We are excited to announce the latest update to our mortgage POS system, which includes new features and improvements that will benefit our clients. Here are the highlights:
Ability to Retain or Clear CFPB Date (TRID Rule)
We have enhanced the options available to loan officers regarding retaining or clearing the Consumer Financial Protection Bureau (CFPB) data when importing or duplicating loan applications. This feature aims to prevent potential compliance issues and guarantee accurate reporting to regulatory agencies, particularly in instances where the loan application does not contain all six Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosure (TRID) data points. (FDT-624)
Control Government Monitoring Questions for Loan Application
In accordance with the Home Mortgage Disclosure Act (HMDA), we have incorporated a new configuration that enables lenders to decide whether or not to request HMDA-related information on loan applications. This feature includes three modes:
- Enable HMDA questions for all loan programs
- Disable HMDA questions for all loan programs
- Dynamic mode, which provides HMDA questions for all loan programs except the home equity line of credit (HELOC).
Simply select the mode that aligns with your lending business requirements and contact your BeSmartee customer service specialist to implement the chosen setting. (FDT-605)
Snapshot of an HMDA question
New Filter for Loans API
We have made updates to our get-list-loans API endpoints to provide enhanced filtering capabilities. The /get-list-loans API endpoints, available to both lenders and partners, now offers the option to filter loans that are intended or have been submitted to a particular wholesale lender. Lenders and partners can access all the updated information on the BeSmartee API documentation portal. (FDT-664)
https://api.besmartee.com/api/docs/overview
Configure Broker and Correspondent separately
We have simplified the process for lenders to configure the two roles, broker and correspondent, in separate ways. You can now customize each role to suit your lending business requirements and offer a more personalized experience to your partners. Kindly get in touch with your BeSmartee customer service specialist to establish the configuration that aligns with your business needs. (FDT-423)
We believe that these new features and improvements will improve the overall lending experience for our clients. If you have any questions or feedback, please do not hesitate to contact our support team.
