Feature Enhancements in Version 24.1 (Broker Edition)

The Application Date field (field ID HMDA.X29) has been added to the 2018 HMDA Purchased Loans tab on the HMDA Information input form. (This tab displays in the input form when 6. Purchased loan is selected from the Action Taken drop-down list.) Previously, this field was only available on the 2018 HMDA Originated/Adverse Action Loans tab on this input form.

This field has been added to the Purchased Loans tab because in HMDA, Purchased Loans are expected to report NA for the Application Date since the application dates on purchased loans may happen one or more quarters or even years before the loan is purchased. NA is populated to this field by default. Authorized users may click the Lock icon, and then overwrite the NA value by manually typing or selecting a date from the calendar.

In previous versions of Encompass, when two loans are linked and one or more fees have been added to the 2015 Itemization input form, you cannot update the Paid By dropdown field for the fee directly on the input form. Instead, you must open the Fee Details pop-up window for the fee and then manually update the payment information. Encompass 24.1 has been updated to enable loan team members to update the Paid By dropdown selection for a fee directly on the 2015 Itemization input form in linked loans, just like you can for loans that are not linked.

(Updated on 4/15/2024)

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).

Please note, this update is strictly a correction to how Encompass calculates the number of days for collecting construction interests for 365/360 and 365/365 loans. The calculation used for 360/360 loans was already correct and has not changed. If you open an existing 365/360 or 365/365 loan file created prior to 24.1, the new interest calculation for field 4088 will be used so that the correct value is provided in the loan.

When printing the Amortization Schedule from Encompass, the value provided in the Resulting LTV% column is now rounded to three decimals to match the value provided in the Threshold/LTV% column in the Amortization Schedule viewable in Encompass. Previously, the Resulting LTV% value on the printed output form was rounded to four decimals.

Printed output form in 24.1

A No checkbox for the Borrower LDP/SAM Search field (field ID 3026) and the Co-Borrower LDP/SAM search field (field ID 3027) has been added to the FHA Management input form’s Tracking tab and the HUD-92900LT FHA Loan Transmittal input form to align with HUD’s FHA requirements. Select Yes if the individual is found in the LDP or SAM search or No if they are not found.

The following label changes have been made for three Freddie Mac options in the ARM Index Type dropdown field (field IDs 1959, 4512, LE2.X96) per Freddie Mac’s guidance:

• Freddie Mac PMMS US 15-Year Fixed Rate changed to Freddie Mac PMMS US 15-Year FRM
• Freddie Mac PMMS US 30-Year Fixed Rate changed to Freddie Mac PMMS US 30-Year FRM
• Freddie Mac PMMS US 5-Year Adjustable Rate changed to Freddie Mac PMMS US 5-Year ARM (Retired)

The Inspection ID (field ID CASASRN.X220) field is now available on the Freddie Mac Additional Data input form. This field is intended for users to add the inspection identification number provided by Freddie Mac’s bACE API system.

The following new fields have been added to the GSE Additional Provider Data input form:

• Argyle (Bor, CoBor)
• Freddie Mac AIM Check (Bor, CoBor)
• Gateless (Bor,Cobor)

Starting in Encompass 24.1, the file size of attachments and documents in the eFolder is no longer displayed when using the new document viewer. The Size column has been removed from:

• File Manager - Unassigned section (example below)
• File Manager - Documents section
• Document Details window - Files section

This update addresses issues where the correct file size was not displayed after a document or attachment was edited or modified.

This Size column is no longer displayed in the File Manager

The Size and Size Total column may be added to the eFolder’s Documents tab if needed. The applicable file size values will be populated to these columns as in previous versions of Encompass. To add a column to the Documents tab, right-click a column header in the Documents table, and then click Customize Columns. Select the column(s) to add, and then click OK.

(Added on 3/4/2024)

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.

The https://archive.elliemae.com web site, known as the EDM Archive, is decommissioned in Encompass 24.1. This is the site where users could retrieve older, archived eFolder documents. This site is no longer available to users and they are not able to access archived documents there. Encompass stores and retains all eFolder documents. The documents can be accessed by opening them in the eFolder itself rather than visiting the EDM Archive web site.

When adding borrower information to the Borrower Summary - Origination input form (and others), you can click the Preferred Contact (clock) icon in the Borrower Information section to open the Borrower Contact Preference pop-up window and specify the borrower’s time zone and preferred day and time of day to be contacted. A new Notes field has been added to this pop-up, where you can add additional information about the borrower preferences such as a set time to contact them, whether to use the mobile phone vs. home phone, or any other preference information that cannot otherwise be indicated in the pop-up window. This new field is available in the contact preferences for the borrower (field ID 5013), co-borrower (field ID 5014), and non-borrowing owner (field ID NBOC0141 in the File Contacts tool).

(Updated on 3/20/2024)

In the Admin Tools > Settings Manager, a new Automated Data Completion category and related settings are now provided. Administrators can use these settings to enable Encompass to retrieve data systematically and automatically populate/complete data within specific forms and settings. This enables the data to be completed without users having to open the form or setting and then manually click a button or similar to populate the data.

Automated data completion may be enabled for the following loan data:

• Home Counseling Provider List on the Home Counseling Providers input form
• Area Median Income (AMI)

Home Counseling Providers

When the Home Counselors option is enabled, Encompass will retrieve Home Counseling data systematically as follows, provided these prerequisites are met:

• The Home Counseling Services Data Template must be applied to the loan.

• The following fields must be populated:

  • ZIP Code [for Borrower’s Address] (field ID FR0108) (Or, if the borrower’s present address is a Foreign Address (field ID FR0129), then the subject property’s ZIP code (field ID 15) is required.)
  • Distance (field ID HCSETTING.DISTANCE)
  • At least one checkbox (field ID HCSETTING.SERVICES) in the Multiple Services list must be selected.
  • At least one checkbox (field ID HCSETTING.SERVICES) in the Multiple Languages list must be selected. (English is selected by default.)

Based on these prerequisites, Encompass will populate the Home Counseling Providers List automatically rather than relying on a loan team member to manually click the Get Agencies button.

Please refer to knowledge article #000115391 - 24.1 Home Counseling Providers Automation for additional requirements and information about this feature.

Area Median Income (AMI)

When the Area Median Income (AMI) option is enabled, the AMI data for the loan (as shown below) will be automatically populated when the subject property ZIP code (field ID 15) is entered for the loan. Encompass queries the Area Median Income (AMI) Limits table in Encompass Settings and applies the most current year’s AMI limits.

As part of this update, a new AMI Year Used field (field ID 4970) has been introduced. This field indicates the year of the AMI limits used for the loan.

When the Area Median Income (AMI) option is disabled, loan team members must use the Get AMI button to populate the AMI fields for the loan with the latest AMI limits from the Area Median Income (AMI) Limits table in Encompass Settings.

Encompass now treats Construction Only and Construction-Perm loans as irregular for the purposes of APR tolerance, regardless of the amortization type. This update ensures these Construction loans have an APR tolerance of 0.25% instead of the 0.125% tolerance applied to regular loans. Therefore, when the Redisclose Closing Disclosure (APR, Product, Prepay) alert is configured to use the APR Tolerance > 0.125% for regular loans and 0.25% for irregular loans option, the alert will not trigger for Construction Only and Construction-Perm loans when the current APR differs from the Disclosed APR by 0.25% or less.

If working in an existing loan created prior to Encompass 24.1 and the alert is triggered, this new alert logic will be applied.

Encompass now performs an auto-save of loan data when the loan team member performs the following actions:

• Clicks the eConsent button in the eFolder.
• Clicks the Request button in the eFolder.
• Clicks the eDisclosures button in the eFolder.
• Clicks Send > Files or Send > Files to Lender button in the eFolder.
• Sends Status Online.
• Sends forms via Secure Form Transfer tool.

With this enhancement, Encompass saves the loan data before triggering external updates to Encompass Consumer Connect loans or other external services. This helps ensure the most current data is reflected in Encompass Consumer Connect loans and elsewhere, preventing errors that may occur if the same loan file has conflicting borrower/co-borrower information in different applications.

When Encompass users click Help > Encompass Help, a Learn More link, or press F1 to view the online help topic for the current screen, the online help system now opens in the user’s default web browser. In addition to the navigation tools provided in the online help user experience, you can use the browser’s Back and Forward arrows and other browser options to navigate the online help system as well. In previous versions of Encompass, the online help opened in anadmin Encompass pop-up window that did not provide access to browser navigation tools.