Ellie Mae is pleased to announce that Encompass® 18.3 has been released to your test environment as of Tuesday, July 3rd.
Encompass 18.3 will help you to stay ahead of the game with the final implementation of the Know Before You Owe 2 (KBYO2) rule changes to the initial RESPA-TILA Integrated Mortgage Disclosure Rules that are effective October 1, 2018.
Highlights of this Major Release:
New fee level Change of Circumstance management:
- Ability to document changes on an individual fee basis
- Enhanced logic for calculating baselines
Final round of KBYO2 rule changes including:
- Improved workflow for disclosing to Non-Borrowing Owners
- Support for tolerance cures using Principal Reduction