The LO Compensation feature in Encompass enables companies to set up and track compensation paid to loan originators (loan officers, third party originators (brokers)) or the compensation being paid to your company by a wholesale lender if your company is acting as the broker. The feature includes an administrative setting for creating LO compensation plans, …
Average Median Credit Score Calculated for FNMA DU – 22.2
For loans submitted to FNMA Desktop Underwriter (DU), the Average Median Credit Score value is now being calculated by DU and returned in the response. The following Encompass updates have been implemented to accommodate this change: A new read-only Avg. Median Credit Score loan-level field (field ID AUS.X199) has been added to the to the …
Disclosed Finance Charge Must Be >= Actual Finance Charge – $100(1000704) FAIL
Few points to start checking prior to do anything Check all APR fees, and all red-flagged fees in ‘APR fees’, meaning thereby either you have to match and adjust in Itemization Fees in settings or check ‘Impact APR’ and ‘compliance fee’ in the loan file. A common cause for this is mismatched APR flags. This …
Give access to processor or any persona for milestones which they were not finishing previously
So There are two places where we have to make changes so that a persona like a loan processor can access milestones which they were not finishing previosuly. In So click on blue colored letters ‘assign loan team members’ and in next window opened, select milestone for which you want to give access. Now you …
Mavent State and license issue
If Mavent throws error for state laws and licenses then there are three places we have to enter state license details Encompass settings->company user setup->company information->Licenses Select the appropriate state and corresponding license and check it. 2. Select organization / users from top administration and if all users of that loan file are in whatever …
Mavent failure 1000704 and 1001121
Vacation Home Mavent is calculating MI for life of loan – conventional. Mavent is coded to drop off MI at 78% for First Lien, Primary Residence, Single Family (Units =1) conventional loans. For loans where the property type is listed as Conventional SECOND/VACATION HOME, Conventional INVESTMENT PROPERTY, or Conventional MULTI UNIT PROPERTY (UNITS = 2-4), …
Create and Use your own administrator primary elevated account to change Freddie Mac and Fannie mae credentials of other users
Use the left top menu burgar bar create new user with access and after creation again from left top burgar menu select modify user profiles and selected administrator privileges as ‘primary elevated’.
How to change Freddie mac Loan closing advisor password
Go to primary elevated account administrator and from the left top menu option with https://www.screencast.com/t/GVxHYq0lat Select a system account like dmcain_lclasys2sys2 and enter a new password.
Mavent failure Order vs Preview
Order Vs Preview If you are running order and fail but pass on a preview there have been changes to the file since the last disclosure. Mavent is looking for a new disclosure to be run in order to pass. REVIEW/ORDER: an Order utilizes the last disclosed information and compares it to what is currently …
How to add Fannie mae user and reset password for UCD collection
use technology manager of fannie mae admin to create user and then provide applications like UCD to that user. In reset password always type username, never copy paste otherwise it will not work.
