Release Notes - Byte Classic 5.000
Version 5.030
Updated HUD Form 92900-A. The Mortgage Insurance Term (box 12B) allows you to override the default value. The override value wasn't being printed on page 3 of the form.
Verifications. The printed Verifications were changed so the To: address will fit in a standard envelope window.
Updated HUD Form 92564-CN. For Your Protection: Get a Home Inspection. The new form expires 6/30/2006.
Updated HUD Form 92900-B. Important Notice to Homebuyers. The new form expires 9/30/2007.
Added Assumption to HUD/FHA Insured Mortgage. The form had been removed in version 5.00.
Fixed Verifications. Changed verifications back to previous format in order to fit standard window envelopes.
Updated Credit Interfaces. The following credit interfaces now import FACT Act information into the Credit Score Disclosure: CBCWeb, FactualData, LandSafe, Equifax, Mortgage Information Source, Old Republic, CreditInfoNet, The Credit Network, Credco, LandAmerica Web, LSI Credit, and Webstar.
Version 5.010
Updated HUD Form 92564-CN. For Your Protection: Get a Home Inspection. The new form expires 6/30/2006.
Updated HUD Form 92900-B. Important Notice to Homebuyers. The new form expires 9/30/2007.
Added Assumption to HUD/FHA Insured Mortgage. The form had been removed in version 5.00.
Fixed Verifications. Changed verifications back to previous format in order to fit standard window envelopes.
Updated Credit Interfaces. The following credit interfaces now import FACT Act information into the Credit Score Disclosure: CBCWeb, FactualData, LandSafe, Equifax, Mortgage Information Source, Old Republic, CreditInfoNet, The Credit Network, Credco, LandAmerica Web, LSI Credit, and Webstar.
Version 5.000
Added Credit Score Disclosure for the FACT Act. Added a Credit Score Disclosure Statement to help you comply with the FACT Act. The new form can be reached from the Disclosure menu. The credit scores and key factors will be automatically populated from the credit report, as long as the report is ordered from a preferred Byte credit partner. (If score information is not auto-populating, download the latest credit interfaces by clicking 'Update List of Interfaces' on the Credit screen.) The information can also be typed into the form.
Updated Truth in Lending. Byte no longer automatically checks 'This Loan has a Demand Feature' box on balloon loans.
Added Freddie Mac's Loan Prospector System-to-System interface. This new interface allows you to submit your loan file directly to LP using your Internet connection without opening a web browser. The interface allows you to submit the file, view feedback and order credit from one location in Byte. To access the interface go to Communications >> Freddie Mac >> System-to-System.
Added a new credit interface to Chase's WebStar system. To access the interface go to Communications >> Credit >> WebStar. The old Chase interfaces labeled "Chase" and "Chase Embedded" have been removed from Byte.
Added a new interface to First American Flood. To access the interface go to Communications >> Flood >> First American Flood.
Added the eMagic interface to the Lenders screen. To access the interface go to Communications >> Lenders >> eMagic. Check the Byte web site at www.byte-cbc.com for the extensive list of lenders that can be accessed via eMagic.
Added Texas Mortgage Broker Disclosure. The new form is listed on the Disclosure menu.
Updated the Monthly Arm. The Monthly ARM loan program can now be used for negative amortization ARMs that have a "teaser" starting rate. On the main loan programs screen enter the starting rate (i.e. 1.75%) in the interest rate field. Then open the ARM screen and enter 0 (zero) in the field labeled "Monthly ARM Only: Interest rate fixed for ___ months, thereafter adjusts monthly". Also check the box labeled "No Adjustment Caps". The payments for the first year will be calculated based on the teaser rate, however the interest rate in the amortization schedule will be calculated using the fully indexed rate starting immediately.
Enhanced User Information. You can now enter any phone and fax number to print on the forms (i.e. the Application and Good Faith). To change the phone and fax go to Customize/Utilities >> Change Software Purchase Options, enter the numbers and click 'Update Just Phone and Fax'.
Updated VA Form 92900-A. Line 12b "Term of Annual Premium" in months of the HUD / VA Addendum to Uniform Residential Loan Application is now an editable field. Corrected minor typographical errors. The expiration date on the form had been updated to 9/30/2007.
Updated VA Form 26-1880. The VA Determination of Eligibility has been update. The new form is dated March 2004.
Corrected VA Funding Fee Table. VA Construction-Perm loans now use the correct VA Funding Fee Table.
Updated the FHA 92800.5B. The FHA Conditional Commitment has been updated. Expiration date of the new form is 9/27/07.
Updated FHA Important Notice to Homebuyers. The new form expires 9/30/07.
Corrected the HMDA Transmittal. The HMDA Transmittal validation now allows HUD as an Agency.
Updated the Fixed Rate PMI Disclosure. Added PMI termination date option to print the 'Last month MI was collected' or the 'First month having no MI'. The option is located in Customize / Utilities >> Default Printing >> Other tab.
Updated the Loan Prospector Interface. Added new Offering Identifiers to the Loan Prospector screens. Initial Interest 10/20 Fixed-rate Mortgage (Offering Identifier code: 230), Initial Interest 15/15 Fixed-rate Mortgage (Offering Identifier code: 231), Initial Interest ARM Mortgage (Offering Identifier code: 232).
Added ability to specify location of WordDocs folder. Users can now specify the path to the WordDocs folder by adding a line to the TQSPlus.ini file. 'worddocdir=[folder path]'
Added a check for a read-only TQSPlus.INI file. If you do not have permission to write to the tqsplus.ini file, you will receive the following warning when you open Byte: "Error writing to C:\Winnt\TQSPlus.INI. Please make sure the file is not read-only and that you have permission to modify the file." Byte will not function properly if you do not have the correct permissions. If you receive this message please see your system administrator for assistance.
Added new Fannie Mae Asset Types. Net Equity, Cash on Hand and Gift Equity have been added as asset types on the 1003.
Added a new method for printing Word Docs. In some cases Microsoft Word documents don't print correctly using Word 2002, Service Pack 3. Added a check box to Customize / Utilities >> Default Printing >> Other tab. Check "I am using Word 2002, Service Pack 3, or higher".
