Month: November 2022

Loan teams will get an error message if special characters are used in file names. If a document file name contains any special characters/symbols [@, #, $, %, &, (, ), *, +,~,!,^] this error will be displayed by Encompass when importing documents from Blend. Resolution :- 1. Navigate to the Docs tab. 2. Click on the document name to download …

Access to the HELOC Management input form is configured by the Encompass administrator in the Personas setting. To Enable User to Access the HELOC Management Form: 1. Go to Encompass > Settings > Company/User Setup > Personas. 2. Click to select a Persona type in the left panel. 3. Click the Form/Tools tab. 4. In …

Working with HELOC features Your operations team and company decision makers determine your company’s HELOC policy:  Review the HELOC programs offered by you or your investors.  Set a credit policy regarding draw, repay, and types of HELOC loans to offer.  Review the HELOC Management Input Form section and HELOC Configuration Worksheet later …

Debt Ratio Must Be <= 50%(10440) FAIL Under the Cook County, Illinois Predatory Lending Ordinance, the borrower’s maximum debt to income ratio must be less than or equal to 50%. (Cook Co. Ord. 34-341) ANSWER/RESOLUTION: The Cook County Predatory Lending Ordinance requires that the Lender ascertain the Borrower’s ability to repay a loan. The Borrower is …

Current Rate Set Date Is Before The Current Rate Lock Date(66850) WARNING The Current Rate Set Date of (20XX-XX-XX) is earlier than the Current Rate Lock Date of (20XX-XX-XX). The System used the Current Rate Set Date for the APOR index lookup. If a different date is desired, resubmit the loan with revised data. TROUBLESHOOTING: …

Grace Period Must Be 15 Days or More(10380) FAIL  Under the New Jersey Home Ownership Security Act, a late fee on a home loan may not be charged unless the payment is past due for 15 days or more. (N.J.S.A. 46:10B-25.4.d) POSSIBLE RESOLUTIONS (each scenario is further defined below): ISSUE Found on Page 4 of the Closing …

Review Error (V634) – Ethnicity(50001119) WARNING An invalid Ethnicity data field was reported. Please review the information below and update your file accordingly. 1) If Ethnicity of Co-Applicant or Co-Borrower: 1 equals 5, then Ethnicity of Co-Applicant or Co-Borrower Collected on the Basis of Visual Observation or Surname must equal 4, and the reverse must …

An excise/transfer tax is only allowed to be charged to the borrower under limited circumstances: 1) when the seller in a purchase transaction fails to pay the excise tax, or 2) when a property is “historic” under the Washington Historic Property Provisions. Doc Tax Stamps/Transfer Taxes are not otherwise applicable in Washington. How to Troubleshoot: …

118358 Indicator Of SUBJECT Multiple Properties Exist In REO – Automated Underwriting Symptom Error When Running DU Cause More Than One Borrower Pair With The Same Subject Property Address Indicated Between The Borrower Pairs Resolution Steps When Running DU You May Need To Manually Delete Any Duplicated Address Or Un-Check Subject Property On The Additional …

UCD export is invalid. Following are the validation errors. – Error: The ‘http://www.mismo.org/residential/2009/schemas:FeeType’ element is invalid – The value ‘Utilities’ in invalid according to its datatype ‘http://www.mismo.org/residential/2009/schemas:FeeEnum’ – The Enumeration constraint failed. Symptom Error message pops up when trying to export UCD information Cause Running the UCD export via the Services tab while specific fees …