test - Based on the year, the maximum threshold dollar amount and the maximum fees allowed dollar amounts used in the Points and Fees Test section of the Section 32 HOEPA input form will now be updated automatically in Encompass (once guidance is provided by the CFPB). Each year, the dollar amounts used in the Points and Fees test may be adjusted and will be effective January 1 of the upcoming year.

• Increase to Index Rate Decimals to Support the SOFR Index - The LIBOR index rounds values to three (3) decimals, which current Encompass Index % fields (field ID 688) use for calculations. In Encompass 23.2, the SOFR index, which rounds values to five (5) decimals, is now supported as well. This update includes a new Encompass Admin Tool setting and updates to new and existing fields (in desktop and web versions of Encompass) to use five decimals.

• Updates to DU and LPA Calculations of LTV, CLTV, and HCLTV for Special Loan Types- Updates have been made to enable users running Fannie Mae DU or Freddie Mac LPA to adjust LTV, CLTV, and HCLTV values to match the calculations used by DU or LPA (i.e., Agency guidelines) under special circumstances (i.e., affordable loans and other special types of loans)..

• New Authorized VOI and Authorized VOA Fields Added to Borrower Summary - Origination Input Form - New Authorized VOI (Verification of Income) and Authorized VOA (Verification of Assets) fields are now provided in the Verification Information section of the Borrower Summary - Origination input form. These eight fields for Authorized VOI and Authorized VOA information were added to capture the indicator and date that the borrower authorizes the VOI and VOA. This information is provided from the Verification of Income / Verification of Assets data entered in the loan file in Encompass Consumer Connect.

• New Option to Omit or Include Leap Year When Calculating HELOC Loan Daily Periodic Rate - A new checkbox has been added to the HELOC Management input form to provide users with an option use a leap year calculation (366 days) or to not use a leap year calculation (365 days) when Encompass calculates the Daily Periodic Rate for HELOC loans.

• New Rescission Detail Fields Added to RegZ-CD Input Form - Five new fields have been added to a new Rescission Detail section at the bottom of the RegZ-CD input form. These new fields enable users to record details about the act of rescission, including whether the consumer waives rescission or exercised their right to rescind.

• Ability to Enter Any Day of the Month for Paid to Date and First Payment Date Added to the Correspondent Purchase Advice Form - The Paid to Date and First Payment Date on the Correspondent Purchase Advice Form can now be set to any day of the month as long as it does not violate the validations implemented for the fields.

• Void Lock for Retail and Wholesale Channels - Pricing events in the Retail and Wholesale channels can now be undone and the lock can be returned to its previous state.

• Trade Update Queue for Loan Trades and MBS Pools - The update process for loan trades and MBS pools has been moved from a Client side queue to a Server side queue to improve overall performance.

• New Option to Enable Multi-Factor Authentication for Encompass Consumer Connect Admin Portal - Encompass administrators can now enable or disable multi-factor authentication (MFA) for the Encompass Consumer Connect Admin Portal where they and authorized users can set up and configure settings for their Encompass Consumer Connect websites.

• New Personas Setting to Manage Access to Encompass Consumer Connect Admin Portal - In the Personas settings, a new option, WebAssistant, has been added to the Consumer Connect tab. Administrators can select this option to enable users assigned with the persona to log into the Consumer Connect Admin Portal with their Encompass instance ID and user credentials, .and then assist loan officers with incomplete applications and borrower lookups.

• Update to Persona Access Options for AIQ and AIQ Analyzers - Administrators can now provide access to AIQ Analyzers only if required. In previous versions of Encompass, administrators could not provide access to AIQ Analyzers without also providing access to AIQ Desktop or AIQ Web. This enhancement provides more precise access options to administrators when determining access to AIQ and AIQ Analyzers.

• New ‘Residential Mortgage Lenders’ License Type for North Dakota Added to Encompass Settings - The new North Dakota Residential Mortgage Lenders license type is now available in the Encompass Settings where administrators can add their residential mortgage lender license information. North Dakota Senate Bill 2090, effective March 23, 2023, requires residential mortgage lenders to obtain a residential mortgage lender license.

• Trade Tolerance Validations Added to SMOS and SDK - Validations to ensure trade tolerance values do not exceed 100% or contain a negative value have been added to the Tolerance Control Option fields on the Encompass Settings > External Company Setup > Company Details > Commitments tab. When a correspondent trade is created or updated via the SMOS "method" of the Correspondent Trade API or the SDK and a Tolerance value is passed, the validations are performed to ensure the tolerance does not exceed 100% or contains a negative value.

• Refer to the Encompass Field Look Up self-service tool in the Resource Center for a list of input form fields in Encompass.

System Requirements & SDK Upgrade Requirement for Encompass

Have you reviewed the latest System Requirements and upgraded the SDK?

Before downloading or applying this new Encompass release, it is important to verify the latest system requirements for Encompass client machines. Please review the System Requirements for Encompass to ensure your environment meets the requirements needed to operate Encompass successfully.

Install Files and Downloads

Visit the Encompass SDK and Other Install Files page to access the latest download links to the SDK and common tools, including eFolder print drivers and the Encompass Document Converter.