Release Notes - BytePro Loan Modification Edition

BytePro Loan Modification Edition 6.0

Version 6.0 was released on December 20, 2011. It contains the following changes:

Added two revised documents.

  • Added the revised HAMP Request for Mortgage Assistance document (this was formerly the Request for Modification and Affidavit).
  • Added the revised HAMP Modification Cover Letter.

Both documents were published on the HMPAdmin website on the Borrower Documents web page, dated October 26, 2011.

Added a new field 'We service a second mortgage on the property' to the BytePro Mod Agreement screen (Conditional Language section)

This field supports the second conditional clause '[Name of Servicer] also services a second mortgage loan ..' on the new Modification Cover Letter.  

 

BytePro Loan Modification Edition 5.4

Version 5.4 was released on September 29, 2011. It contains the following changes:

Added the new HAMP Trial Plan Period Notice.

This document is required effective October 1, 2011.  See Fannie Mae Announcement SVC-2011-08R and Freddie Mac Bulletin 2011-11 for more information on the updates.

Note: Two versions of the Trial Plan Notice are included in this release. This is due to revision changes present in the Freddie Mac Evaluation Model Clauses which are not present in the Fannie Mae Evaluation Model Clauses as of September 29, 2011.

Trial Plan Notice Rev Jun 2011 contains the language from the 'HAMP Trial Period Plan Notice' section in the Fannie Mae Evaluation Model Clauses document (in Misc. section) dated June 2011.

Trial Plan Notice Rev Sept 2011 contains the language from the 'HAMP Trial Period Plan Notice' section in the Freddie Mac Guide Exhibit 93 Evaluation Model Clauses document (bottom of the webpage) dated June 2011 (Revised Sept 2011).

Added Borrower Solicitation Letter – 31 Days Delinquent and Borrower Solicitation Letter – 61 Days Delinquent.

These new documents are required by both Fannie Mae and Freddie Mac effective October 1, 2011. The 31 day delinquent Fannie Mae and Freddie Mac documents, and the 61 day delinquent documents were combined.

Added the Uniform Borrower Assistance Form 710, and the HAMP Government Monitoring Data Form 710A required for HAMP eligible borrowers.

Added 'Response deadline to suspend foreclosure' field to the Trial Plan screen (Key Dates section near the top) used on the Fannie Mae and Freddie Mac Trial Plan Notice documents. This calculated date is 14 days past the Trial Plan Preparation /Cover Letter date (displayed at the top of the Key Dates section).

BytePro Loan Modification Edition 5.3 Update 1

Version 5.3 Update 1 was released on August 2, 2011. It contains the following change:

  • Added a new field 'Trial Plan Type' with the values 'Standard Trial' and 'Chapter 13 Bankruptcy'. The field is located on the 'HMP - Reporting' screen and defaults to the value 'Standard Trial'. This field became required with the recent July 25th release of the hmpadmin 'HAMP Reporting Tool'.

BytePro Loan Modification Edition 5.0 Update 3

Revised HAMP documents in accordance with changes effective January 1, 2011. See current model documents and summary (for the Modification Agreement) published on the Treasury and Fannie Mae websites.

These documents were revised:

  • Modification Agreement
  • Counseling Letter
  • Modification Cover
  • Trial Plan Notice Verified

Added 'Original loan is first lien home equity of line of credit..' Yes\No dropdown field to the Conditional Language section of the HMP - Modification Agreement screen. Selecting 'Yes' for this field displays conditional paragraph P. on the Modification Agreement (revised 10\10) included with this update.

Corrected Principal Balance on the HMP - Modification Agreement screen to include the PRA forgiveness amount if a PRA Waterfall is accepted for the modification (non-GSE loans only).

BytePro Loan Modification Edition 5.0 Update 1

Updated HAMP Reports to December 23 Release Version

BytePro's first lien HAMP reports,  HMDA NPV report, and HAFA reports were updated for compatibility with the December 23 report release (see more on support for HAFA Reporting in HAFA notes below). See the December 23, 2010 version of the HAMP Data Dictionary (.xls file), the Additional Data Requirement Data Dictionary (.xls file), and the HAFA Data Dictionary (.xls file) on the HMPAdmin web site for additional information on the new reporting fields and data requirements.

After installation you will not be able to generate an older version xml report, or add an older version xml report to a batch file containing December 23 release version xml files.

Before you install this update, compile and submit (if needed) any existing older version HAMP xml reports. The xml report version can be identified by its version number. An xml report created with the December 23 release has a version number of 3.0; the previous reporting release version number is 2.0. The version number of each xml report is listed on the HMP - Batch Reports screen (sidebar on the left with the loan file open). It is also displayed for each xml report file that have been added to a batch file (Tools > HMP Batch Reporting). 

You may also re-create the xml report for any file. A version 3.0 report will be generated.

Added New Reporting Fields

The following fields were added:

  • Supplementary Assistance Code (mandatory, indicates supplementary assistance provided to the borrower, or 'None')
  • Principal Reduction Alternative Code (mandatory, indicates the waterfall type for the modification)
  • Delinquency Type Code (required for a PRA modification)
  • Restriction for Alternative Waterfall Type Code (required for non-GSE loan if MTMLTV > 115% or alternative principal forgiveness > 0 if investor prohibits principal writedown)
  • Forbearance Plan Type Code (optional, if a forbearance period is granted to the borrower)
  • Unemployment Monthly Forbearance Amount (required if Forbearance Plan Type Code is either 'Unemployment' or 'Unemployment and Federally Declared Disaster')

Changes to the HMP - HMDA Reporting Screen

New values were added to these existing fields (both on the HMP - HMDA Reporting screen):

  • Trial Fallout Reason Code - added 'Federally Declared Disaster'
  • Trial Not Approved/Not Accepted Reason Code - added 'Unemployment Forbearance Plan', and 'Federally Declared Disaster'

Changes to the HMP - Reporting Screen

Added 'Supplemental Assistance Code', 'Restriction on Principal Writedown' and 'Forbearance Plan' to the Loan Details section.

Added 'PRA NPV Model Result Amount' (pre-mod amount) to the Pre-Modification Details section. Added 'PRA NPV Model Result Amount (post-mod amount) to the Post Modification Details section.

Added new 'Unemployment Plan' section to HMP - Reporting screen with these fields:  Payment Reduction Amount, Forbearance Plan Term and Forbearance Plan Effective Date.

Added new 'PRA Accepted Solution Details' section to the HMP - Reporting screen (at the bottom) containing these fields:  Amount Capitalized (this field is the same value as Capitalized Arrearages), PRA (Forgiveness) Amount, Delinquency Length Type, and PRA Code.

Note:  You must select a value for 'PRA Code' (way at the bottom on the right of the HMP - Reporting screen) whether the standard or PRA waterfall is accepted for the modification. You must also select a value for 'Supplementary Assistance code', whether or not the borrower receives supplemental assistance.

Moved Servicer Login to the Organization level. This field is required to generate a compiled batch report. To add the servicer login, go to Security Manager > Organization, double-click the organization under which reports are submitted, and enter the login in the 'Servicer Login' field.

Corrected warning to display on the waterfall column when forbearance amount exceeds the limit of 30% of the unpaid principal balance.

Added Support For Home Affordable Foreclosure Alternatives (HAFA) 

Added supporting screens, documents, and reports for the HAFA program.

Added Screens

The HAFA - Short Sale screen was added. It contains:

  • dates to track and other data needed to document the short sale process.
  • text and file data needed for the Short Sale Agreement, Request for Approval of Short Sale and other included short sale documents.
  • data required for HAFA short sale Treasury reporting. 
  • MANP and list price calculations dependent on the investor selected for the file. 

The HAFA - Deed-in-Lieu screen was added. It contains:

  • date and data tracking needed for documenting the DIL process.
  • conditional text and data needed for the Deed-in-Lieu agreement and other included documents.
  • data needed for HAFA DIL Treasury reporting.

The HAFA - Reporting screen was added. It contains all fields needed for HAFA Deed-in -Lieu or Short Sale Treasury reports, including notification, setup and cancellation submissions.

Added HAFA Documents

  • Fannie Alt RASS Form 185
  • Fannie DIL Agreement Form 186
  • Fannie RASS Form 184A
  • Fannie Solicitation Form 183
  • Fannie SSA Form 184
  • Freddie DIL Form 1139
  • Freddie RASS Consent Form 1137
  • Freddie RASS  Decline Form 1138
  • Freddie RASS Form 1136
  • Freddie SSA Form 1135
  • Treasury Alt RASS Form A1
  • Treasury DIL Form C
  • Treasury RASS Form A1
  • Treasury SSA Form A

Note that you must select the document(s) corresponding to the investor on the file.

Optional language was included, and highlighted for visibility.  Carefully review the optional sections, edit language as needed, and remove highlighting before providing the forms to the home owner.

Added Support for Treasury Reporting

Short Sale and Deed-in-Lieu reporting are both supported. Data entered on the Short Sale and Deed-in-Lieu screens transfers to the HAFA - Reporting screen, or you may enter data directly. HAFA xml reports are created and compiled into batch files to submit to the Treasury, in the same manner as BytePro's HAMP reporting.

 

BytePro Loan Modification Edition 4.2 Update 2

Added Support for First Lien Principal Reduction Alternative (PRA)

See Supplemental Directive 10-05 for additional information. 

Added PRA proposed and accepted waterfall solutions.

The PRA waterfall columns are visible on the HMP-Worksheet (and Home) screens only under the following conditions:

  • The investor is not a GSE (not Fannie Mae or Freddie Mac)
  • The mortgage type is not FHA or VA
  • The MTM LTV (unpaid principal balance plus arrearages/ current appraised value) is greater than 115%

On the Worksheet screen, click 'Accept' beneath either the Standard or PRA solution to adopt that solution for the loan modification.

Data from both the Standard and PRA solutions will be included in the NPV reporting spreadsheet for NPV version 4.0, as required.

Added additional columns to the Calculation Details screen.

Added Forbearance, Principal Reduction and MTM-LTV columns.

Added PRA NPV fields to the 'NPV Test' section.

Look for the new fields at the bottom of the 'HMP - Worksheet' screen. 'Pre-Mod NPV (PRA)', 'Post Mod NPV (PRA)' and 'NPV Results (PRA)' fields were added.

Added Support for NPV Model Version 4.0

Select 'Version 4.0' from the 'NPV Version Model' dropdown list on the HMP-NPV version screen.

Added 'Modification Details - PRA Waterfall' section.

The new section contains new PRA data fields required for NPV model 4.0. It is located at the bottom of the HMP-NPV screen. The original Modification Details section has been re-named 'Modification Details - Standard Waterfall'.

Document Update - September 2 Release

Updated the Counseling letter and Solicitation letter in accordance with document revisions published by the Treasury, Freddie Mac and Fannie Mae, July 2010.  The Freddie Mac Document Request letter (Form 1121, 7/10 revision) was also added.

Optional language was included, and highlighted for visibility.  Carefully review, edit language as needed, and remove highlighting before providing the forms to the borrower.   Optional language requesting either a IRS Form 4506T-EZ or 4506-T was deferred to the 4506-T, which is available in the program.

BytePro Loan Modification Edition 4.2 Update 1 - June 30 Release

Fixed the override value for the 'Escrow Payment Before Modification' field on the 'HMP – Reporting' screen. The override value is now used to calculate the following fields:

  • Monthly Housing Expense Before Modification
  • Front Ratio Before Modification
  • Back Ratio Before Modification
  • P&I Payment at 38% DTI

In prior versions these fields were always calculated using the calculated (non-overridden) value for 'Escrow Payment Before Modification'. 

If you do not need to override the 'Escrow Payment Before Modification' then you do not need to upgrade to this version.

BytePro Loan Modification Edition 4.2 Update 1 - June 7 Release

  • Fixed an issue that prevented changes to Custom Word Documents and Custom PDF Documents from being propagated automatically to each user.
  • Improved the speed of opening loan files under certain conditions.

BytePro Loan Modification Edition 4.2

Added trial data generation and qualifying tests for the FHA – HAMP program. See the ‘FHA – HAMP Program’ topic and subtopics in the Loan Modification 4.2 Help Guide for more information.

Updated the ‘Interest Rate Cap’ to always reflect the Freddie Mac Weekly Primary Mortgage Market Survey Rate (PMMS) for 30-year fixed rate conforming loans, rounded to the nearest 0.125 percent, as of the date that the Modification Agreement is prepared.

BytePro Loan Modification Edition 4.1 Update 1 - February 22 Release

Added 'Request for Modification Affidavit' (RMA) Word document.  The Loan Modification Edition Update web page has more information on updating and installing BytePro custom Word documents.  
This document is intended to replace the Hardship Affidavit and the SIGTARP notice, as well as portions of the old trial period plan document.  Servicers may require borrowers to complete the RMA, or alternatively require the use of a similar form(s).

Added the 'Trial Period Plan Notice - Stated Income,' and the 'Trial Period Plan Notice - Verified Income' Word documents.  The Loan Modification Edition Update web page has information on updating and installing BytePro custom Word documents.  
Both documents may be used immediately, but must be in use by March 1, 2010.

Corrected loan setup and trial payment report errors received during LPS submissions.

Removed warning about the negative NPV when mark-to-market LTV is less than 100% in accordance with supplemental directive 10-01, Fannie Mae announcement SVC-2010-03 and Freddie Bulletin 2010-3.

Added new warnings to the 'Pre-Mod NPV' and 'Post-Mod NPV' fields for Fannie Mae and Freddie Mac loans if the pre-mod NPV exceeds the post-mod NPV by more than $5,000. 

Added a warning to the forbearance amount entered, in accordance with supplemental directive 10-01, Fannie Mae announcement SVC-2010-03 and Freddie Bulletin 2010-3. The warning appears if the forbearance exceeds 30% of the unpaid principal balance and the mark-to-market LTV is less than 100%.

Added escrow shortage monthly payment to column W for NPV test submissions.  This is added to any existing HOA payment.

Re-labeled each of  'property value', 'appraised value' and 'appraised value (current property value)' fields to 'current appraised value' - for improved consistency.

 

BytePro Loan Modification Edition 4.1 Update 1 - January 26 Release

Added HMP HMDA NPV Report and associated data screen.

HMP HMDA NPV Report Screen 

  • Click 'HMP - HMDA Reporting' in the sidebar on the left. The new screen contains fields for all data required for the HMDA report,  including borrower ethnicity, race and sex.
  • If race, gender or ethnicity information is not available for the borrower(s), put a check to the right of the 'Race/ethnicity/gender information not available' field in Loan Details.
  • BytePro validation checks for any missing information required for the HMDA report. To trigger validation, click 'Create XML' at the top left of the screen.
  • A flag for 'Reported HMP HMDA information' is included at the top left.

HMP HMDA NPV Report

Click 'Create XML' (top left of the HMP HMDA screen) to create the internal report to include in the HMP HMDA-NPV batch report. Go to Tools (toolbar) > HMP Batch Reporting, and choose 'HMDA NPV File' from the Report Type dropdown list.

See the instructions below in the 4.1 Initial Release notes for more on creating and submitting a BytePro batch file to the LPS system.

Revised the Escrow Payment calculation to exclude any mortgage insurance payment.  This is in accordance with changes documented in the HMP Data Dictionary on the HMPAdmin website.

Revised Monthly Payment Amount to include escrow shortage also in accordance with changes to the HMP Data Dictionary.

Revised Submission Status selections:

  • Added new statuses, 'Official Correction' and 'Official Cancel'.
  • Changed status 'Cancel' to 'Trial Cancel'.
  • Flagged statuses 'Borrower Disqualified' and 'Foreclosure Mitigation' as obsolete.

BytePro Loan Modification Edition 4.1 - Initial Release

Added a replacement for the Data Collector spreadsheet.

The new reporting system allows you to create XML files for each reporting event that needs to be reported to the Treasury. Multiple reporting events can be batched into a single XML file for upload to the hmpadmin.com Web site.

Each reporting event is assigned a batch code. BytePro groups all reporting events with the same batch code and report type into the same XML file. To set the default batch code go to Customize > Defaults > HMP and enter a Default HMP Batch Code.

To report trial payments received, go to the HMP - Payments screen and press the "XML" button next to the payment you wish to report. BytePro will ask you to confirm the data, which will be stored in the loan file until it is reported. To view the reporting events that have been created for the loan file go to the HMP - Batch Reports screen.

To report the start of the trial period or an official modification go to the HMP - Reporting screen and press the button labeled "Create XML..." at the top of the screen.

Once you have created all of the reporting events for all of the files that need to be reported, select the Tools > HMP Batch Reporting menu item. On the HMP Batch Reporting screen, enter the Batch, the report type and the Organization that you wish to report for. Click the Query Records button. Confirm that the results are correct, then press the Compile Report button. BytePro will prompt for your Servicer Login Name. BytePro will then create an XML file on your hard disk. Upload the file to the hmpadmin.com web site as directed by the Treasury.

BytePro Loan Modification Edition 4.0 - Update 2

Added the ability to add or remove Home Owners Dues (HOA) from the escrow portion of the trial plan payment. 
To add the 'Home Owners Dues' to the trial period payment, check the 'Escrowed' box to the left of the HOD field in the 'Monthly Housing Expenses' section (top right) on the HMP - Worksheet screen.
Escrowed or not, the HOD amount will be included in the calculation of the borrower's current DTI.

Added several fields as specified in Supplemental Directive 09-06. These fields will be transmitted to the Treasury in a subsequent release:

  • Added "Trial Not Approved/Not Accepted Reason" and "Trial Fallout Reason" to the Status section of the HMP - Home screen. The possible values for these fields are specified on the last page of the Supplemental Directive 09-06.
  • Changed the subject property type field to reflect the property types outlined on Page 6 of the directive (13th row of Schedule I - Identifying Information). 
  • On the HMP - Application screen, added a new field labeled "Consent Provided", indicating whether or not the borrower signed the new hardship affidavit that provides borrower consent to report info to the Treasury. This corresponds to the "Consent Provided Indicator" field shown on page 8 of the directive.
  • Add a new field labeled "Race/Ethnicity/Gender Information Not Available". This corresponds to option 5 on the "Race/Ethnicity/Gender Source Type Code" shown on page 6 of the directive. 

Made several changes in support of the modified Hardship Affidavit, Trial Period Plan, Modification Agreement in effect as of September 30, 2009:

  • On the HMP - Application screen, changed the label "Application Method" to "Race/Ethnicity/Gender Collection Method". 
  • Added a message on the HMP - Trial Plan screen to indicate that the Note May Be Assumed and Subordination Agreement or Title Policy Required fields are no longer used on the Trial Plan.
  • Added a new field on the HMP - Mod Agreement screen labeled "Original loan docs did not include standard escrow provisions". The value of this field affects the language on the Modification Agreement.
  • Added a message on the HMP - Mod Agreement screen to indicate that the "Original Loan has Prepayment Penalty" field is no longer used on the Modification Agreement.
  • Changed the wording on the step schedule to indicate that the escrow amount "May adjust periodically" instead of "Adjusts Annually".

Added two new sample validation rules that check the value of the Yes/No selections on the Trial Plan and Modification Agreement.   

Included HELOC and subordinate loan payments to Liabilities total for the imminent default screen and the total debt ratio (used for credit counseling determination).
Subordinate loans and HELOCs are found in the 'Liabilities' section on the HMP - Application screen.  Double-click the mortgage or HELOC to edit.  The 'Account Type' must be Mortgage or HELOC and the 'Resubordinated' checkbox on the liability edit screen must be checked.

Included the escrow shortage monthly payment (total escrow shortage divided into 60 payments) in the total debt ratio, used to determine need for borrower credit counseling.  The total debt ratio is located on the HMP - Mod Agreement screen in the 'Modification Details' section near the bottom of the screen.

 

BytePro Loan Modification Edition 4.0 - Update 1

Added the NPV Model Version to the "HMP - NPV" screen. Based on the selection of the model, the "Copy to Clipboard" button will copy different fields:

    • If no NPV Model is selected the copy to clipboard will fail.
    • If version 1.0 is selected then you get a message that version 1.0 is not supported.
    • If version 2.0 is selected then you get fields A through AQ
    • If version 3.0 is selected then you get fields A through AR 

Modified column "AB - Mark-to-Market LTV" on the NPV spreadsheet to be current unpaid principal balance divided by the appraised value.
Note that in all other parts of the program the Mark-to-Market LTV is the modified interest bearing balance divided by the appraised value.

Corrected problems with the TIL when the modification has forbearance.

  • The itemization of amount financed includes the forbearance amount
  • The mortgage insurance cutoff (e.g. at 78% LTV) calculates off of the unpaid balance, which now includes the forbearance amount.
  • The mortgage insurance premium calculation is now factors in the forbearance amount.