POS Release Notes

POS Release Notes - July 2022

Added a cash-out refinance question that allows borrowers to add cash out to their total loan amount in their refinance applications
- Updates total loan amount to include outstanding balance + cash out
- Updates loan purpose in LOS from Refi to Cash Out refi
Cleaned up Est. Loan Amount Calculation so that amount entered on the Loan Application updates the Est. Loan Amount on the loan file and lender dashboard
- Purchase Loan Amount = Est. Purchase Price - Downpayment
- Refinance Loan Amount = Outstanding balance + Cash Out (if applicable)
- Home Equity Loan Amount = Total Amount Requested in Equity
Released new SmartTasks for ELA applications so tasks for proof of insurance, P&L, retirement account statements, proof of resident status, and self-employment tax forms are automatically generated.
Added Income Type Dropdown to allow borrowers to account for different types of incomes like base salary, commissions, bonuses, etc.

Changed Income Type to Employment Type to better map to URLA language
Fixed some errors and bugs around QuickApply and added and added an auto-skip QuickApply if an applicant runs into 3 or more errors.

If a co-borrower is added to the info tab after the loan application was created, they are automatically added to the loan application and have a loan application task created for them.
Added the additional borrower information to the final review screen so borrowers can edit co-borrower information.

Fixed a bug so shared finances borrower pairs were being properly synced to Loan Origination Systems
Fixed a bug where borrowers who were skipping 2 Factor Authentication step were getting locked out of their account
Cleaned up the User Experience on co-borrower submission screens
Fixed unemployed question Mapping in MISMO so unemployed borrower files map properly to Loan Origination Systems