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Enhancements to AUS Integrations - Support for DU Spec Version 1.8.2

Charlie Gunn
  • Updated

Overview

Release 6.0.4000 provides additional support for integration with Desktop Underwriter (DU) in order to comply with DU Spec Version 1.8.2 

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Updates to the Loan Application

In order to provide support for DU Spec Version 1.8.2, the following changes have been made to the loan application:

 

Assets - Other Assets & Credits - New Credit Types

The following credit options have been added to the Asset/Credit type field in the Other Assets & Credits section on the "Assets" page:

  • Builder Developer
  • Employer Affiliate
  • Lender Affiliate
  • Real Estate Agent
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When any of these credits are included in the Assets section of the loan application, they are included in the calculated total that appears in line M of Section L4 and are included in pricing, when applicable.

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Subordinate Financing - 'Monthly Payment' Field

A new Monthly Payment field has been added to the "Subordinate Financing Details" window. This new field only appears under the following circumstances:

  • the Concurrent 2nd Mortgage type is set to 'Community'
  • the Repayment Structure is set to 'Any payment required within first 5 years'

This optional field can be used to enter the monthly payment on a concurrent second mortgage. When this figure is provided, the amount is calculated as part of 'Subordinate Liens P&I' in Section L4 

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2106 Expenses from Tax Returns - Calculate as Monthly Expense/Liability

Expenses from tax returns are no longer calculated by the system as negative income. Instead, these expenses are now calculated as a liability. This means that adding 2106 Expenses from Tax Returns on the "Credit" page will not result in a reduction in the borrower's income, but will instead be reflected as a part of the borrower's expenses.

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Acceptance Criteria

Use Case #1: New Credits UI & Calculation
 
  1. Log in to oPOS/TPO
  2. Start a new loan application
  3. On the Assets tab, add a new Other Asset
  4. Open the Asset/Credit Type drop-down menu
  5. VERIFY: the following options appear in the list:
    • Builder Developer
    • Employer Affiliate
    • Lender Affiliate
    • Real Estate Agent
  6. Add one of each Other Credit type (new and existing) with test dollar amounts
  7. VERIFY: 
    • All credits are added successfully
  8. Navigate to the "Loan Details" page and refer to Section L4
  9. VERIFY: line M is calculated properly according to dollar amounts entered in step #6
  10. Finish completing the loan application
  11. Shop for Rates and review the Pricing Results page
  12. Select the Closing Costs amount for a loan product to open the Detailed Costs Summary
  13. VERIFY: the Detailed Costs Summary correctly displays the Other Credits entered in step #6 
  14. Select and apply a loan option
  15. Add the following additional Lender and Seller Credits:
    • Property Tab
      • Lump sum Seller Credit
    • Closing Costs Details page
      • Seller Paid Fee(s)
      • Lump sum Lender Credit
      • Lender Paid Fee(s)
  16. Repeat steps 11-13, verifying all Other, Lender and Seller Credits 
  17. Navigate to the "Loan Details" page
  18. VERIFY: The Credits are reflected in Section L4 – Required Funds or Cash Back correctly,
 
Use Case #2: Community Second P&I - UI and Calculations
  1. Log in to oPOS/TPO
  2. Start and complete a new loan application
  3. Navigate to the "Loan Details" page
  4. Open the modal window on line J in Section L4
  5. Set:
    1. Concurrent 2nd Mortgage [Type] = Community
    2. Repayment Structure = Any payment required within first 5 years 
  6. VERIFY: The new Monthly Payment field appears below the Concurrent 2nd Mortgage field
  7. Enter a dollar value into this field
  8. Shop for Rates and review the Pricing Results page
  9. VERIFY:
    • Check both 'defaulted' loan options and additional options added to the Pricing Results Grid
    • Check both 'defaulted' loan options and additional options added to the Pricing Results Grid
    • The Community Second P&I is displayed in the Payment Breakdown modal window
    • The Community Second P&I is included in the Total Estimated Payment on the Payment Breakdown modal window
    • The Community Second P&I is included in PITI value displayed in the Pricing Results Grid
    • The Community Second P&I is included in the DTI in the Pricing Results Grid
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Use Case #3: 2106 Expenses from Tax Returns - Calculations
 
  1. Log in to oPOS/TPO
  2. Start a new loan application
  3. On the Credit tab, enter an amount for 2106 Expenses from Tax Returns
  4. Complete the loan application
  5. Shop for Rates and apply a loan option
  6. Navigate to the "Loan Details" page
  7. VERIFY: the borrower's income has not been reduced by the amount entered in step #3
  8. VERIFY: the amount entered in step #3 is reflected on the Other Liabilities section

 

Corresponding Feature(s): 456316

 

 

 

 

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