Point combines the latest technology and compliance measures with the functionality that mortgage professionals require for loan marketing, prequalification, origination, and processing. Point includes all the features, forms and reports that you need to manage your business without requiring any add-on modules. Developed by mortgage professionals, Point works the way you do. Best of all, it's extremely easy-to-use so you can concentrate on your work, not your software.
v9.1 [Aug 5, 2014]
General Updates
- Added Closing Cost Fund type descriptions to Banker > Shipping > ULDD section > Closing Costs > Type - Equity On Subject Property, Life Insurance Cash Value, Lot Equity, Rent With Option To Purchase, Retirement Funds, Sale Of Chattel, Stocks And Bonds, Trade Funds
- ARM Disclosure screen and form were updated to expand the Interest rate and payment changes section
- Added 4 amount fields 1104, 1105, 1106, and 1107 to the right of Source Dropdown fields under Banker > Shipping > ULDD section > Closing Costs. Copied and added the read only field 820 Total Cost-to-Close from 1003 application page 4, Section VII just above the 4 new fields for the purpose of comparison and confirmation the Total is in agreement with the values below
- Added field in Point for Fannie ULDD standards update data export - # 1108 Number of Months Reserves All Borrowers - Shipping screen > ULDD Section. Between the borrower and down payments sections
- Added field in Point for Fannie ULDD standards update data export - # 1109 Number of Mortgage Properties - Shipping screen > ULDD Section. Between the borrower and down payments sections
- Updated HOEPA counselor list text box. This screen is Under Forms list and shortcut tool bar. The text entry has been fixed to wrap on right margin properly. Also, fixed page 2 continuation page to eliminate the repeated header text and extra white space at top
- Right To Receive appraisal form has been updated to remove Acknowledgement C-9 verbiage located on the Print Preview form list.
- Added a form called Appraisal Acknowledgement that will have the C-9 verbiage "We may order an appraisal....." Located on Print Preview form list
- Fixed data sync so that when doing a 1st & 2nd lien using more than one borrower the Co-Borrower, Name, Social Security number, Income, and Birthdate are not overwritten by the same data from like fields already in other Borrower screen when clicking between 1st and 2nd with buttons under left navigation panel.
- Updated verbiage under Interest Rate and Payment to show properly when choosing USDA product - (was) : Includes Mortgage Insurance (now) : Includes USDA Annual Fee
- Added separate appraisal disclosures one = Right to Receive Appraisal & two = Appraisal Acknowledgment
There are several additional enhancements, changes, and fixes that are included with Point version 9.1. Click here for complete release notes.
Services and Interfaces
- Added Paid To Affiliate under escrow element in MISMO 2.6 Closing export field exists - Banker > Shipping > field ID # 14114
- Added Servicer ID number to MISMO 2.6 export data for interface vendors like Doc services
- Added import of Loan Credits data to MISMO import. The loan level credits in Section 2 of the Fees Worksheet were supported in the MISMO Calyx Closing 2.6 data for export but not import in 9.0
- Added Paid-By split amounts to MISMO closing export for both QM and other interfaces
- Updated the web interface import from the Lender and Interface menus (WebConnect) to accept UAD formatted appraisal documents
- Corrected Fannie Mae 3.2 export of Other Income from Application page 2 Section V. Describe Other Income section. It can now express negative amounts for proper export to QM
- Added MI Company name to Fannie 3.2 export for DO/DU interface. This data comes from field 463 Banker > Closing Docs > Loan Program Info
- ULDD export content was updated to meet Freddie Mac's 8/25/14 deadline. ULDD export feature in Point under main Tool bar > File Menu > Export To dropdown
