Release Notes - BytePro 2.0

• Fixed a problem with downloading files from Fannie Mae.

• Added an interface to CBCInnovis ID Cross Check. ID Cross Check is a borrower authentication service from CBCInnovis that can help to detect fraud. (Interfaces >> Credit).
  
  
• Added an interface to Bank of America. (Interfaces >> Lenders).
  
  
• Updated the ClickLoan interface. (Interfaces >> Lenders).
  
  
• Added an interface to DocMagic. (Interfaces >> Closing Docs).
  
  
• Added an interface with ComplianceEase. (Interfaces >> Other Interfaces).
  
  
• Added the following credit interfaces (Interfaces >> Credit >> Other Credit Providers):
  
  • SARMA
  • NCO Credit Services
    
    
• Updated the Massachusetts Mortgage Broker Disclosure.
  
  
• Updated the FHA maximum loan amounts. These updates are not applied by default. To apply the updates, go to Defaults >> Max Loan Amounts. With your mouse, right click on the label "FHA Maximum Loan Amounts" and select the Reset menu item.
  
  
• Updated the PDF printing feature.

• Updated the FHA Home Inspection Notice (HUD 92564-CN). The new form is dated 6/06 and is required for new applications taken on or after 12/1/2006.
  
  
• Updated the VA Loan Summary Sheet.
  
  
• Updated the PDF printing feature to work with Windows Vista.
  
  
• Added the ability to print the loan officer's license number on page 3 of the 1003, the Comparison and the Open House Flyer.  
  
  
• Added the ability to order supplemental reports from the HTML credit reports returned by Meridian Link credit vendors.
  
  
• Updated the Countrywide interface to go to either the Wholesale or Correspondent web sites. Click defaults on the Countrywide screen.
  
  
• Updated the Fannie Mae export to place FNM files in the "My Documents\BytePro\Temp\" folder instead of the "My Documents\" folder.
  
  
• Updated custom reports to print in landscape mode instead of portrait.

• Added 'field notes' -- visually flag any piece of information in the program and add a note that applies only to that field. Set alerts on field notes for later follow up.
  
  
• Added the ability to open a file read-only if someone else is in it. Now if another user has a file open, you can still open the file in a read-only view.
   
• Added a new read-only permission that allows the conversation log to be edited, but makes the rest of the file read-only. Navigate to [Home] >> File Permissions. If the role associated with the user is marked as "Edit Conversation Log Only" and the user's File Access rights are marked as "Read Only when Flagged" then the user will be able to open the loan file, and will be able to edit the conversation log but nothing else.
   
• Added integrated support for a la mode's Mortgage XSites. Features include:

• Receive notification in BytePro when a new loan application is entered on the XSite.
• Download loans from Xsites into BytePro.
• Upload loans from BytePro into XSites.
• Upload documents from BytePro to the XSite via the Print dialog.
• Update the status from BytePro.

• Redesigned all of the order out forms (appraisal, title, escrow, flood, hazard, and survey). The new forms share a larger font to make them easier to read when faxed. They also show the name of the person making the request as well as the requested delivery method (mail, email, fax, or courier). The redesigned Request for Title Insurance form now includes the mortgagee clause, which can be separate from the mortgagee clause for insurance.
   
• Added a comprehensive zip code database. Simply type the zip code into any zip code field, and the associated city and state will fill in automatically if they are blank.
   
• Enhanced support for negative amortization mortgages.

• The new "Starting Rate" field can be used to specify the interest rate that will be used to calculate the initial payment. The regular interest rate will be displayed on the 1003 and GFE, and the interim interest will also be based on the regular interest rate.
• The initial payment can now be fixed for a period of time different than the usual adjustment period. As an example, if the initial payment is fixed for two years, then adjusts yearly, you can enter 24 months into the field "Payment Initially Fixed For ___ Months" and 12 months into the field "... Then Changes Every ___ Months" .
• To see these new changes navigate to [Home] >> ARM Info >> Negative Amortization Loans and click on the check-box labeled "Loan has Potential Negative Amortization Feature".

• Added the option to display piggyback first and second loans as two different lines on management reports. To turn this feature on, navigate to Tools >> Defaults >> Custom Reports, and check the box labeled "Report combined piggyback first and second loans as two separate loans."
   
• Added password complexity rules to ensure BytePro login passwords are non-trivial. If you choose to require users to login with a password, the password must be at least six characters long and must contain at least one letter character and one non-letter character. If a user's password does not meet the minimum password complexity rules they will be asked to change the password when logging into version 2.0 for the first time.
   
• Modified the Patriot Act Borrower Documentation form and added a new Patriot Act Information Disclosure form.

  Loan Features

• Added a new field "Loan Program Code" that is distinct from the "Loan Program Name" field. The Loan Program Name is displayed on documents that are provided to the borrower, while the Loan Program Code is used internally. You may wish to have two or more loan programs with the same Loan Program Name but different Loan Program Codes.
   
• Added the option to customize the estimated property tax rate and disbursement schedule based on state and county. Navigate to Tools >> Defaults >> GFE - Prepaids >> Property Taxes. Also changed the estimated tax rate from two decimal places to three decimal places.
   
• Added an option to calculate interim interest based on the ARM fully indexed rate instead of the interest rate. Navigate to Tools >> Defaults - Prepaids >> Interim Interest >> "For ARM loans, compute interim interest based on".
   
• Added support for different RHS loan guarantee fees for purchase and refinance loans. Navigate to Tools >> Defaults >> GFE - Prepaids >> USDA / Rural Values.
   
• Added the ability to set the default cushion for mortgage insurance. Navigate to Tools >> Defaults >> GFE - Prepaids >> Mortgage Insurance >> Cushion for Aggregate Escrow.
   
• Modified the Lock Fee Percent to hold three decimal places. Navigate to Goto >> General Forms >> Lock-In Information.
   
• Added "in the amount of loan" as an option for property hazard insurance on the TIL. Navigate to Goto >> General Forms >> Truth-in-Lending / Reg Z >> Property Insurance.
   
• Added an option on biweekly loans to calculate the monthly equivalent payment by multiplying the biweekly payment by 26 and dividing by 12. The default calculation is to multiply the biweekly payment by 2. Navigate to Tools >> Defaults >> Loan >> "Biweekly Loans: qualifying monthly payment calculation method".
   
• Added an option to hide the Fill and Copy buttons for the Declarations answers on Page 3 of the 1003. Navigate to Tools >> Defaults >> 1003 Page 3.

  Forms

• Added the interviewer's fax number to the bottom of page 3 on the 1003.
   
• Redesigned the Processing Log report to include the borrowers' cell phones and email addresses, as well as the cell phones for all other parties.
   
• Modified the processing log screen so that the "Ordered By" field is automatically filled in when the 'Date Ordered' is filled in, and the 'Verified By' field is filled in automatically when the "'Date Received" field is filled in.
   
• Modified the verifications (VOR, VOE, VOD, VOL, VOM) to use larger fonts so that faxed copies are more legible. Also added the recipient's fax number on the form.
   
• Added the Equal Housing Opportunity logo to the open house flyer and loan comparison.
   
• Added a Telephone Verification of Employment. After creating a VOE in the usual way, you can choose to print the standard VOE or the Telephone VOE.
   
• Updated the VA Loan Analysis to show a rental offset in section D when appropriate.
   
• Added the New York Application Log form. Navigate to Goto >> State Forms >> NY - Application Log.
   
• Updated page 1 of the FL mortgage broker contract: the field "your interest rate cannot increase more than ____ percentage point(s) at each adjustment" now displays both the first adjustment cap and next adjustment cap if they are different.

  Interfaces

• Added the following credit vendors. These vendors are displayed with their own icons on the credit ordering screen.

• Advantage Credit.
• CIS
• Birchwood Credit.
• First Magnus Credit.

• Also added the following credit vendors, which can be found under a new "Other Credit" icon on the credit ordering screen.

• American Reporting Company.
• CDS Mortgage Reports, Inc.
• Certified Credit Link.
• Certified Credit Reporting.
• Credit Masters.
• Data Facts, Inc.
• Platinum Credit Services.
• Prestige Credit Services.

• Updated the Fannie Mae File export feature to allow you to place the file in any directory you choose.  Navigate to Interfaces >> Fannie Mae >> Export Fannie Mae File >> Defaults.
  
  
• Updated the Countrywide interface to utilize ClickLoan Technology for submitting loan files to Countrywide.
  

  Administration

• Enhanced support for printing Word Docs when the documents are shared on a network. This new optional feature allows the word document to be embedded within the program's management report, analogous to how a file can be embedded within an email message. This eliminates the need to keep track of a separate Word Doc, and reduces conflicts when sharing documents with other users in a networked environment.
   
• Added three new customizable roles, in addition to the existing "loan officer", "loan processor", and "other user" roles. Also added the ability to have a user with no role on the file; this selection is useful for administrative users.
   
• Added six new customizable statuses. The names of all statuses can be customized, and you can choose which statuses are displayed. Also added three new customizable status dates.
   
• Added the ability to customize the names of the "Other Parties" categories.  In BytePro Standard, navigate to the data folder manager (File >> Login as Different User >> Setup Data Folders and Users >> [Edit Data Folder] >> Parties.
   
• Added new permissions for users: the right to create files, the right to copy files, and the right to change the login password.
   
• Added the ability to disable a data folder without deleting it. This feature is especially useful if you do not want users to store loans in their "my documents" data folder (BytePro Standard only). Navigate to File >> Login as Different User >> Setup Data Folders and Users >> [Edit Data Folder] >> General, and click on the button labeled "Disable this Data Folder".
   
• Added the ability to allow each user to have different print sets. Navigate to Tools >> Defaults >> Print Sets, and click on the computer icon to select whether Print Sets are a personal or shared default.
   
• Added the ability to force loan files to be encrypted when they are emailed. Navigate to Tools >> Defaults >> Emailing.
   
• Added the ability to force PDF files to be encrypted. Navigate to Tools >> Defaults >> Emailing.
   
• Added support for sending email via SMTP (in addition to MAPI). Navigate to Tools >> Defaults >> Emailing.
   

  Other Features

• Enhanced printing - All documents are now combined into a single print job by default. If you experience problems with this feature you may choose to print each document as a separate print job by navigating to Tools >> Printing and uncheck the box labeled "Print documents as a single print job" - The Windows print dialog is now displayed before any documents are printed. This allows you to print to a printer other than the default Windows printer, and allows you to specify printer properties unique to your printer, such as two-sided printing.
   
• Changed the behavior of the mouse wheel. It will now consistently scroll the screen up and down, and will not change the value of a selection in a drop-down list.
   
• Added the ability to customize the statuses at which various alerts are shown. Navigate to Tools >> Defaults >> Alerts.
   
• Updated the list of files screen.

• If you re-order or resize the columns the program will remember the settings the next time the program is opened.
• If you sort on the status column, the program now sorts the files in chronological status order instead of alphabetical order.
• Updated menu bar to show icons for opening, copying, and deleting loan files and other actions.
• Updated search screen. The "Search For" field can be used to search for a file name, subject property address and the borrowers' first and last names.