Pipeline Solutions News

1-18-2010 - New Pipeline Version Released

Pipeline Solutions has just released version 5.9.1 of it's Mortgage Loan Origination Systems. A complete listing of features and changes in this important update are listed below:

Version 5.9.1 (1/18/2010) Notes:

1. Added back the old GFE and renamed it to Closing Costs
and Payment Detail and took off the RESPA specific text

2. Completed HUD-1 page three missing information - this is
a print only document for now. The information is taken
from the Loan Features, GFE, and HUD-1 fee screens. We
are working on a WYSIWYG screen similar to the new GFE

3. Added itemization if agent and underwriter's portion of
the total title insurance

4. Added the ability to make the miscellaneous fees in the
HUD 1200 series either GFE category 7's or 8's

5. Added the California RE-882 to comply with the State
directive to use this form in lieu of RE-883. The old
RE-883 screens are still used to complete the 882. We will
be adding 882 specific screens if DRE doesn't come out
with a revised document any time soon

6. Added Receipt of GFE and Intent to Proceed Document. There
are two different versions - one with the Loan Originator's
name and signature and one without

7. Fixed a problem with the ARM and Buydown Fee "Next Payment"
calculation on the new GFE. This problem was specific to
the new GFE and did not affect other calculations

8. Fixed Buydown Fee misclassification on the new GFE. When
calculating the actual buydown fee, i.e., the sum of the
difference in payments over the bought down term, Pipeline
was automatically coding the charge as a Block 11 item, when
it should be Block #2 item

9. Added back the 2009 Service Provider Addendum as an option
to print (this is for pre 2010 loans still under the
old rule)

10. Added clearer verbiage to the 2010 Service Provider
Addendum

11. Fixed a reported lockup on the APR screen when editing
Loan Features without adequate loan terms in place

12. Exposed hidden 2010 GFE category field in Closing Cost
Plans and Fee Descriptions. The drop list was invisible
which prevented the user from setting GFE Block
assignments in Closing Cost Plans and Fee
Descriptions/Reg-Z Charges

13. Fixed Owners Title Insurance coverage amount - should
be Sales Price for Purchases

14. Resolved the business day calculation on in 2010 GFE
"Important Dates" - considers 9 federal holidays and
weekends. Be sure to enter you RESPA default values
for the number of days in Company Information on the
Maintenance Menu

15. Defaulted initial closing cost view to the 2010 GFE when
Disclosure Date is later than 1/1/2010

16. Added the First Payment Date to the first page of the
2010 GFE screen

17. Added a warning and denied printing of disclosures when
disclosure date is not present

18. Added Indiana Notice to Borrower/Prospective Borrower

19. Added "Funders" and "Closers" to the Underwriting
Conditions Screen as personnel who are allowed to clear
conditions.

20. Fixed Section #2 on the new GFE when brokering a loan -
Box #1 should never be checked. The Pipeline Brokered
Loan check box (See Loan Setup) must be check for this
to work. The Brokered Loan check box is also above GFE
Block #2 on the same screen.

21. Fixed a problem when ordering merged credit on and FHA
loan in the Loan Prospector interface

22. Removed the references to Good Faith Estimate from the
Disclosure Cover Letters

23. Yield Spread and Service Release premiums are no longer
appearing in GFE Block #1 automatically. Brokers need to
make sure the origination fee or broker fee reflects what
they should be making on their loan. Brokers can use YSP
to post a borrower credit or use Loan Discount and enter a
negative number, the net effect is the same. As a reminder,
for "Zero" cost loans, you can mark any item as "Paid By"
lender or broker and Pipeline will automatically total these
items and post a credit in Block #2. The alternative is to
post a bulk credit in Discount or YSP.

Click here to access the update page.