Release Notes Change Log for Version 24.1 (Banker Edition)

Change Date: 4/15/2024

Details: The first paragraph of the Updated Calculation for Estimated Construction Interest Amount entry on the Feature Enhancements page was updated.

Current Entry: 

Changes have been made to the Estimated Construction Interest (field ID 4088) calculation in Encompass. This change only affects Construction Only loans where the Estimated Interest On (field ID SYS.X6) is set to Method B (Full Loan). With this update, the calculation logic for field 4088 is calculating from the estimated closing date (field ID 763), or if that is blank, from the disbursement date (field ID 2553) to the final construction payment date (field ID 1961) for 365/360 (new behavior) and 365/365 (new behavior) loans. This update is being made to ensure that the Estimated Construction Interest calculation includes the final construction pay date (field ID 1961).

Previous Entry:

Changes have been made to the Estimated Construction Interest (field ID 4088) calculation in Encompass. This change only affects Construction Only loans where the Estimated Interest On (field ID SYS.X6) is set to Method B (Full Loan). With this update, the same calculation logic for field 4088 is now used for 360/360 (existing behavior), 365/360 (new behavior) and 365/365 (new behavior) loans as well. This update is being made to ensure that the Estimated Construction Interest calculation includes the final construction pay date (field ID 1961).

Change Date: 4/2/2024

Details: A new Fixed Issues for Version 24.1.0.2 Server Patch 2 section was added to the Fixed Issues page to describe updates to the initial Encompass 24.1 release to address issues discovered during pre-release testing.

Change Date: 4/2/2024

Details: The Updated Calculation for Estimated Construction Interest Amount entry on the Feature Enhancements page was updated to specify that the change in calculation logic only affects Construction Only loans where the Estimated Interest On (field ID SYS.X6) is set to Method B (Full Loan).

Change Date: 3/20/2024

Details: A new Fixed Issues for Version 24.1.0.1 Server Patch 1 section was added to the Fixed Issues page to describe updates to the initial Encompass 24.1 release to address issues discovered during pre-release testing.

Change Date: 3/20/2024

Details: The following new entry was added to the Fixed Issues page:

Issue Addressed: Error Triggered when Ordering Closing Documents with Encompass eClose

Users utilizing Encompass eClose to order closing documents in certain loans were receiving error messages during the loan audit that prevented them from completing the process. The cause of this issue (related to the loan XML file size) was identified and this issue has been addressed. The error message will no longer be triggered during the loan audit due to this XML file size issue.

Change Date: 3/20/2024

Details: The following entries have been updated:

• The new Disclosure Compliance Alerts entry on the New Features and Forms page has been updated about the requirement for a scheduler and workflow rule to be set up in order for disclosures to be sent automatically when the Disclosure Ready Date field is populated.

• The Archived Loans No Longer Included by Default in Pipeline Views entry on the New Features and Forms page has been updated with new information about the new Loan Archive business rule that is provided out of the box with Encompass 24.1.

• The New Encompass Admin Tools Settings for Automated Data Completion entry has been updated with a link to knowledge article #000115391 - 24.1 Home Counseling Providers Automation for additional requirements and information about this feature.

• The HOEPA Status Now Indicated as Not Applicable for Second Homes and Investment Properties entry on the Fixed Issues page has been updated to correct the field ID referenced in the entry. The correct field ID is HMDA.X13. The original field ID provided was HMDA.X113.

Change Type: Updated entry

Change Date: 3/19/2024

Details: The sentence stating that the Encompass Product & Pricing Service does not currently support zero based par pricing has been removed from the note in the New Zero Based Par Pricing Section Added to Product and Pricing Setting Under Secondary Setup entry on the New Features & Forms page.

Change Type: New entry

Change Date: 3/14/2024

Details: The following new entry was added to the Feature Enhancements page.

New Batch email Notifications

In previous versions of Encompass, the loan officer for the loan would receive a separate email notification each time a borrower returned documents to them. Starting in Encompass 24.1, a batch service is run and loan officers will receive one email notification that includes information about all of the recently returned documents from the borrower. The service runs every two minutes and consolidates the received document information (including those returned via fax, scanner, upload, or eSign) into one email notification. This enhancement reduces email clutter and enables the loan officer to have a more complete view of received documents.

The email notifications include different sections that categorize the received documents by eSigned package, uploads, fax, and scanned documents.

Change Type: Updated entries

Change Date: 3/14/2024

Details:

• The Update for Business Rules Used for Populating HMDA Data to Input Forms entry on the Fixed Issues page has been updated to clarify that the issue this fix resolves impacts only those users who utilize APIs and business rules or DDM rules to populate HMDA Ethnicity, Race, and Gender fields.

• The NEWHUD.X1720 and NEWHUD.X1721 Fields No Longer Cleared When Loan Locked and Confirmed or Lock Extended entry on the Fixed Issues page has been updated with additional information about where the two fields are located in Encompass.

Change Type: Entry removed

Change Date: 3/14/2024

Details:The Update to Calculate the Paid By Field on Line 801 on 2015 Itemization entry on the Fixed Issues page has been removed since it is a duplicate of the Paid By Fields on the 2015 Itemization Can Now be Updated in Linked Loans entry currently provided on the Feature Enhancements page.

Change Type: Updated entry

Change Date: 3/7/2024

Details: The following new information was added to the Archived Loans No Longer Included by Default in Pipeline Views entry on the New Feature and Forms page page.

Loans that are archived are simply excluded from the initial Pipeline load for performance purposes. These loans are not being moved, and they can easily be retrieved by selecting the Include Archived Loans checkbox.

For more details and information about this archive feature, please review the 24.1 - Encompass : New Archive Feature FAQ knowledge article (KA #000115380).

Change Type: New entry

Change Date: 3/4/2024

Details: The following new entry was added to the Electronic Document Management section of the Feature Enhancements page.

New Audit Rule in Encompass

The Audit Rule You have entered an MI premium but did not enter 12 1’s on the Aggregate Setup screen that may be triggered when managing documents using the Encompass Docs Solution (EDS) has been replaced by a more complex calculation to alert Encompass users of incomplete data entry issues in more scenarios. The new audit rule supports Conventional, FHA, and USDA mortgage insurance paid monthly, quarterly, semi-annually, or annually, and alerts the user of potential incorrect data entry in most cases. Please note, mortgage insurance paid bi-weekly will currently not trigger the audit and data entry must be reviewed manually until this feature is added in a future update. The new Audit Rule is now titled You have entered an MI premium but did not fully complete the Aggregate Setup screen.

Any customization that users had made to the previous audit rule requires a new EDS Change Request Form (CRF) to be submitted to apply that customization to the new audit rule.

Change Date: 2/13/2024

Details: The following entries have been updated as follows:

• The Archived Loans No Longer Included by Default in Pipeline Views entry on the New Features & Forms page was updated with additional information about the automatic archiving of loans that have not been modified in three years or longer.

• The New Form Version Field Added to Request for Transcript of Tax Input Form (4506-C) entry on the New Features & Forms page was updated with a note regarding form 8821 being printed on letter size paper instead of legal size paper as it was in previous versions of Encompass.

• The Encompass eClose Now Enabled for All Encompass Docs Solution Users entry on the Feature Enhancements page was updated with information about the requirement for a PSO implementation in order to set up and maximize the effectiveness of eClosing for users.