MAJOR FEATURES
Unlock Freedom with Automation Rules in ARIVE LOS. (HOT-21457)
- Introduced support for Automation Rules to trigger specific actions based on predefined conditions on loan files.
- These rules automate various tasks and decisions throughout the loan lifecycle based on specific criteria. For example, automation rules can trigger actions such as sending notifications, updating statuses, or assigning tasks based on events or data inputs within the loan application process.
- They streamline workflow efficiency, reduce manual intervention, and ensure consistency in loan processing operations.
- Automation Rules are supported with ARIVE Pro Plan.
- Trigger's supported in ARIVE Automation Rules as:
- New Loan is created
- Loan Status changes
- Loan Date changes
- Subject Property changes
- Loan team changes
- Loan info changes
- Loan action initiated
- Custom field changes
- Borrower info changes (Coming Soon)
- Task status changes (Coming Soon)
- Action's supported for now in ARIVE Automation Rules as:
- Enforce required fields
- Set value of field to something
- Execute trigger with warning message
- Stop trigger execution with message
- Notify someone
- Create Task (Coming soon)
Loan Center : Revamped and merged Setup & Contacts with Loan center. (HOT-21291)
- Setup & Contacts and Loan Center have been consolidated into a single Loan Center. The user interface and user experience have been enhanced for improved usability. Additionally, a section has been added to display custom fields.
- Several features, including Notification & Reminder Settings, Mortgagee Clause, and Credit Repair, have been moved under an Action dropdown. The Lender/Product Information and Registration sections have been redesigned for a better user experience.
Loan Center: Custom field configuration in Loan Origination System. (HOT-21133 & HOT-21258).
- Added support for custom fields in the LOS under Company Settings. Users can configure custom fields for "Loan and Property" and "Loan Center" based on Mortgage Type and Loan Purpose.
- Custom fields can be created as input fields or drop downs. A checkbox option is available to include custom fields in reports.
- A permission framework is associated with each custom field to control view and edit access.
- Users can create automation rules based on custom fields.
Processing Review workflow. (HOT-21411)
- A new setting, “Restrict Processor Assignment,” has been added under Admin Controls in Company Settings. This setting requires loan review before processor assignment for the specified roles.
- By default, Company Admins and Owners have permission to assign processors to loans.
- The “Processor” role includes “Contract Processor” users if they have been granted processor assignment permissions.
- Roles without processor assignment permission will see a “Request/Re-Request” button inside the loan under File Contacts.
- When a user requests a processor assignment, an email notification is sent to those with processor assignment permissions as specified in the “Restrict Processor Assignment” settings.
- Request emails will be sent to roles such as Company Admin, Associate Admin, Branch Admin, Funder, Disclosure Desk, Payroll, and Lock Desk if they have permission to assign processors.
- Request emails will also be sent to other roles, such as Loan Officer, Loan Officer Assistant, and Processor (TPP), only if they are listed in File Contacts within the loan.
Flood Determination Certificate. (HOT-21128)
- A new tracker, Flood Determination Certificate, has been added for Non-Del loans. This tracker allows users to pull a new order, import an existing order with a vendorOrderId, or reorder a flood certificate.
- The tracker will have three statuses: Not Ordered, Ordered, and Received. Users can change the status by adding a date or by ordering a Flood Certificate. Once the order is received, the tracker status will be automatically updated to Received.
Please work with your Credit Vendor (CRA) contact to enable Flood Ordering on your Credit Account. Credit Credentials are used to order flood that have additional cost per your agreement with your Credit Vendor.
Document Center : Implement Finalized/Un-Finalized functionality and UI enhancements. (HOT-22351)
- We have added a new setting named “Restrict Finalize Loan Documents” under Admin Controls in Company Settings.
- When this setting is enabled, only Company Admin, Owner, and selected roles can finalize loan documents in the Documents section of the loan. All other user roles that are not selected will not be able to finalize or un-finalize loan documents.
- Once a document is finalized, users will not be able to re-classify, create e-sign needs, rename, edit, or delete the document.
- A new folder named Finalized Docs has been added, which will display all finalized documents.
- Finalized documents will not be moved to the Unused section.
- Documents in the Not Reviewed and Unused sections cannot be finalized.
- The earlier Document Stage label has been renamed to Lender Submission.
- Two new document stages, PTD4 and PTF, have been added.
Admin Control: A new setting menu that consolidates all administrative settings from Origination Info. (HOT-23725).
- We have introduced a new Admin Controls menu that includes all administrative settings, including those transferred from Organization Info.
- Some new settings are added as:
- Restrict Credit Account Credentials Edit
- Restrict Finalize Loan Documents
- Restrict Processor Assignment.
LOS: Added system fields. (HOT-21398)
New fields have been added to Loan & Property:
- Net Tangible Benefit: Includes a dropdown menu with options (Other, with an additional description field).
- Business Purpose (Inside Advance Features)
- The Net Tangible Benefit field will only appear in Refinance Loans. The Business Purpose field will appear in both Purchase and Refinance Loans.
Ability for Company Admin/Associate Admin to configure roles that can put Credit Credentials. (HOT-21056)
- We have provided the ability for Company Admins and Associate Admins to configure roles that can input credit credentials.
- By default, Company Admins, Owners, Branch Admins, and Associate Admins will be able to input credit credentials. However, Company Admins and Associate Admins can update these configuration if needed.
AUS (DU): Allow Preliminary finding options for GOV Loans(VA/FHA). (HOT-23564)
- There will be no restrictions on AUS for VA/FHA loans, and they can be run as preliminary findings as well.
- This is necessary because running interim or final findings requires the selection of a sponsoring lender, which incurs a secondary usage charge for the credit report.
- According to the credit agency and DU, running preliminary findings should not result in any additional credit report usage charges for VA and FHA loans
LPA: v5.4.0 Update. (HOT-20916)
Financial Info: Added a new Funds Source Type enum - Non-originating Lender in Grants assets. When selecting the fund source type as Lender or Non-originating Lender, two new fields are displayed: Grant Closing Cost Amount and Grant Down Payment Amount. These fields are only shown when the mortgage type is Conventional.
The Review Fee: J (Total Closing Cost) > Lender Credit value will be sent in the LPA export under the tag ClosingAdjustmentItemAmount. Previously, this value was not included in the LPA export.
LPA: Users will be able to send Closing Agent as the source type in Purchase Credit by selecting ‘Other’ and adding the description ‘ClosingAgent’. The Closing Agent will be displayed in the LPA portal
Updated response messages. (DQC0582 & DQC0587)
MINOR FEATURES
MCR: Add loans with negative Net Loan Revenue to discrepancies. (HOT-22129)
MCR: Adding loans with negative Net Loan Revenue to discrepancies section. These loans will also be considered for calculation and in Export as well.