Release Notes - BytePro 4.2

The current version is 4.2 Update 3 for both BytePro Standard and Enterprise.

Changes made in version 4.2 Update 3 (Enterprise and Standard), version 4.2 Update 2 (Enterprise and Standard), version 4.2 Update 1 (Enterprise only) and the initial 4.2 release are shown below. The most recent changes are shown first.

BytePro 4.2 Update 3

Updated the VA/FHA Addendum 92900-A.

This revised form is required beginning October 4, 2010 for those FHA loans originated for a FHA approved lender by a sponsored originator. The revised form will be required for all FHA loans beginning January 1, 2011. See Mortgagee Letter 10-33 for more information.

The superseded 92900-A (dated 05/2008 bottom right) is replaced by the revised 92900-A (dated 09/2010 bottom right) with this update.

Added Sponsored Originations block to the FHA/VA Addendum 92900-A page 3 (below existing block 15). The new block contains sections for the sponsored originator's legal name, company NMLS ID, and company Tax ID/EIN.

Added 'Tax ID/EIN number' to the 1003 Page 3 'Loan Origination Company' section, bottom right. The EIN may be entered in Defaults (Defaults > Company Information) or manually. The Tax ID/EIN field will appear only on the FHA/VA Addendum form in the Sponsored Origination section, as designated on the FHA/VA Addendum 92900-A screen.

Added a 'Sponsored Origination' checkbox to the FHA/VA Addendum 92900-A screen. Checking this box populates the originating company name, NMLS number and Tax ID/EIN fields below Section 15 on the 92900-A page 3 with the company information entered on page 3 of the 1003 ('Interviewer Information' section at the bottom of the screen). If 'Sponsored Origination' is not checked, the Sponsored Originations fields on the 92900-A page 3 will remain blank.

BytePro 4.2 Update 2

Revised FHA Upfront Mortgage Insurance Premiums and Annual Premiums for loan files with case numbers assigned on or after October 4, 2010.

For files with case numbers assigned on or after October 4, 2010, the FHA UFMIP will be 1.00% for purchase, full-credit qualifying refinance, and all streamlined refinance loans. Also the FHA annual premiums (collected monthly) will be:

.90% for loans with LTV > 95% and term > 15 years
.85% for loans with LTV <= 95% and term > 15 years
.25% for loans with LTV > 90% and term <= 15 years
none for loans with LTV <= 90% and term <= 15 years

See Mortgagee letter 10-28 for more information.

New files created on or after October 4 will automatically be flagged as having a case number assignment date of October 4 or later, and will use the new UFMIP and annual MI percentages. To adjust the case number assigned date, go to the Loan Info section on the Home screen, click the 'Details' link to the right of the 'MIP Percent' field, and choose the correct date range from the 'Case No Assigned' dropdown list. Two case number assignment date ranges were added to the existing date range list:

'Between 4/5/2010 and 10/3/2010'
'On or after 10/4/2010'

After a date range is selected, it may be necessary to click the 'Fill' button to the right of the 'MIP Percent' field to get the updated MIP percentage to fill.

To update the FHA monthly MI premium (if necessary), click the 'Edit' link to the left of mortgage insurance on page 2 of the 2010 GFE and click the 'Copy Estimates' button.

Updated the Florida Mortgage Broker Agreement

The changes are effective October 1, 2010. For more information see sections 34 and 39 of Florida Chapter 2009-241.

Renamed the title of the form to "Florida Mortgage Broker Agreement"
Edited the last paragraph at the bottom of page 1 (starting with "You are entering into a contract") in accordance with 494.00421 (7)(a)
Replaced all references to Mortgage Broker Fee with Loan Origination Fee
Replaced all references to "Mortgage Brokerage Business", "Brokerage Business", and "Broker" with "Mortgage Broker"

Updated the Fannie Mae file import to better handle improperly formatted Fannie Mae files; missing social security numbers no longer cause the import to stop.

Corrected company address at the top left of the Truth in Lending Disclosure; long addresses now print completely on up to 4 lines.

Updated the Custom Fields screen to allow editing when using Citrix XenApp 5.0.

Corrected an error when importing documents into Stored Documents when using Citrix XenApp 5.0.

General Changes (Standard and Enterprise)

Updated the 1003 Loan Application. The new form is required beginning July 1, 2010. Added the new Identifier fields at the bottom of page 3. Also removed the signature lines from pages 1 and 2.

Added NMLS IDs and License Tracking Options. The new 1003 requires loan originator and loan origination company identifiers (aka NMLS IDs). For more information click here.

Added license information by state for loan officers and organizations (Enterprise Only). For more information click here.

Added the ability to print logos and license information on the top of each document. For more information click here.

Added a Business Day Calculator for the "settlement charges available through .." date in 'Important Dates' on page 1 of the GFE. The Fill button associated with that date now automatically calculates the date using business days. To set up which days are business days select Customize > Defaults > Business Days.

Renamed the "Closing Cost Estimate" to "Closing Cost Worksheet". The form can now be customized by going to Customize > Defaults > Closing Cost Worksheet.

Added a "GFE Fee Worksheet". This new worksheet is similar to the Closing Cost Worksheet, but breaks fees down in a way that allows them to be more easily compared to the fees on the GFE. The same defaults that apply to the Closing Cost Worksheet also apply to the GFE Fee Worksheet.

Updated the Changed Circumstances Edit screen. There is a new "Fill Change Details" button that assists in entering the details for the changed circumstance. To view the Changed Circumstances screen select Goto > General Forms > GFE 2010 Page 2, then click the Changed Circumstances button at the top of the screen.

Added the ability to calculate the FHA monthly MI using a 'Shorthand Method'. To choose the Shorthand Method select Customize > Defaults > GFE - Prepaids. Look for an option labeled FHA MI Calculation Method. Click on the Explain link for a detailed explanation of the available options.

Added the ability to include GFE Block totals in reports. In the management reports field chooser, look for the new fields in the Loan category, beginning with 'GFE block' and the block description. Also added 'GFE Adjusted Origination Charge', 'GFE Adjusted All Other Charge' and the 'GFE Adjusted Total Charge', 'HUD1 Adjusted Origination Charge', 'HUD1 Adjusted All Other Charge' and 'HUD1 Adjusted Total Charge'.

Updated the Notes screen so that each change is prefaced with the user name and time stamp. Select Goto > Tracking > Notes and click the 'Edit Notes' button at the top of the screen.

Added support for Spanish characters within the loan file, on printed loan documents and in the Defaults. Spanish characters are replaced with their ASCII (non-accented English) equivalents in file names. Spanish characters in loan files submitted for underwriting or exported to service providers will have Spanish characters replaced, in the export file, with their ASCII equivalents.

Added a CTRL+D keyboard shortcut to fill in today's date in any date field. While the cursor is in any date field, hold down the CTRL and D keys at the same time, and the field will be set to today's date.

Updated the Profitability screen by adding the ability to designate your company as a lender or broker for determining the profit amount. Set the default at Defaults > Company Information, and choose from the 'My institution does business as ..' dropdown list (lender or broker). This default will not affect the loan file except for the profit amount. Override the default on a specific file by clicking the override field in 'On this file, your company is ..' Choose lender or broker from the dropdown list.

Added the ability to create a piggyback second for an FHA loan. Click the 'Create Piggyback Second' button at the top of page 1 of the GFE, just as you would when creating a piggyback second for a conventional loan.

Added new 'Other Incomes' types. 'Mortgage Credit Certificate', and 'Trailing Co Borrower Income' were added to Fannie Mae submissions and MISMO 2.6 imports and exports (used for closing document providers and others). 'Boarder Income' was also added for Fannie Mae submissions only.

Added 'Itemization of Our Origination Charge' document for VA loans in accordance with VA Circular 26-10-01 dated Jan 7, 2010.

Added the option to have 'Seller Itemization' turned on for new files by default. To enable this option, go to Defaults > GFE Closing Cost Setup, and check the 'Show Seller Itemization on new files' checkbox.

Updated the Byte Classic to BytePro importer. The importer now includes the 2010 GFE fields.

Update the Standard Copy and Limited Copy options so that the copied file is always marked as 'GFE Not Delivered'.

Added a new menu item to access the Security Manager (Standard Only) Click Tools > Security Manager instead of going indirectly through the link on the Home page or accessing it from the login screen.

Added the California 882 Mortgage Loan Disclosure Statement. Select Goto > State Forms > CA MLDS/GFE 882.

Enhanced the Conversation Log by adding a drop down list for the Talked To field. The list is populated with borrower names and other parties to the loan.

Form Updates

Removed shading from the GFE. Shaded areas were changed to black and white to reduce problems with faxing.

Updated the balloon indicator on page 1 of the GFE so that loans that are interest-only for the full term are marked as balloon loans.

Revised the Itemization of Amount Financed so that items that have no dollar amount no longer display "$0.00"; instead no value is displayed.

Updated the HUD-1 page 2 to no longer show prepaid amounts that are not escrowed. The item must be flagged as ‘Not Escrowed’ on the item edit screen, and months in reserve for the item must be blank or 0.

Corrected HUD-1 page 3 to display interest rates to 3 decimal places in the 'Can Your Interest Rate Rise? section.

Updated the HUD-1 page 3 Comparison Table to display negative amounts instead of N/A when the HUD1 'Changes that cannot in total cannot increase more than 10%' total is less than the GFE total.

Updated the FHA 203K Worksheet (92700). The new revision date is 06/09 (bottom right).

Changed the VA Loan Summary and VA Loan Analysis forms to properly include liquid assets for a cosigner to the loan. Also added an override to the 'Liquid Assets' field on either form.

Updated VA form 26-8978 - Rights of VA Loan Borrowers. Added the subject property address, loan file name, and signature lines.

Made minor revisions to the HUD Mortgage Broker Contract in accordance with the proposed HUD document.

Updated the Florida Mortgage Broker Agreement

Removed the GFE from the Agreement (page 3).
Changed the first sentence in the box on page 1 to remove the reference to the GFE of page 3.
Updated the wording under 'Good Faith Estimate' on page 2, and removed the sentence beginning "The numbers listed ..'
Updated the wording under "Application Fee" on page 2, removed the sentence beginning: "The Good Faith Estimate will indicate whether .."
Under the heading "Title" on page 2, removed the reference to page 3.

Interface Changes

Added the following new interfaces:

1SourceData (credit)
Accurate Financial Services (credit)
AppraiserLoft (appraisals)
Cal Coast Credit (credit)
Credit Data Corp (credit)
Credit Information Systems (credit)
Document Express Flood (flood determination)
KCB Information Services (credit)
LPS National Flood (flood determination)
StreetLinks (appraisals)

Updated the Mortgagebot interface. Added the ability to upload Approved or Declined status viewable by consumers for Mortgagebot consumer sites. (A separate purchase required for the Mortgagebot interface.)

Updated the Fannie Mae submission file format.

Added these fields:

Loan Originator Identifier (12 or fewer numeric characters)
Loan Origination Company Identifier (12 or fewer numeric characters)
Appraiser’s State License Number (from Appraiser party)
Supervisory Appraiser’s State License Number (added new 'Supervisory Appraiser's State License number' to Additional Info tab on the 'Appraiser' party screen)
FHA Gift Source

Note, Fannie Mae requires that the Identifier fields contain only numeric values. If you have filled the NMLS fields with non-numeric characters (for instance because you are part of a federally regulated institution and do not use NMLS Id's), you will receive validation errors when submitting to Fannie Mae. To prevent the validation errors, select Customize > Defaults > Fannie Mae Export, and uncheck the box labeled "Export NMLSID values in Fannie Mae data".

Added the ability to recognize Lease Payments and HELOCs when importing debts from a credit report.

Updated Freddie Mac 'Send to your system' interface. 'Documentation classification' and 'Risk type' now populate the corresponding fields on the 1008. See the Freddie Mac topic in the User Guide for more on using 'Send to your system'.

Added the ability to designate Freddie Mac credit technical affiliates. Choose your default credit agency from the 'Credit Agencies' dropdown list. If appropriate, choose an affiliate from the dropdown below (currently, only Equifax has technical affiliates).

Updated the HMDA.DAT export file. HMDA export files created from loan files whose action dates are on or after January 1, 2010 will now be formatted correctly for the 2010 version of the FFIEC software.

Updated MISMO 2.6 export (to closing document providers and others) to include only 12 months of escrow payments.

General Changes (Enterprise Only)

Added Sandbox Mode, which allows the user to open a file and make changes which are not saved back to the database. To open a file in Sandbox Mode select the file on the Loan Files screen, click the down arrow to the right of the Open File button, and select Open in Sandbox. For more information click here.

Added Closing Cost [All] and Prepaid Item [All] to the 'Table' dropdown list in Object Permissions.

Select Closing Cost [All] from the 'Table' dropdown and then a closing cost field on the left – GFE Block, GFE disclosed amount, etc. to set security profile permissions for that closing cost field within all closing costs at once.

Individual object permission closing cost fields (802, 803, etc) may override the ClosingCost [All] field selection with a permission other than 'inherited'.

Improved performance on databases containing a large number of loan files and/or management reports. Improvements may be noticed when opening the program, viewing the Loan Files screen, and running management reports.

Added the ability to set the maximum number of files to view on the Loan Files screen. Click on the new Edit Search Defaults link which appears above the New File button. Reducing the number of files returned can improve performance under certain conditions.

Updated the 'GFE Delivered' field so that the field gets set to Delivered when the GFE is printed, even if Object Permissions are employed to restrict the user from changing the field. If an administrator makes the GFE Delivered field read only in Object Permissions, the field will be set to Delivered when the GFE is printed, and the user will be unable to change the field back to 'Not Delivered'.

Added 'Tax Service Company' to the list of parties that can be configured in Tools > Admin Tools > Security Manager> Parties.

Enhanced the software development kit (SDK) by adding an event to trigger when a file opens. For more information see the SDK Guide.

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