Release Notes - BytePro 3.1

Changes made in versions 3.1 Update 3, version 3.1 Update 2, version 3.1 Update 1 and the initial release of 3.1 are shown below. The most recent changes are shown first.

BytePro 3.1 - Update 3

Revised the VA Loan Summary (26-0286).  The new VA Loan Summary form is required beginning May 1, 2009.  Look for these differences:

  • Item and wording changes in section 14 'Loan Code'
  • New section 15 'Prior Loan Type'
  • All sections after section 15 renumbered
  • Updated form date at the bottom left of each page - Nov 2008

The form date on the superceded form is Aug 2006.

You can view the updated 26-0286 form on the VA web site. 

Changed maximum LTV for FHA Cash Out Refinances to 85%.  The new lower LTV is effective for files assigned case file numbers on or after April 1, 2009.  This change affects the maximum base loan amount for files with an existing loan more than a year old.  Files with original loans less than a year old remain at 85% maximum LTV.  To view the maximum loan amount calculation for an FHA cash out refinance, click the 'Calculate' link to the right of 'Base Loan' on the Loan Programs screen. 

Note that you can override the LTV percentage, if needed, by clicking the field and selecting 'Override the calculation ..'.

See Mortgagee letter 09-08 for more information on FHA cash out refinance changes.

Revised the FHA/VA Addendum (HUD 92900-A).  Line 12b, 'Term of Monthly Premium' on the 92900-A was revised to display the number of months corresponding to the last payment on the amortization schedule with mortgage insurance, instead of the full term of the loan.  If the loan has no MI, the term will be zero.  If the amortization schedule cannot be calculated, the full term of the loan will display.

Note that line 12b can be overwritten, if necessary, on the 92900-A edit screen (FHA/VA Forms > FHA/VA Addendum, upper right)

On the 92900-A edit screen (FHA/VA Forms > FHA/VA Addendum),  lines 12a and 12b were changed to display monthly amount and term of mortgage insurance premium instead of annual amount and term.

Standard Only:  Fixed problem with saving HMDA file data changes made from the main HMDA report screen.  This affects HMDA data changes made from Tools (toolbar) > HMDA, double-clicking a file in the list and making file changes from those screens.  This issue affected only BytePro Standard.

BytePro 3.1 - Update 2

Revised the RESPA servicing disclosure. The new servicing disclosure is required starting January 16, 2009. For information on the new form's requirements see page 57 of the final rule issued by HUD.  Note that both the applicable 'Servicing Transfer Information' language and the sevicing disclosure version (old form or the new) are selected in Defaults (Defaults > Servicing Disclosure).  To print the old disclosure, if needed, choose 'Prior to 01/16/2009' from the 'Choose Version' dropdown in Defaults. 

The new servicing disclosure does not require a borrower signature.

Revised the FHA maximum mortgage amount calculation for refinance loans as described in mortgagee letter 2008-40.

Revised the calculations contained in the 203(k) worksheet to comply with mortgagee letter 2008-40 and mortgagee letter 2008-23.  For purchase transactions, line C4 is now calculated with a 96.5% LTV and line C5 is calculated with a 3.5% minimum investment requirement. For refinance transactions, line D3 is now calculated with a 97.75% LTV. Note that the printed worksheet itself has not yet been updated; HUD is expected to announce a revised form sometime in January 2009.

Added the ability to print a mock HUD1 with no signature lines.

BytePro 3.1 - Update 1

Restored the toolbar at the top page 3 of the 1003. The initial release of 3.1 did not contain the toolbar; version 3.1 Update 1 restores it.

Corrected several printing errors on the 92900-LT.

Restored the Close button on the Status screen. The close button was removed in the initial release of 3.1 and restored in version 3.1 Update 1.

Added a Package Type default to the DocuTech closing docs screen, allowing you to select either closing documents or initial disclosures. Select Interfaces >> Closing Docs >> DocuTech ConformX, then click the Defaults link at the bottom of the screen.

Added a new Loan-of-Record reporting option to custom reports. This new option reports loan information from the closing docs loan if it exists, or if it does not exist it reports loan information from the GFE loan. Go to Customize >> Custom Reports, then edit a report. Find the Loan Reporting drop down list, then select Loan of Record.

Fixed a problem importing credit reports from Byte Classic into BytePro. In prior versions of BytePro it was not possible to view credit reports that were imported from Byte Classic.

Enterprise: Corrected a problem with the incorrect company name printing on documents when switching back and forth between two open loan files that are assigned to different organizations.

Enterprise: Added a custom filter type in management reports. This allows you to create complicated filters to meet demanding reporting needs. See the BytePro Enterprise Admin guide for more information.

Enterprise: Added Custom Reports to Object Permissions. This allows an administrator to make any report visible to some users but not to other users.

Enterprise: Added the ability to override the company name that prints on documents. Normally the organization that is assigned to a loan file controls which name prints on documents. This change allows any arbitrary name to be printed. This feature is available only via the Software Development Kit (SDK) or the optional Custom Screen feature (see below for more details on the Custom Screen feature). Contact Byte Software technical support for more information.

 

BytePro 3.1 - Initial Release 

General Changes (Standard and Enterprise)

Modified MIP calculations for FHA loans.  The risk-based calculation now applies only to those files whose case file number is assigned between July 14, 2008 and September 30, 2008.

  • For files with case numbers assigned prior to 7/14/2008, a flat rate premium of 1.5% applies.
  • For purchases and non-streamlined refinances with case numbers assigned on or after 10/1/2008, a flat rate premium of 1.75% will apply.
  • For streamlined refinances with case number assigned on or after 10/1/2008, a flat rate premium of 1.5% will apply.

To verify the premium calculation and override it if necessary, click the 'details' link to the right of 'MIP percent' on the Loan Programs screen.  The 'Case number assigned' drop down list at the top of the screen determines the correct UFMIP percentage for the file.  The list contains four date ranges:

  • Before 7/14/2008
  • Between 7/14/2008 and 9/30/2008
  • Between 10/1/2008 and 12/31/2008
  • On or After 1/1/2009

The corresponding date range is applied automatically to files created on or within that range.  If needed, select another date range. 

The risk-based premium calculation will be used for the 'Between 7/14/2008 and 9/30/2008' case number assignment date only. 

See Mortgagee letter 2008-22 for more information on changes to FHA UFMIP.

Added FHA Maximum Mortgage Calculations Effective January 1, 2009.  For purchase mortgages with case file number assignments on or after January 1, 2009, the following rules will apply:

  • The maximum LTV will be 96.5% of the lesser of the appraised value or adjusted sales price.
  • Closing costs and the UFMIP are not factored into the maximum LTV calculation.

For refinance mortgages with case file number assignments on or after January 1, 2009 (excluding cash back, 203(k), 203(h) and EEM) the following rule applies: 

  • The loan amount with UFMIP may not exceed 100% of the appraised value.

Click the 'Calculate' link to the right of 'Base Loan' on the Loan Programs screen to verify the correct 'Case No Assigned' date range for the current file (top of the screen).  Files created on or after January 1, 2009 will automatically select 'On or After 1/1/2009'. If needed, choose another assignment date range manually. 

The 'On or After 1/1/2009' selection calculates the max loan amount in accordance with the guidelines given in Mortgagee letter 2008-23.

Paid by Others 'Paid by' column added to the GFE Closing Costs, the GFE Prepaids, the HUD1 and the HUD1A.  The 'Show Paid-by-Seller Breakdown' checkbox at the top left of the GFE -Closing Cost and Prepaids screens has been renamed 'Show Paid-by-Others Breakdown'.  Check that box to display the 'Paid by Others' column with the new 'Paid by' column to its right.  Entering an amount in a 'Paid by Others' field automatically displays 'Seller' in the 'Paid by' column.  Click the blue 'Seller' link and choose 'Lender' from the dropdown if the party should be the lender.

The indicated 'Paid by' party is displayed on the GFE under the 'Applicant/Other' column.  'L' and 'S' indicate lender and seller respectively.  A legend with the two abbreviations is shown below the summary.

On the HUD1 and HUD1A, the 'Paid by' party is shown to the right of the 'Paid from seller's funds' column.  If the party is incorrect, click the blue link and choose from the dropdown.  On the printed document, fees paid by the lender are shown to the left of the 'Paid from Borrower's funds' column, indicated with an 'L' (a short legend is at the bottom of the document).  Costs designated as paid by seller remain in the 'Paid from Seller's Funds' column.

Added new fields to items in the processing log.  'Assigned To': indicates which user is responsible for the item.  'Date Submitted' and 'Submitted By': tracks when the item was submitted to underwriting and who submitted it.  'Date Cleared' and 'Cleared By': tracks when the item was cleared and who cleared it.

Added the ability to override the Total amount on the GFE - Prepaids screen for prepaid items 1001 through 1008.  Prepaid items numbered 1001 through 1008 now each have an override field in the 'Total' column.  This allows you to add an amount for the prepaid item without indicating monthly payments. 

To add a prepaid total amount, such as an escrow holdback, click the override field, choose 'Override the calculation with this value' and enter the holdback amount (or other payment) in the box to the right.

The total will appear on the GFE as entered.

Increased the number of available Custom Fields from 200 to 300.  Custom fields are available on the Goto >> Tracking >> Custom Fields menu.

Updated the Fannie Mae ARM plan numbers.  To view the ARM plans go to Customize >> Defaults >> Fannie Mae and scroll to the bottom of the screen.

Added the option of excluding only seller paid discount points and buydowns from the APR calculation.  In addition to the default calculation of excluding all seller paid fees from the APR, you may choose to exclude only seller paid discount points and buydowns.  The default calculation will remain the exclusion of all seller paid fees.

To calculate the APR excluding only seller paid points and buydowns, go to Defaults > Truth in Lending/RegZ, and choose that option from the 'Fees that are excluded from APR' dropdown.

Added the ability to print reports directly from the Dashboard.  When a report is included in the Dashboard you can press the Print button on the tool bar to print it.

Resolved intermittent script errors in the Dashboard.  Script errors generated by third party web pages that are embedded in the Dashboard are no longer displayed.

Fixed issue with the Change Password menu (BytePro Standard only).  The Change Password menu is now displayed correctly based on the user's permissions (BytePro Standard only).

Form Changes (Standard and Enterprise)

Updated CA DRE forms 883 and 885.  The revised forms are effective on or after August 15, 2008.  This DRE notice has more information on the new forms.

FHA 92900-LT.  Addressed several calculation and printing issues.  

4506-T.  Revised the OMB number and fixed a printing problem with the phone number in section 5.

Maryland Financing Agreement.  Resolved printing issues.

HUD Mortgage Broker Contract.  Updated the final paragraph on the document, including the URL and phone number.

VA Determination of Eligibility.  Updated the form.

Interface Updates (Standard and Enterprise)

Added new credit interfaces

  • Credit Service Company
  • CISCO Credit
  • Credit Communications Inc (CCI)

Added new document preparation interface

  • Robertson & Anschutz Docs on Demand 

Custom Screens and Calculated Custom Fields (BytePro Enterprise Only)

Custom Screens and Calculated Custom Fields are available together as an optional add-on to BytePro Enterprise. For more information or for a free 30 day trial, contact Byte Software sales at 800.695.1008 or sales@bytesoftware.com.

Custom Screens

The custom screen designer lets you create new BytePro screens complete with labels, drop-down lists, text boxes and the controls you are familiar with from standard BytePro screens.  These added controls can be attached to standard fields (such as the mortgage type or loan amount) or custom fields.

Custom screens can stand by themselves, or they can be appended to an existing BytePro screen as a header or a footer.

For each custom screen, you can designate one or more standard documents or custom Word documents to print when Print or Preview is invoked from the custom screen.

The Custom Screen designer is located in the 'Customize' menu on the Toolbar. The designer is accessible whether or not the custom screen package has been purchased.  If the user is not licensed for custom screens, the completed screens will not be visible.

Calculated Custom Fields

Custom fields can now be automatically calculated based on formulas similar to those found in popular spreadsheet programs.  A calculated custom field formula can perform complex calculations based on standard fields and custom fields from the file.  These fields can be summed, compared and manipulated to produce a value you can display on a custom screen, insert in a custom document, or display in a BytePro Enterprise report. 

Calculated custom fields enhance the value of custom screens by allowing you to display formula results, calculated automatically, on the new screen.

Processing Log Enhancements (BytePro Enterprise Only)

Expanded Processing Log Security

Added granular security to items in the processing log so it can now be used to track diverse items such as order outs, items needed from the borrower, underwriting conditions, and even trailing documents.

  • Security policies for each item are based on the logged in user's security profile. Different items in the log can have completely different security policies if desired.
  • The security applies down to the field level so that, for instance, one type of user may have permission to order an appraisal while a different type of user is the only one allowed to mark it as cleared.  

See the help guide for more information

Added four custom stages to the Processing Log

Go to Tools >> Admin Tools >> Security Manager >> Processing Log >> the 'Stages' tab to rename and display custom stages.

Added the ability to restrict which colors are available for items in the processing log.

Go to Tools >> Admin Tools >> Security Manager >> Processing Log >> the 'Flag Colors' tab to limit which colors are available.

General Changes (BytePro Enterprise Only)

Added option to store Cardex contacts in the SQL Server database

Storing contacts in the SQL Server database provides the following additional functionality

  • Contacts can be either shared or personal. A personal contact is visible only to the user that created the contact. 
  • A shared contact is assigned an organization, and is visible to users logged into that organization and those organizations below. For instance, a contact that is shared at the corporate level is visible to all organizations, while a contact shared at a branch level is visible to everyone in that branch but not to other branches.
  • Contact categories can be enabled or disabled based on the user's security profile. This allows an administrator to prevent certain users from adding, editing or deleting contacts in certain categories.
  • An administrator can designate that individual contact categories can contain only shared contacts, only personal contacts or both shared and personal contacts.
  • Selected contact categories can be hidden if desired.

When stored in the SQL Server database, contacts are assigned to one category only.  New cardex categories 'Attorney' contains contacts previously assigned both borrower and seller attorney categories.  New category 'real estate agent' contains contacts previously assigned both listing agent and selling agent categories. The 'borrower attorney','seller attorney', 'listing agent' and 'selling agent' categories are retained in the SQL Server cardex for contacts who are either one or the other. 

Starting with version 3.1, contacts are stored by default in the SQL Server database. To change where contacts are stored go to Tools >> Admin Tools >> Security Manager >> Parties and look for the check box labeled "Store Contacts in SQL Database".

New and existing database installations may still choose the legacy Access database Cardex option.

See the 'Contacts' and 'Setting up SQL Contact Defaults' topics in the Admin Guide for an overview and SQL Server cardex setup information.  When you are ready to import, see the 'Importing Cardex' topic associated with your product.

Validation rules can now be used to flag documents as 'Not Applicable' so that they are not printed by default.

As an example, suppose you have a custom Word document that is only applicable when the loan amount is greater than $417,000. You can set up a validation rule and assign it to the document so that when the user attempts to print it when the loan amount is less than $417,000 the user will get a prompt that the print set includes a 'non-applicable' document as well as the message associated with the rule. The prompt will allow the user to either (a) print all selected documents including the one that is 'non-applicable', or (b) print all the selected documents except the one that is 'non applicable'.  

For more information see the help topic on Validation Rules.  Note that you can choose the 'Document Not Applicable' option from the 'Action on Error' dropdown for both error and warning messages.

Administrators can now lock down loan program information in the loan file so that it can be changed only by applying a loan program.

You can restrict a user from directly editing loan data through object permissions, while allowing the user to select a loan program from defaults that will import the loan program data and recalculate other file data based on that loan program.

Go to Security Manager > Security Profiles and open a profile restricted from editing loan data.  On the General tab, choose 'Enabled - Override object permissions' from the 'Loan Program Selection' dropdown list to allow loan program data selected by the user to populate the file.

Similarly, administrators can lock down information on the TIL (through object permissions) so that the editable information on the TIL can be changed only by applying a TIL default.

That permission is just below 'Loan Program Selection' described above.

Added database maintenance tools to the BytePro Enterprise Utilities

Added the following utilities:

  • Rebuild Indexes
  • Reorganize Indexes
  • Check Database
  • Check/Repair
  • Set Multiuser

To access these, open the BytePro Enterprise Utilities (Program Files > BytePro Enterprises).  Click 'Maintenance' on the left.  Each utility is accompanied by a description.

Enhanced the software development kit (SDK)

Added the following events:

  • OnFieldChanging: fired when a user attempts to change the value of a field
  • OnFieldChanged: fired after the user successfully changes the value of a field
  • OnScreenChanging: fired when the user leaves a screen
  • OnFileClosing: fired when the user closes a loan file

  • OnInterfaceLaunch: fired when the user opens an interfaces (i.e. a credit reporting interface)

  • OnPrinting: fired when the user clicks the print or preview buttons

  • OnCustomScreenButtonClick: fired when the user presses a button on a custom screen.

  • OnCustomScreenWebLinkClick: fired when the user clicks on a 'web link' control on a custom screen.

For more information see the SDK Guide.