The Alerts & Messages tab displays the active alerts and unread messages for a loan. This can also be seen from the Pipeline view.
Alerts notify you that an event has occurred, is pending, or is due.
Compliance alerts notify you when a violation of RESPA, Mortgage Disclosure Improvement Act (MDIA), or RESPA-TILA regulations has occurred or when an action is required to stay compliant with these regulations.
Message entries inform you when requested documents have been returned via fax from a borrower.
When you clear an alert or read a message, the entry is removed from both your Pipeline and the Alerts & Messages tab.
The Alerts & Messages tab can be found in the upper section of the left panel of the loan workspace. If the Alerts & Messages panel isnāt open, it can be opened by clicking on the tab at the top of the panel.
To view details of the alerts associated with a loan, click the Alert icon on your Pipeline. The alert remains in effect until the required action is taken.
Milestone Expected alerts notify users of pending milestones. These alerts display on the Pipeline, Log, and the top of the milestone worksheet (the top of the worksheet displays in red). When you record the achievement of a milestone on the milestone worksheet or update the Days to Finish field, the corresponding entry in the Log reflects the completion or update. The completion date is used to calculate the expected completion of future milestones.
Milestone Finished alerts are triggered when a milestone is completed, notifying the loan team member responsible for completing the next milestone that the milestone has been completed. These alerts display on the Pipeline, Log, and the top of the milestone worksheet (the top of the worksheet displays in red). The alert is cleared when the loan team member clicks the Accept File (Clear Alert) button on the milestone worksheet.
Document alerts notify users of the status of ordered and received documents. When you begin managing a document you can change the default dates if needed.
Document alerts display on the Pipeline and the Log. In the Log, an entry is created showing the expected receipt date. This entry changes to red text if the document becomes past due. If a received document expires, a new entry replaces the expected receipt date in the Log.
eFolder Update alerts notify specific loan team members about updates made to documents or conditions. When managing a document in the Document Details window or a condition in the Condition Details window, loan team members can add comments (in the Tracking section) related to the document or condition. When adding a comment, they can also send an eFolder Update alert to the loan officer, loan processor, or closer assigned to the loan file to notify them of the update. eFolder Update alerts display in the Pipeline and on the Alerts & Messages tab in the Log for the selected loan team member. Clear these alerts by opening the document or condition related to the alert, click the Comments tab located in the Tracking section of the Document Details or Condition Details window, and then click to view the comment entered by the loan team member who sent the alert.
Conversation Log alerts notify loan team members of required follow-up actions. These alerts are based on information entered in the Follow Up section on the Conversation Log worksheet.
Conversation Log alerts display on the Pipeline, Log, and the top of the Conversation Log list for the selected loan team members. In the Log, the follow-up entry (with red text) is created when the Conversation Log entry is created.
Task alerts notify the loan team member of required expected and follow-up actions. These alerts are based on information entered in the Status and Follow Up sections on the Task worksheet. The alert entry displays in the Log for the selected loan team member as appropriate. When the follow-up date is reached, the entry changes to red text and the alert also displays on the Pipeline. Clear the alert by selecting a Followed up on date or by updating the to follow up on date.
These alerts are generated when a preliminary condition is pending. Preliminary Condition alerts are based on information entered in the Tracking section of the Preliminary Condition Details window (specifically, the Days to Receive field in the eFolder). The alerts display on the Pipeline, Log, and the top of the milestone worksheet with which the condition is associated (the top of the worksheet displays in red).
These alerts are generated when an underwriting condition is pending. Underwriting Condition alerts are based on information entered in the Tracking section of the Underwriting Condition Details window (specifically, the Days to Receive field in the eFolder). The alerts display on the Pipeline, Log, and the top of the milestone worksheet with which the condition is associated (the top of the worksheet displays in red).
These alerts are created when a post-closing condition is pending. Post Closing Condition alerts are based on information entered in the Tracking section of the Post-Closing Condition Details window (specifically, the Days to Receive field in the eFolder). The alerts display on the Pipeline, Log, and the top of the milestone worksheet with which the condition is associated (the top of the worksheet displays in red).
Registration Expiration alerts notify loan team members of the expiration of a loan that was registered with an investor (Field ID 2824). Registration Expiration alerts display on the Pipeline and the Log.
Rate Lock Request alerts are created using the Lock Request tool. When a loan officer submits a lock request for an unlocked loan to the lock desk, a Lock Request icon is displayed on the Pipeline. When the loan rate is locked and the loan officer is notified, the Lock Request icon is replaced by a blue Lock icon.
When a loan officer submits a lock request for a loan that is already locked, a Locked Loan Lock Request icon displays on the Pipeline. The alerts also display on the Log and in the header above the work area in the loan file. Click the Lock icon to view additional details.
Rate Lock Confirmation alerts are created when a loan rate is locked by the lock desk, and confirmation is sent to the requester (typically the loan officer). The Lock Request icon is replaced by a blue Lock icon. The alert displays on the Pipeline, Log, and in the header above the work area in the loan file.
Rate Lock Request Denied alerts are created when a rate lock request is denied by the lock desk. When a request is denied, the Buy Side and Sell Side components of the request are cleared and the Lock Request icon is removed. The alert displays on the Pipeline and the Log.
Rate Lock Expiration alerts notify loan team members of the expiration of a rate lock. The alert is created when the date in the Lock Expires field on the Borrower Summary form is met. At this point, the blue Lock icon changes to red, and the number of days remaining (if any) displays beneath the icon. Rate Lock Expiration alerts display on the Pipeline, Log, and in the header above the work area in the loan file. You can clear this alert by updating the Lock Expires date.
Rate Lock Extension Request alerts are generated using the Lock Request tool. When a loan officer submits a request to extend a rate lock, a Lock Extension Request icon displays on the Pipeline.
NOTE: When a lock is extended and then re-locked, a different icon displays on the Pipeline to distinguish between a pending new lock request on extended loans and a pending lock extension request.
When the loan rate is locked and the loan officer is notified, the Lock Extension Request icon is replaced by a blue Lock icon. The alerts also display on the Log and in the header above the work area in the loan file.
Rate Lock alerts are generated using the Lock Request Tool. When a loan officer submits a request to cancel a lock, a Lock Cancellation Request alert displays on the Log.
Rate Lock Cancelled alerts are generated using the Secondary Registration tool. When the lock desk cancels a lock, a Lock Cancellation icon displays on the Pipeline. The alert also displays on the Log and in the header above the work area in the loan file.
Payment Past Due alerts notify loan team members that an interim servicing payment is past due. The alerts displays on the Pipeline and the Interim Servicing Worksheet.
These alerts notify loan team members of the requirement to send a mortgage statement to the borrower (based on the printing/mailing due date on the Servicing screen on the Settings window). The alerts display on the Pipeline and the Interim Servicing Worksheet.
These alerts are created when an escrow disbursement is pending or due. The alert displays on the Pipeline and the Interim Servicing Worksheet.
These alerts are created when the values in the Purchase Advice Formās Amount Paid and Amount Due fields are not equal. The alerts display on the Purchase Advice Form and on the Pipeline.
Shipping Due alerts notify loan team members of a pending or past due investor delivery date (Field ID 2012 on the Shipping Detail form). The alerts display on the Pipeline and the Shipping Detail.
Compliance Review alerts notify loan team members when a compliance review report has been ordered for a loan and includes the results of the review, Pass or Did Not Pass. The alerts display on the Pipeline and on the Alerts & Messages tab and the Log tab in the Loan Log. Click the alert on the Alerts & Messages tab to view the compliance review report. Click the alert on the Log tab to open the report using the eFolder where you can view and modify the report and report details.
When a loan is removed from a correspondent trade, a confirmation entry is added to the Loan Log along with a Rate Lock Removed from Correspondent Trade alert on the Alerts & Messages tab in the Log. The Log entry provides the date and time of the request and completion, and basic loan information. To view alert details, click the alert on the Log's Alerts & Messages tab. To clear the alert after viewing alert details, click the Clear Alert button in the upper-right of the alert screen.
Since the LIBOR index will no longer be supported in GSE pools after 10/1/2020 (due to the transition to the SOFR index announced by the FHFA on February 5, 2020), this informational alert is triggered for loans with an application date (field ID 745 and 3142) after 9/30/2020 that use any LIBOR for the ARM Index Type (field ID 1959). This alert is intended to notify loan team members for loans that will not be eligible for purchase by the GSEs. Since this alert is informational only, loan team members can still proceed with the loan. The alert displays on the Alerts & Messages tab in the Log only.
Using the Key Pricing Fields alert, the administrator can create a list of key pricing fields and then set up the alert to trigger any time a loan is saved and the value in one of these fields has been updated since the loanās rate was locked. By default, the key pricing fields are: Total Loan Amount (field ID 2), Subject Property Estimated Value (field ID 1821), Subject Property Appraised Value (field ID 356), Subject Property State (field ID 14), Subject Property County (field ID 13), Credit Score for Decision Making (VASUMM.X23), Loan Term (field ID 4), Amortization Type (field ID 608), Loan Purpose (field ID 19), Loan Type (field ID 1172). These alerts display on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan. To view alert details, click the alert in the Log. If the alert triggers, it will be automatically cleared the next time a lock confirmation occurs.
In accordance with MDIA provisions, Redisclose REGZ-TIL alerts are generated when there is a difference between the value in the Disclosed APR (Field ID 3121 on the REGZ-TIL and Closing REGZ forms) and the Current APR field (Field ID 799 on the REGZ-TIL and Closing REGZ forms) greater than .125% (for conventional loans; for ARM loans this alert is generated when the difference between the two APR values is greater than .25%). The alert notifies loan team members that the new APR should be disclosed to the borrower. The alert displays on the Pipeline, the Alerts & Messages tab in the Log, and both REGZ forms, as well as in a pop-up window when you save the loan.
To comply with MDIA provisions, a Closing Date Violation alert is generated when the loan's Estimated Closing Date (Field ID 763 on the Borrower Summary) precedes the loan's Earliest Closing Date (Field ID 3147 on the Disclosure Tracking tool). The alert displays on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan.
2010 RESPA-TILA - According to RESPA, the loan originator must provide the initial GFE and REGZ-TIL to the borrower within three days of receiving the loan application. The Send Initial Disclosure alerts are generated when all of the alert's trigger fields have been populated. By default, these fields include Borrower First Name (Field ID 4000), Subject Property Address (Field ID 11), Loan Amount (Field ID 1109), and other fields used to complete the loan application. View the Send Initial Disclosures alert in the Alerts settings tool for a full list of Field Triggers. These alerts display on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan. Initial disclosures must be sent no later than three business days after the alert has been generated. (Business days are determined by the Our Company Calendar settings.)
2015 RESPA-TILA - This alert operates with the Loan Estimate (LE) the same way in which the alert operates with the 2010 GFE form. According to RESPA-TILA, the loan originator must provide the initial LE to the borrower within three days of receiving the loan application. The Send Initial Disclosures alerts are generated when all of the alert's trigger fields have been populated. By default, these fields are: Borrower First Name (field ID 4000), Borrower Last Name (field ID 4002), Borrower SSN (field ID 65), Total Monthly Income (field ID 736), Subject Property Address (field IDs 11, 12, 14, 15), Subject Property Estimated Value (field ID 1821), and Loan Amount (field ID 1109). These alerts display on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan. Initial disclosures must be sent no later than three business days after the alert has been generated. (Business days are determined by the Our Company Calendar settings.) To clear this alert, the LE Sent Date (field ID 3152) must be populated. This field is populated automatically when the LE is initially disclosed.
Send Initial Disclosures Alert for Settlement Service Providers List ā In addition to the triggers for the 2015 RESPA-TILA alert discussed above, the Send Initial Disclosures Alert may be triggered if the Loan Estimate and the Settlement Services Provider List (SSPL) are required to be disclosed. The alert is cleared when the SSPL Sent Date (field ID 4014) is populated. This field is automatically populated when the SSPL is disclosed and a tracking entry is included in the Disclosure Tracking toolās Disclosure History table.
This alert is intended to notify you when you have not yet received consent to receive electronic disclosures from all applicable parties. This helps ensure you receive eSigning consent before sending the disclosures electronically. View the eSign consent status by clicking the Lookup icon (magnifying glass) for the eSign Consent field on the Disclosure Tracking Tool.
These alerts display on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan. If the eSign Consent Status for any borrower / co-borrower on the loan is not indicated as Accepted this alert is triggered. This alert is triggered at the same time as the Send Initial Disclosures alert. To clear the alert, the eSign Consent status must be set to Accepted for all borrowers and co-borrowers on the loan.
RESPA states that if a borrower does not express intent to continue with an application within 10 days of receiving the GFE, the loan originator is no longer bound by the GFE. The GFE Expires alert notifies you that the GFE Expiration Date (Field ID 3140 on the 2010 GFE) is near and the loan's rate has not been locked. The days before the expiration date value set up in the Alert Settings determines exactly when the alert displays. The GFE Expiration Date must be a minimum of 10 days from the Initial GFE Sent Date (Field ID 3148 on the Disclosure Tracking tool. (Days are determined by the Our Company Calendar settings.) The alert displays in the Pipeline, the Alerts & Messages tab in the Log, and the 2010 GFE (the top of the page displays in red), as well as in a pop-up window when you save the loan.
The Loan Estimate Expires alert notifies you that the Closing Cost Estimate Expiration Date (field ID LE1.X28 on the LE Page 1) is near and the Intent to Proceed check box (field ID 3164) has not been selected on the Loan Estimate Page 1. The days before the expiration date value set up in the Alerts settings determines exactly when the alert displays. The LEās expiration date must be a minimum of 10 days from the LE Sent Date (Field ID 3152 on the Disclosure Tracking tool). When the alert is generated, the Encompass user receives an alert with the following message:
The Loan Estimate has expired because the Intent to Proceed was not received within 10 business days from the LE Issued Date.
These alerts display on the Pipeline and the Alerts & Messages tab in the Log, as well as in a pop-up window when you save the loan. Clear the alert by selecting the Intent to Proceed check box on the Loan Estimate Page 1.
Under RESPA regulations, if a rate lock changes after the initial GFE is provided, a revised GFE must be sent to the borrower within three days of the changes. These Redisclose GFE alerts are generated when the Rate Locked Date (Field ID 761) is later than the Last Sent Date (Field ID 3137) on the 2010 GFE. In other words, the rate was locked after the 2010 GFE was initially disclosed. The alert displays on the Pipeline, Log, and 2010 GFE (the top of the page displays in red), as well as in a pop-up window when you save the loan. (Days are determined by the U.S. Postal Calendar settings.)
Under RESPA regulations, if circumstances have changed since the initial GFE was provided, a revised GFE must be sent to the borrower within three days of the changes. These Redisclose GFE alerts are generated when the Changed Circumstance check box (Field ID 3168) is selected on the 2010 GFE. The Changes Received Date field (Field ID 3165 on the 2010 GFE) is populated with the current date. The alert displays on the Pipeline, the Alerts & Messages tab in the Log, and 2010 GFE (the top of the page displays in red), as well as in a popup window when you save the loan. (Days are determined by the U.S. Postal Calendar settings.)
Under RESPA-TILA regulations, if circumstances have changed since the initial Loan Estimate was provided, a revised Loan Estimate must be sent to the borrower no more than three business days after the changed circumstance is received. The alert is triggered when the Changed Circumstance check box (field ID 3168) on the Loan Estimate Page 1 is selected and the current date is populated to the Changes Received Date (field ID 3165) on the Loan Estimate Page 1. By default, the alert is triggered three days before the Redisclose Due Date (field ID 3167). The alert displays on the Pipeline, the Alerts & Messages tab in the Log, and in a pop-up window when you save the loan.
To comply with RESPA tolerance regulations, these alerts are generated when there is a discrepancy between any of the GFE and HUD-1 values in the Charges that Cannot Increase section of the 2010 HUD-1 Page 3 form OR when the total of the Increase between GFE and HUD-1 Charges (Field ID NEWHUD.X315) on the 2010 HUD-1 Page 3 form is more than 10%. The alerts display on the Pipeline, the Alerts & Messages tab in the Log, and at the top of the 2010 HUD-1 Page 3 page (the top of the page displays in red).
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when the Ability-to-Repay Loan Type (field ID QM.X23) has not been indicated on the ATR/QM Management form. (By default, this alert is triggered at the completion of the Approved milestone.) The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB taking effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when the Qualified Mortgage Loan Type (field ID QM.X24) has not been indicated on the ATR/QM Management form. (By default, this alert is triggered at the completion of the Approved milestone.) The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014, that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when the Is Loan Eligible for Safe Harbor? field (field ID QM.X25) has not been populated on the ATR/QM Management form. (By default, this alert is triggered at the completion of the Approved milestone.) The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when the Ability-to-Repay Loan Type (field ID QM.X23) is Qualified Mortgage, but it is not eligible for Safe Harbor (field ID QM.X23) OR the Ability-to- Repay Loan Type is General ATR. This alert recommends a residual income assessment. As the CFPB has not issued official guidelines or requirements for residual income, this alert is a recommendation only and does need to be addressed or cleared in order for the loan to qualify as a qualified mortgage. (By default, this alert is triggered at the completion of the Approved milestone.) The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when the loan's Debt-to-Income (DTI) ratio (field ID QM.X119) exceeds the limit for a General Qualified Mortgage. CFPB states DTI must be less than or equal to 43% to meet General QM standard. The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when loan repayment data does not meet the standards for a General Qualified Mortgage. The data entered in the Interest Only (field ID 2982), Prepayment Penalty Period (field ID RE88395.X316), Prepayment Penalty (field ID QM.X112), and The result of Points & Fees Test does not exceed the threshold for Qualified Mortgages (field ID (QM.X124) fields on the ATR/QM Management form's Qualification tab and the Even if you make pmts on time, can your loan balance rise (field ID NEWHUD.X6) and Does your loan have a balloon payment (field ID 1659) fields on the Loan Estimate Page 1 can trigger this alert. The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, this alert is triggered when an ATR/QM Exemption Eligibility option has not been indicated at the bottom of the ATR/QM Management form's ATR/QM Eligibility tab. The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.
In accordance with the rule issued by the CFPB effective for applications on or after January 10, 2014 that prohibits lenders from making a loan without first considering and verifying a consumer's ability to repay the loan and establishes certain protections for creditors who make a āqualified mortgageā, these alerts are generated when the information in the loan file does not match the last set of values used by an Automated Underwriting System (AUS) to make an underwriting decision. The alerts display on the Pipeline and on the Alerts & Messages tab in the Log.