Release Notes - BytePro 4.0
Changes made in version 4.0 Update 1 and the initial release of 4.0 are shown below. The most recent changes are shown first.
BytePro 4.0 - Update 1
TIL Changes (Standard and Enterprise)
Added the phrase "No Obligation: " to the beginning of the TIL statement "You are not required to complete this agreement merely because you have received these disclosures or signed a loan application".
The added text, 'No Obligation: ' is in caps and bolded. A line was added beneath the text to signal its inclusion in the "Fed Box".
Added the ability to print the company information of the lender or investor on the top left of the TIL in addition to the option of the existing user's company information (or the assigned organization's information for an Enterprise file). The selected party also prints at the top left of the Itemization of Amount Financed.
Go to the 'Truth in Lending/ Reg Z' screen, and choose from the Entity name on TIL' dropdown, top left, to change the selection from the default for the current file.
The default print selection on the TIL and Itemization will be the user company information for Standard, and the organization information for the current file for Enterprise. To change the default print selection to lender or investor, click 'Defaults' (toolbar) > 'Truth in Lending/ Reg Z', and select from the 'Default Entity Name on TIL ..' dropdown list.
If lender or investor are selected for display on the TIL, information for either may be edited by clicking the Edit button to the right of that field (top left) on the TIL screen.
Added a section to calculate and display the APR variance and the earliest possible closing date based on the mandated waiting periods.
For applications received on or after July 30, 2009 you must redisclose the TIL and other altered disclosures for most loans if the APR varies by more than an eighth of a percent from the APR stated in initial disclosures. You must also honor a waiting period of seven business days from the initial disclosure to the earliest closing unless waived by the borrower, and a waiting period of three business days from a redisclosure mandated by a change in APR (if that occurs) to the earliest closing, unless that is waived by the borrower. See the final rule with commentary at the gpo.gov website for reference.
The new "TIL Disclosure Calendar" section will assist in calculating the variance and the earliest possible closing date.
To get there, click 'Truth in Lending\ Reg Z' in the sidebar on the left. The section is at the top of the screen. You can also click the 'APR variance' link in the overview pane on the right.
To calculate the current APR variance, enter the Disclosed APR at the time of the initial disclosures (click the "Fill" button if that is the current APR). The variance is the difference between the disclosed APR and the current APR.
Enter the GFE\TIL disclosure delivery date (top right) to generate the earliest possible closing date based the initial disclosure waiting period. If a redisclosure becomes necessary, enter that date and the delivery method to generate a new earliest closing date (the later of the two dates). Check the pertinent 'waive waiting period' checkbox if that is appropriate - the earliest possible closing date will adjust to the disclosure date.
See the 'Tracking the TIL' topic in the Help Guide for more on using the new fields and calculations to stay on top of the new guidelines.
General Changes (Enterprise and Standard)
Password protection and 'Save all documents to single PDF' selections on the Print screen are saved and displayed automatically the next time you email or PDF documents.
Also, the password protection selection for emailing loan files (File > Email loan file) is saved and re-displayed.
This is applicable only if 'require password protection' is not selected in the corresponding default - Emailing > 'PDF Files' section for PDF'ing and emailing documents and Emailing > 'Emailing Loan Files' section for emailing loan files.
Added a 'Print' button to the view screen of HTML credit reports.
Updated PDF driver to reduce errors creating PDFs. These errors primarily affect 64-bit computers.
Decreased the right margin on page 2 of the HUD-1. PDFs of this form no longer print on two pages.
Corrected a problem with MISMO export file rounding mortgage insurance percentage to 3 digits past the decimal. Increased the number of MI digits in the export file to ten.
Fixed an issue that caused unencrypted PDF's exported from BytePro to contain security.
Fixed a problem with error messages encountered when changing fields that trigger auto-updating closing costs. The affected fields include Purchase Price, Base Loan, Loan with MIP, and Purpose of Loan.
Bulk spreadsheet merge data option no longer includes user assignment, file naming, status assignment or organization assignment in the 'merge fields' wizard. Those selections are imported from merged data if they exist, or default to existing data in the recipient files if they are not found in the merge data.
General Changes (Enterprise Only)
Fixed a problem with setting the Status on the selected file from the Quick Info screen with no files open.
Corrected a Web Services problem where the Document Storage linked folder path designated on the server was required to exist on each client computer.
Corrected a problem with credit and flood personal defaults saving correctly from the database to offline mode.
General Changes (Standard Only)
Fixed the 'date created' field to set to the current date for imported Fannie Mae format files.
Fixed the 'lock start date' field to keep its value while updating from version 3.1 Update 3 to version 4.0.
BytePro 4.0 - Initial Release
General Changes (Standard and Enterprise)
Eliminated support for Windows 98 and Windows ME. Starting with version 4.0, these operating systems are no longer supported by BytePro. Microsoft discontinued support for Windows 98 and Windows ME on July 11, 2006.
Added the following phrase to the bottom of the Truth in Lending disclosure: 'You are not required to complete this agreement merely because you have received these disclosures or signed a loan application.' The new phrase is mandated by the Housing and Economic Recovery Act of 2008, and is required on or after July 30, 2009.
Added a Stored Document feature that allows you to import PDFs and other documents that are associated with a BytePro loan file. Documents can be added with a simple drag-and-drop, and can be viewed, printed and e-mailed from within BytePro. More…
Added a Custom Document designer allowing you to create your own documents without using Microsoft Word. (Enterprise Only) More…
Upgraded Freddie Mac 'LoanProspector.com' Interface to Version 4.2. More…
Added an interface to MortgageBot, a consumer facing web application popular with banks and credit unions. For more information contact Byte Software Sales at 800-695-1008.
Revised the 4506-T Request for Tax Return Transcript to print a larger font and allow for default values. More…
Added the ability to bulk import information from a spreadsheet. More…
Enhanced the Borrowers section on the Home screen to display more information.
Added an option to print signature lines on the servicing disclosure. To turn on the signature lines select Defaults > Servicing Disclosure and check the 'Print Signature lines' checkbox.
Added the ability to update closing cost calculations automatically. More…
Added the ability to update the line names for line 1003, 1004 and 1005 on the HUD1A. More…
Added the ability to dial any phone number by right-clicking on the phone number field. More…
Enhanced custom fields by adding a 'True\False' custom field data type. More…
Added a second appraisal party with a corresponding second order-out.
Added the ability for an administrator to force users to create new files using a template file. More…
Added the ability for an administrator to restrict users from editing custom Word documents. More…
The monthly MI premium now contains up to four decimal places. More…
Added the ability to override the Total amount on the GFE - Prepaids screen for prepaid items 901, 903 and 904. Each of those items now have an override field in the 'Total' column. This allows you to add a total amount for each of those items without a monthly payment.
Added VA lender ID and VA agent ID to Defaults. These default fields will populate the lender ID and sponsor\agent ID fields on the FHA\VA loan addendum (92900-A), the VA Loan Summary and the VA Appraisal Request, for loans with a 'VA' mortgage type only. The corresponding FHA lender and sponsor IDs populate those fields when the loan mortgage type is 'FHA'. These defaults populate new loans only.
Added a report that allows you to export information to the third party Relief software. More…
Added the 'Assessor's Parcel Number' field to the Home screen and GFE Part 1 - Loan Programs screen.
Added the option of specifying the PDF 'save to' folder location. By default, PDF's created from the Print screen are saved to My Documents\BytePro (or BytePro Enterprise)\PDF\<file name folder>. To change the default, go to Defaults > Emailing > the 'PDF files' section, and enter a new folder location in the 'Saved PDF Location' box. This default can be changed from Personal to Shared if all BytePro users in the office will share the folder.
Removed Interest Rate, ARM Initial Rate, and ARM Qualifying Rate from the 'Lock-In Agreement' document when 'Float to Lock Option' is selected.
Changed the file name used when generating multiple page PDFs from the print screen. The file name now uses the following format: LoanDocs_<year.month.day>@<hour.minutes.seconds>.pdf An example is LoanDocs_2009.06.09@11.38.29.pdf.
Added the ability to allow closing cost line 808 'Mortgage Broker Fee' to calculate percentage of the loan based on either the base loan or the loan with MIP/FF. You may designate either basis for each mortgage type (conventional, FHA, etc) in Defaults. More…
Added the ability to filter the loan status field on the [Not Assigned] status. Open a report, add the Status > Loan Status field, edit it, and choose In List > [Not Assigned] from the Filter dropdown list.
Enhanced the Parties editor. More…
Added the bank address to the 'Name' dropdown list on the 'Edit Asset' screen. This makes it possible to differentiate between bank branches without having to access the cardex.
Updated the Fannie Mae file import when creating a new loan file from a Fannie Mae file. The importer is now more forgiving of invalidly formatted Fannie Mae files.
When creating a new file from a template file, the lender case number is now correctly set to the file name when the 'Set the lender case no to the loan file name' option is selected in New File defaults.
Form Updates
Added VA Certificate of Loan Disbursement (VA 26-1820).
Added form VA Rate Reduction Certification.
Added form VA Request for a Certificate of Eligibility (VA 26-1880).
Revised the mortgage payment example on the second page of the ARM Disclosure. ('Print' from the toolbar > All Documents > ARM Disclosure Page 2). In the 'How Your Payment Can Change Continued' section at the top of the document, the last line of the example was changed so that the payment used as the multiplier (based on a $10,000 balance) now reflects the initial interest rate rather than the maximum interest rate.
Updated the FHA Informed Choice Disclosure. More…
Updated the Borrower's Certification and Authorization so that all user-defined text displays completely.
Updated the expiration date on the 203(k) Maximum Mortgage Worksheet to 4\30\2011. There were no other changes to the document.
Updated the footer date on the HUD Addendum 26-1802a to 5/2008. There were no other changes to the document.
Updated the Required Providers disclosure by increasing the text area for the 'nature of relationship' field.
Added a link to the Lock-In Information screen leading to Defaults > Lock-In Agreement. The Lock-In Agreement default lets you enter additional wording for the Lock-In Agreement form that may be required by your state or lender.
Interface Updates
Changed the export folder for the Flagstar output file 'flagstar.txt' to the My Documents\BytePro (or BytePro Enterprise)\Temp folder. This change helps Vista users export that file successfully. The new export file path is displayed on the BytePro Flagstar edit screen.
Added the 'Documentation Type' field to MISMO Closing Docs export file. To set the documentation type, open the Processing Log, and select from the 'Doc Type' dropdown list at the top of the screen.
General Changes (Enterprise Only)
Added the ability to associate a validation rule with a custom popup screen so that users can fix validation errors without having to navigate away from the validation error screen. More…
Enhanced the Custom Screen Designer. More…
Added the ability to prevent users from printing documents that are not applicable to the current loan file. More…
Added the ability to apply validation rules to verifications and order outs. More…
Added the ability to specify which loan a validation rule applies to (GFE, closing docs, first and second, etc). More…
Enhanced the software development kit (SDK) by adding a method called GetParent. For more information see the SDK Guide.
