Release Notes - BytePro 1.4

Version 1.4 Update 2

 
  • Added the following partner interfaces:
    - Birchwood Credit
    - Advantage Credit
    - First Magnus Credit

  • Fixed a problem associated with connecting to the internet using beta version of Internet Explorer 7.

  • Modified amortization schedule to accept any value for ARM margins, including positive, zero, and negative values.

  • Updated the following documents:
    -CA - 883
    -CA - Consumer Caution Notice
    -FHA 203K
    -FHA/VA Amendatory Clause
    -FHA Analysis of Appraisal
    -VA 26-0551 Debt Questionnaire
    -VA 26-0592 Counseling Checklist
    -VA 26-1805 Request for Determination of Reasonable Value
    -VA 26-1880 Request for Certificate of Eligibility
    -VA 26-8937 - Verification of VA Benefits
    -HUD/VA Interest Rate and Discount disclosure
    -IRS 4506T
    -TX Mortgage Broker Disclosure

  • Updated the Byte Software license agreement.

  • Added a printer dialog box that allows you to print to a printer other than your default printer.
 

Version 1.4 Update 1

 
 
  • Updates to the FHA and conventional maximum loan amounts, which go into effect January 1, 2006.

  • A fix for 'error retrieving data' when submitting to Fannie Mae without credit id and password. See this BytePro FAQ for more information.

  • The new Axiom lender interface.

  • The new Credit Plus credit interface.

  • The new IDS closing docs interface.

  • A fix that corrects a problem with some printers dropping the revised form date from the bottom of the 1003.
  • A feature that allows user names to autofill from first and last names when importing users from Byte Classic.
  • A change to the financial calculator to allow the interest rate to display up to 3 decimal places.

  • A fix to the Good Faith Estimate so that it will not print zeros for closing cost values when it is printed blank.

  • A fix that corrects an "assets" typo on the 1003.

  • A date formatting correction on the HMDA LAR.

  • A validation correction for action taken on the HMDA edit screen.

  • A security update restricting read-only users from importing Byte Classic or Calyx®Point files into BytePro.

  • The maximum loan amount for a FHA cash-out refinance is updated to 95%.

  • A fix that corrects incomplete printing of the co-borrower address on the Residences Addendum to the 1003.
  • Added HTML as a report format option for the CBCWeb credit interface.

  • An improvement in the mapping of the Refinance Type in the export to Loan Prospector®.

  • A fix that corrects the export of the borrower's birthdate to Loan Prospector®.

Version 1.4 - Initial Release

 
  • Updated the Fannie Mae 1003 and 1008 forms. The new 1003 may be used immediately, and it is required for all loans with an application date of January 1, 2006 or later. The new 1008 may also be used immediately and is required for all loans with a delivery date of November 1, 2005 or later. For more information see Fannie Mae guide announcement 05-05.

  • Added interfaces to the following closing documents vendors:
    - Document Express
    - DocuTech ConformX
    - MRG
    - PeirsonPatterson LLP

  • Added credit interface for Informative Research.

  • Updated BytePro to accommodate new rules regarding up-front MIP (UFMIP) on FHA condos and 203K's. Effective December 27, 2005, FHA will begin charging UFMIP on condos and 203K's. Byte has an "assist feature" that automatically calculates the UFMIP on FHA loans. In this updated version of Byte, the assist feature will calculate UFMIP on FHA condos and 203K loans if the system clock date on the computer is December 27, 2005 or later. If you need to enter UFMIP on an FHA condo or 203K loan before December 27th you can manually enter the value in the "MIP Percent" field on the "GFE Part 1 - Loan Programs" screen. For more information see Mortgagee Letter 2005-38.

  • Added the ability to update Fannie Mae's list of credit providers from the Fannie Mae web site. Go to Tools >> Defaults >> Fannie Mae >> Update Credit List.

  • Updated the Statement of Credit Denial. The updated form has the ability to list all three credit repositories in Part II: "Disclosure of use of information obtained from an outside source".

  • Updated the IRS 4506-T. The new form is dated November 2005.

  • Updated the Texas Mortgage Broker disclosure.

  • Updated the FHA HUD 92051 Compliance Inspection Report. The form's OMB expiration date is 12/31/2007.