Help with Point: ULDD missing fields

January 10, 2013
BJ Bounds

BJ Bounds

If you are submitting your ULDD files to Freddie Mac, you may have received evaluation errors for missing fields.

This is because some of the fields required by Freddie Mac are not in Point.  Those fields must be completed manually in the Selling System’s website before the loans are sold to Freddie Mac.

If you have received the evaluations error message, chances are you are missing one or more of the fields listed below that are not found in Point.

Fields

  • Collateral Properties Financed Unit Count
  • Party Role Identifier

Project Design Type dropdown list

  • “Other” is not available as a dropdown list item
  • “Other Description” is not available for a description

Property Valuation Method dropdown list

  • “Other” is not available as a dropdown list item
  • “Other Description” is not available for a description.

AVM Model Name Type dropdown list

  • “Other” is not available as a dropdown list item
  • “Other Description” is not available for a description.

Values that do not export

  • Home Equity Combined LTV Ratio Percent (HCLTV)
  • Loan Role Type

Calculations

  • Combined LTV: expected to round to the nearest whole number but Point does not round the Combined LTV ratio when exporting the file to Freddie Mac ULDD
  • Base LTV Ratio: expected to round to the nearest whole number but Point does not round the LTV ratio when exporting the file to Freddie Mac ULDD.

Character limitations

  • Project Name field in Point is limited to 24 characters but the Freddie Mac Selling System allows for more than 24 characters.

If you have any questions about the fields in the ULDD , you can get more details in our Knowledge Base article.

Leave a Comment » | Compliance, Product Info & Tips | Tagged: , , , , , | Permalink
Posted by BJ Bounds

Help with Point: ULDD

December 5, 2012
BJ Bounds

BJ Bounds

Today’s post is about a specific field that you need for ULDD reporting.  We’ve received numerous questions about it and we’ve discovered it’s a simple answer and one that we thought everybody needed to know.

Point currently has a field called “Note Pay To” which is Field ID #641.2.This is the field that the ULDD pulls from.  There is also a field for the actual funder (641.1) that is not used for the ULDD report.

So you do have the ability to enter and track both the Payee and the Funder if they are different.  However, Fannie Mae does not request, nor require, both.

According to Fannie Mae, “the entity that is listed o the mortgage note (641.2), even if it conflicts with the actual funder of the loan, should be submitted at delivery.”   The “Note Pay To” is the field Fannie Mae is looking for in their “Mortgage Funder” requirement.

If you have any other questions about the ULDD, you can visit our Knowledge Base for detailed articles and instructions, or call our helpful tech support team at 800-342-2599.

Leave a Comment » | Product Info & Tips | Tagged: , , , , , , | Permalink
Posted by BJ Bounds

Help with Point: ULDD

August 29, 2012

BJ Bounds

We’ve talked before about how surprised we are to find that other LOS companies actually charge users for ULDD functionality.  We certainly do not charge extra for features in our software that you need for compliance.  We also don’t limit the number of users that can call in for support.  We believe that if you need help, we’re here to provide it.

But most of you already know that, or you wouldn’t be reading this blog.

Our goal is to provide you with the software you need to get your job done right and support you in any way we can to help you.

We also know that there will be times you need help and we’re not open to give you the personalized service you might hope for.  For times like those, we keep the Knowledge Base open and updated 24 hours a day.

We have an entire section of our Knowledge Base devoted to issues related to ULDD.  You will find that many of the messages you receive point to just one small piece of missing information that you can easily find and correct.

If you can’t find your particular message on the Knowledge Base, you can send an email to our support team at support@calyxsoftware.com at your convenience or call them at 800-342-2599 during business hours.

Leave a Comment » | Product Info & Tips | Tagged: , , , , , , , | Permalink
Posted by BJ Bounds

Charge for ULDD? No Way!

April 26, 2012

BJ Bounds

Wow.  We’ve heard that some LOS’s are charging extra for ULDD!

Here at Calyx we just can’t understand that. With Point, all the ULDD functionality you need is included at no extra charge.  We’ve got you covered with ULDD and we’re not going to make you pay for it.

ULDD functionality was added with Point 7.5. The Fannie and Freddie ULDD export included additional fields in the ULDD XML file with the launch of Point 7.6 last week.

If you want more details on what you can do in Point with ULDD, visit the “The Low-down on ULDD” blog or check out our Knowledge Base.

Leave a Comment » | Compliance, Product Info & Tips | Tagged: , , , , , , , , | Permalink
Posted by BJ Bounds

Point® and PointCentral® 7.6 Now Available!

April 19, 2012

BJ Bounds

MyCalyx® admins:  You can update your software now!  Point 7.6 is now an option in your version drop down list.

We recommend you push this version to your users as soon as possible. 

PointCentral admins make sure you update your PointCentral server first.  If you are using SQL 2000, you must upgrade to a newer version before installing 7.6.

We didn’t change the look of your screens but you’re going to find numerous upgrades in functionality for screens and reporting as well as improved integration with vendor interfaces.

Here are just a few of the updates you’ll see for Point:

  • The ability to generate LEF file reports for RegulatorConnect
  • Additional exportable fields for Fannie and Freddie ULDD files
  • Improvements made to the Interfaces feature for ordering closing docs
  • Enhanced UCDP portal for exporting XML appraisal files straight to Fannie Mae and Freddie Mac
  • Several updated tax forms for adherence to current IRS versions
  • Auto-forms update feature

 The May 10th release of WebCaster will power these new features in Point 7.6:

  • eDisclosures from the document management system through WebCaster borrower accounts
  • The ability to post required documents from your Track Status screen into a borrower’s WebCaster account and also retrieve and store uploaded documents

 If you’re using PointCentral, you’ll be happy to see that 7.6 offers stronger security and more options for ensuring compliance through business rules:

  • Enhanced business management tools that give access to another user’s loan files and limit loan file operations for specific user or users groups
  • Improved password management
  • Additional field comparisons and a new “contains” rule for filtering in business rules
  • 7.6 offers triple the number of additional fields for reporting

Download Point and PointCentral 7.6 through MyCalyx or call your account rep today at 800-362-2599 if you need to update your Calyx account.

Leave a Comment » | Product Updates | Tagged: , , , , , , | Permalink
Posted by BJ Bounds

Point and PointCentral 7.6 Coming Soon!

April 2, 2012

BJ Bounds

On April 19th, we are launching our latest Point and PointCentral releases.  Version 7.6 has a little something for everyone so you don’t want to miss it.

Point functionality has been improved and we have upgraded our vendor interfaces.  Here are just a few of the changes you’ll see:

  • The ability to generate LEF file reports for RegulatorConnect
  • Additional exportable fields for Fannie and Freddie ULDD files
  • Improvements made to the Interfaces feature for ordering closing docs
  • Enhanced UCDP portal for exporting XML appraisal files straight to Fannie Mae and Freddie Mac
  • Several updated tax forms for adherence to current IRS versions
  • Auto-forms update that enables federally mandated text/layout changes to be pushed automatically to existing forms quickly and easily to your system without the need for a downloadable service pack.

 Additionally, coming with the May 10th release of WebCaster, Point will offer:

  • eDisclosures from the document management system through WebCaster borrower accounts
  • The ability to post required documents from your Track Status screen into a borrower’s WebCaster account and also retrieve and store uploaded documents

 PointCentral offers greater security and more options for ensuring compliance through business rules:

  • Enhanced business management tools that give access to another user’s loan files and limit loan file operations for specific user or users groups
  • Improved password management for stronger system security
  • Additional field comparisons and a new “contains” rule for filtering in business rules
  • 7.6 offers triple the number of useable fields for reporting

Call your account rep today at 800-362-2599 if you need to update your Calyx account and look for the Point 7.6  option in MyCalyx.com on April 19th.

Click here for additional details on Point and PointCentral 7.6

6 Comments | Product Updates | Tagged: , , , , , , , , , | Permalink
Posted by BJ Bounds

Help with Point: ULDD and Freddie Mac

March 21, 2012

BJ Bounds

If you’ve encountered the message “Invalid content was found starting with element ‘ESCROW_ITEM_DETAIL’” when exporting a loan file to Freddie Mac’s ULDD site, you’re not alone.

The issue is with Point’s treatment of escrows during export.  Currently the escrows do not meet the parameters for ULDD.  But there is good news and good news about this.

The good news is that Point 7.6, currently slated for an April release, provides an effortless resolution to this issue.

The other good news is that there is something you can do until then to get your files to Freddie Mac. Here’s what you do:

  1. Remove the escrow amounts from the loan file
  2. Resubmit the file to Freddie Mac’s ULDD site
  3. Re-enter the escrow amounts in the Point file

For step-by-step instructions on getting the amounts back into Point, visit Knowledge Base article # 0773.

You can also find answers for many of your Point questions on the Knowledge Base with a quick search or if your account is current, you may call our Support Team at 800-342-2599.

Leave a Comment » | Product Info & Tips | Tagged: , , , , , , , , | Permalink
Posted by BJ Bounds

The Low-down on ULDD

December 1, 2011

BJ Bounds

It’s not a new federal compliance requirement, but the deadline for compliance is today.  I’m talking of course about the ULDD.  There has been a lot of buzz about it lately but there are still quite a few of out there that are still in the dark as to exactly what it is and what Calyx is doing to ensure compliance.

ULDD, or Uniform Loan Delivery Dataset, is a Fannie Mae and Freddie Mac mandate for companies who sell directly to them.  If you don’t sell to them, but are a correspondent, you’ll most likely still need ULDD to deliver to your investor on all loans delivered on or after March 19, 2012 with application dates after December 1, 2011.

So what exactly is it?  ULDD is a file format that uses an electronic data exchange standard format called MISMO 3.0 XML.  With this standardized set of field deliverables, overall loan quality on loans going to Fannie and Freddie are expected to improve.  Although both Fannie and Freddie derive their formats from the standard MISMO 3.0 format, Fannie’s field definitions are tweaked for their requirements, so ULDD has two flavors – one for Fannie and one for Freddie, but both require many of the same data points to be delivered in this format.

The new delivery standard contains 696 fields (data points) which depending on the loan conditions, may be required to be used for delivery.  In Point, we are delivering over 200 of these fields.  Since Point does not capture trade data or provide fields for helping you to service your loans, fields that are specifically for loans involved in trades and loan modifications are not included in Point.

What does that mean to you?  Well, it means that your Point loan files must be updated to capture the appropriate data.  Many of the ULDD fields are ones that you already fill out—loan application data that fill out a standard Fannie 3.2 file format, and HMDA data, so there is no need to panic.  Many of the additional fields are based on loan delivery information, and those additional fields are found on the Banking Shipping screen

If you are delivering loans to an investor and are not sure of their final destination, Point 7.5 offers a “combined” ULDD file that allows each investor to parse out the data they need for either Fannie or Freddie.  It’s a very convenient way to “cover all your bases.”

We offered the BETA version of Point 7.5 on November 15th to all current accounts so that you had time to prepare your first ULDD report.  The full version of Point 7.5 is available today  so that all of your users can benefit from the new and improved features of Point.

If you have any questions about Point 7.5 or ULDD, you can view the Release Notes or call our support team at 800-342-2599.

If your account is no longer current and you need to update your software, please call your account representative at 800-362-2599.

1 Comment | Compliance, Product Updates | Tagged: , , , , , , , | Permalink
Posted by BJ Bounds

Point 7.5 BETA Now Available

November 16, 2011

BJ Bounds

Point 7.5 is currently scheduled for full release on December 1.  However, because of the ULDD reporting deadline, we have made a BETA version of Point 7.5 available now.

MyCalyx Administrators will see a BETA version available on the version list in MyCalyx.  We recommend you only download the BETA on a few machines to test the new ULDD functionality and become familiar with it prior to the full release.

The ULDD functionality has been fully tested and is ready for you to use in time for the December 1 reporting deadline.  Other components of Point 7.5 are still being tested and will be available on the scheduled December 1 release date.

If you have any questions, please contact our technical support team at 800-342-2599.  If you need to update your software, contact your account representative at 800-362-2599 to make sure you don’t miss the ULDD deadline.

Leave a Comment » | Compliance, Product Updates | Tagged: , , , , , , | Permalink
Posted by BJ Bounds

Follow

Get every new post delivered to your Inbox.

Join 43 other followers