Release 6.1.1000 serves as a preview of Cloudvirga's Third Party Originator (TPO), a comprehensive point-of-sale solution designed specifically for Wholesale Mortgage Brokers. TPO uses a streamlined version of the standard oPOS interface with specialized updates to cater specifically to Wholesale scenarios. Additional updates provide user interface and configuration enhancements for both Retail and TPO users. The following release notes provide detailed descriptions of the changes included in this release. Select the name of any article in this list to learn more about the corresponding feature.
cPOS
- A new consumer site Admin page allows system administrators to modify the appearance of cPOS to align with their desired brand appearance at each level of the company hierarchy, including adding logos and changing colors, fonts, and footer information.
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TPO
Enhancements to +New Dropdown - Icons and Descriptions
- This feature provides changes to the +New dropdown in TPO to make it easier to understand the functionality of each option in the menu.
Edit Loan Date - New Configurations*
- This feature allows Admin users to configure how and when the loan date can be edited when importing an FNM 3.2/M 3.4 file in TPO. This release note provides an overview of several new loan application date configurations and offers instructions for setting up these configurations.
Enhancements to Disclosures - Add Affiliates
- A new Affiliates subsection has been added to allow users to disclose any business affiliates associated with a loan when completing the Provide Closing Information task on the Submit, Request ICD, and Closing Docs tabs.
- Users can now add or remove their existing business affiliates in iMP System Admin. Added affiliates are used for completing the Anti-Steering section on the Disclosures tab and for completing Provide Closing Information.
Added Support for Partial Export to LOS
- This feature provides additional support to export pricing and fee data via MISMO 3.4 to the lender's LOS when certain pricing events occur in TPO after the line-of-demarcation has been passed. This ensures that the information stored in the LOS remains up to date with the pricing and fee engines.
New Vendor Manager Product for Change Requests*
- A new Vendor Manager product called 'Request Changes' has been added under Document services to support change requests sent from TPO to the lender's LOS.
TPO Loan Assignments Modal Window Update
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The Loan Assignment window has been updated with new fields to reflect the addition of the Regional Sales Manager, Account Executive, and Account Manager roles.
Update Loan Participant Information in TPO to Sync with LOS
- This feature provides system updates to ensure that loan participant data remains accurate within TPO after initial disclosures have been created (post line-of-demarcation). Users can now review and update this information when the system detects participant data that does not match what is contained in the LOS.
Enhancements to the Loan Application - Default Field Values (Client-Specific Enhancement)*
- Admin users can now remove the Buying Stage field from the "Property" page in the loan application (this feature does not affect all users)
Enhancements to Pipeline, Message Bars, and Email Notifications
- The pipeline now includes a Submission Status column, and message bars have been improved to appear more consistently across the site.
Editing the Broker Compensation Fee*
- Users can now modify the broker compensation fee that appears on the "Pricing Results" and "Closing Costs Details" pages when the broker compensation is set to 'Borrower Paid'.
Enhancements to Request ICD/Closing Docs - Set Estimated Closing Date
- The Confirm/Set Estimated Closing Date tasks are no longer used to determine the closing date directly in the Cloudvirga platform. Instead, this task is now used simply to indicate that the closing date has been requested from the LOS. The closing date is now determined solely via data sync with the LOS.
Enhancements to Conditions - Disable Condition Actions*
- A new condition status called "Pending Review" has been added to indicate when an underwriter is currently working on the corresponding condition. A new configuration has been added to prevent users from modifying a condition when it has been submitted or is under review.
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oPOS/TPO
- Several updates have been made to locking configurations and system logic to ensure that locking services work properly for both Retail and TPO users.
Enhancements to the Borrower's Needs List: Hiding Documents
- This feature adds a new Admin menu where documents can be hidden from the Document Type dropdown when classifying an uploaded document in the Borrower's Needs List or the DocVault.
Enhancements to Loan Assignments - Bulk Reassignments
- This feature provides new functionality to enable users with the appropriate privilege to reassign the loan officer or another loan team member on multiple loans at the same time. This makes it easy to manage loan assignments when similar changes to the loan team need to be made to more than one loan.
Enhancements to Loan Import - Edit Borrower Email After Import
- This feature allows users to edit the borrower's email address after importing a loan via FNM 3.2.
Enhancements to Locking - Enable iFrame to Lender Price Site for Locking Services
- Clients using the Lender Price pricing engine can now perform locking services through the Lender Price site directly within TPO.
Enhancements to Company Branding - Footer on Login Pages
- A footer has been added to the login page for oPOS, TPO, and cPOS.
Enhancements to Price Quote Workflow
- This feature provides several updates to the price quote workflow to make it easier for users to manage multiple price quote scenarios for the same borrower and to keep their quotes separate from active loan applications in their pipeline.
- A new configuration has been added that allows Admin users to remove the Credit Score Range field that appears in the Qualifying Information section on the "Shop for Rates" page, and a new privilege allows users to override the Decision Score returned from a credit report when shopping for Non-QM loan products.
New Fields for Non-QM Workflows
- New fields have been added to the "Shop for Rates" page to allow users to shop for Non-QM loan products.
Enhancements to Pricing Results - Group Products by Program*
- This feature provides the ability to group loan products by program on the "Pricing Results" page, instead of grouping products by amortization type and term.
Enable Auto-Export Documents to Encompass*
- Admin users can now configure the system to export uploaded documents automatically at pre-determined trigger points throughout the loan process and have them classified accordingly into a set of configurable folders in Encompass.
Enhancements to Pricing Actions - Modify Passed Closing Date
- This feature provides updates to make it easier to update the estimated closing date when running pricing or price/fee updates with an invalid closing date.
Importing Documents from Encompass*
- This feature provides support to import documents from Encompass via API to ensure that the system is correctly updated with all documents contained in the lender's LOS.
Enhancements to Shop for Rates Page
- Loan data entered on the Shop for Rates page will no longer affect the corresponding fields in the loan application. This will prevent unintentional changes to the loan record when users modify information on the "Shop for Rates" page.
Enhancements to Tax Request Forms
- The existing configuration "Disclosures.TaxTranscriptRequest.DefaultMappings" has been updated to include an additional field ("Sect5Name2") that is used to provide a second IVES participant name to be designated "care of' in section 5 on form 4506-C. This ensures that a second IVES participant name can be properly exported to DocuTech and the LOS so that forms 4506-C (IVES Request for Transcript of Tax Return) and SSA-89 (Authorization for SSA to Release SSN Verification) are generated correctly by the system.
Integration Enhancements: Support for Lender Price - Recommended Settings*
- Cloudvirga now supports integration with the Lender Price pricing engine. This release note provides a list of recommended configuration settings for clients using this pricing engine.
Enhancements to the DocVault - Rejection of eSign and eDisclose Only Disclosure Packages
- When multiple e-Sign Only disclosure packages of the same type are added to the DocVault, the older package will no longer be moved automatically to the 'Rejected' folder, allowing users to decide manually which disclosure package(s) should be rejected/removed, when applicable.
Enhancements to iMP System Admin - New Roles
- Three new user roles have been added for TPO environments: Regional Sales Manager, Account Executive, and Account Manager. These roles are designed to provide targeted access to loans at different levels of the company hierarchy.
Enhancements to Loan Import - Edit Borrower Email After Import
- This feature provides support to allow users to edit the borrower's email address after importing a loan via FNM 3.2
Enhancements to Disclosure Tracking - Configure Disclosure Delivery Date*
- This feature provides the ability to configure when the system considers disclosures to be delivered for online borrowers.
Enhancements to Email Management*
- the email notifications user interface has been updated to make it easier to understand each email template and to identify who should receive each kind of notification. Notifications now contain a short description of the template's purpose and a brief explanation of what circumstances trigger the sending of the email notification.
Improvements to Zip Code Fields
- This feature provides additional logic to the subject property ZIP code field when an entered ZIP code is associated with multiple counties or states. This field will now auto-select the county or state in which the loan officer licensed.
Investor Name Hidden from oPOS/TPO UI
- This feature provides updates to prevent TPO users from seeing the investor associated with a selected loan product throughout the site. The investor name will now only appear on the "Pricing Results" page
- Changes have been made to several font colors throughout oPOS in order to improve contrast
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iMP System Admin
Enhancements to Pricing Configurations - Updated Labels*
- Two existing configurations in iMP System Admin, "Pricing - Override Price/Rate Dropdown Options" and "Pricing - Set Price/Rate Default Value" have been renamed to better reflect the fields that they affect.
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