Product Release 2022
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      1. KNOWLEDGE BASE
      2. Product Release
      3. Product Release 2022

      Product Release 2022

      Thank you for using LendingPad! Here are the highlights of all recent system updates in 2022.

      December 2022

      • Business Days: System admins can now set the compliance section and include Saturday as a business day. Check out our knowledge base article for a step-by-step guide: How to set the Compliance section? (lendingpad.com).
      • Tasks: Users can now filter tasks by the date of creation. 
      • Business Rules Additions: Below is the additional fields added to enhance business rules:
        • Set values for:
          • AUS Recommendation
          • Manual Underwriting
          • Lien Position Type
        • Validate the following:
          • AUS Recommendation
          • Manual Underwriting
          • Lien Position Type
          • Lender Loan Number
          • Race (All Borrowers)
          • Total REO Financed Investment Count
          • Total REO Financed Primary Residence Count
          • Total REO Financed Second Home Count
      • Work Number Verification: Equifax will now return all information, such as active record(s), prior record(s), or both statuses on the TWN database within a 36-month history.
      • Loan limits: 2023 county limits for Conventional loans and FHA loan limits have been updated.
      • Construction to Perm Feature: Construction Loan Purpose Type, Construction Period (Months), and Construction Period Rate are now supported in the Additional tab. Check out our knowledge base article: How to enter renovation or construction loans in LendingPad.
      • CTC and Suspend Notifications: Users will now see their CTC and Suspend PDF file auto upload to the documents folder. 

      November 2022

      • Business Rules Additions - Below are the additional fields added to enhance business rules:
        • Compliance Action Type: users can now run compliance reports automatically at any time in the process of the loan cycle based on detailed parameters.  It allows a company to automate compliance reports to be triggered at different points of production cycles or via a specific key data point change.
        • "Name Doesn't Contain" has been added to the operator selection. 
      • Buy Down Program - LendingPad allows the flexibility to create custom buydown programs. Check out our knowledge base article that will guide how to enter a Buydown: Buydown Programs in LendingPad l KB Article.
      • "Doing Business As" (DBA) - DBA feature allows a company the flexibility to market itself by a different DBA name via branch, team, product, or other factors available within the business rules section.  Please get in touch with support if you need help creating business rules to setup DBA's.  Check out our knowledge base article: DBA in LendingPad l KB Article.

      October 2022

      • Business Rules Additions- Below are the additional fields added to enhance business rules:
        • Added filtration by action type on the workflow page
        • Borrowers' total gift amount
        • Borrowers' self-employment income(s) total
        • Borrowers' non-employment income(s) total
        • Non-subject REO income/loss
        • Cash from/to borrower
        • Borrowers' total months of employment on the job
        • Amount of Non-subject property debts to be paid off 
        • Cure total amount
        • Loan officer has a valid license
        • Need mortgage insurance detail
        • Originator type
        • Employer name 
        • Employer address (street, city, state, zip, county, and country) 
        • All disclosure fees
        • Demographics
        • Net rent
      • Reports- Users can create reports for loans statuses that do not contain any dates with the added option of "Does Not Have Value" drop down available in the filter tab. 

      August 2022


      • Compliance Ease: Now, users can run loan estimate (LE) & closing disclosure (CD) actions with no LE/CD dates. The system will now use the estimated closing date instead of inputting the closing date. Check out our KB article here.

      • Importing MISMO 3.4/3.2 to Merge Borrowers: users can merge borrowers from another 3.4/3.2 file into an existing loan file. Check out our KB article here.

      • Business Rules Additions: Below is additional fields added to enhance business rules:
        • Existing Servicing Rights Owned
        • Refinance
        • Loan Program ( High-Cost Section)
        • Manufactured Home Land Property Interest Type
        • CD/ LE Delivery Method
        • Recorded DOT Date
        • Final Title Policy Date
        • Employment Documentation Type
        • Income Documentation Type
        • Asset Documentation Type
        • Buyout Fee Toggle
        • Include Compensation in Loan Origination Fee
        • Counseling ( Complete Date, Format Type, Provider Type)
        • Exclude from HMDA Report
        • Non-QM Mortgage Toggle
        • Presumption of Compliance 
        • Gross Rent
        • Cure Amount
        • Manufactured Home Secured Property Type