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 the Input Forms section, select the HELOC Management check box.
5. When finished, click the Save icon.
Encompass users access the HELOC Management input form by clicking the Forms tab on the lower-left of a loan file and then click HELOC Management.
HELOC Program Tab
Use the HELOC Program tab to set the parameters and enter data for the HELOC loan.
Program Management
The Program Management section includes fields required for disclosing program terms and options.
Most fields on the HELOC Program tab are populated from a Loan Program template. Depending on how your company configures the HELOC workflow, the template is applied manually by the loan officer or automatically by business rules or Dynamic Data Management triggers. If the template is not already applied, the Loan Officer clicks the Find icon for the Loan Program field (field ID 1401) to select a loan program that matches the criteria for the HELOC loan being originated.
The Historical Table field (field ID 1985) displays the table used to populate example historical data on the Adjustable Rate version of the Important Terms Disclosure output form. If a table is not already applied from a Loan Program template, a business rule, or a Dynamic Data Management trigger, the loan officer selects a table by clicking the Find icon next to the field.
The HELOC Disclosure Date (field ID 363) uses the same field ID as the disclosure date fields used elsewhere in Encompass. The date is used to set the starting date for the Historical, Minimum, Maximum and FL Worst-Case schedules included in HELOC loan documents. All schedules begin on January 1 of the year that is 14 years prior to the disclosure date. If no disclosure date is entered, the schedules begin on January 1 of the year 14 years prior to the current date. For example, schedules for a HELOC loan with a disclosure date of December 15, 2021 will begin on January 1, 2007
NOTE: When the full loan term as defined by the combined total of the Draw Period plus the Repayment Period (field IDs 1889 and 1890) is less than 180 months, the starting date for the schedules is determined by subtracting one from the number of years in the loan term (or the current year when no disclosure date is selected). For example, schedules for a HELOC loan with a disclosure date of December 15, 2021 and a loan term of 120 months will begin on January 1, 2012.
