Product Release Notes

Transcription

1 Platform: Expedite Version: 11.3 Release Date: 05/05/2012 Summary: This release enhances the Electronic Closing Network (ecn) registration and document delivery processes to better identify roles and transaction processing information. These enhancements gather additional risk mitigation information prior to funds disbursement. Quality controls have been added to key data elements to enhance integrity. Additionally, several priority defects and customer requests have been implemented. What s New? ecn: Registration Improvements Standardize minimum information required to register All accounts must meet the standard requirements for network registration. At a minimum, each user will be required to enter data on the password, user information, contact information, parent company, and acknowledgement registration pages. Managed Vendor accounts or accounts designated as owned by the lender may not have to enter any information beyond the standard set. Important: All users currently registered in ecn will be required to review and validate their registration information the first time they log in after this release. Automatically detect lender accounts Lender owned accounts are managed by the lender and are granted administrative privileges. Accounts which have this designation are automatically detected based on the domain of the address used for the username. A new feature allows administrators to specifically tag an account as a lender owned entity. Additional information about lender accounts, such as line of business or employee ID, may be collected during registration at a lender s request. Adjust registration based on specific roles and workflows When registering on ecn to receive closing packages from lenders, users must identify what business functions their company performs for closing transactions. This information is then used to determine what other data must be collected during the registration process. The information collected during registration will be reused when closing packages are delivered to streamline the document pickup process. Note: Companies that issue title and disburse funds will be required to identify banking/account information, affiliated title underwriters, and specific agent identification. Note: Companies that disburse escrow funds will now be required to identify types of insurance, types of licenses, and banking/account information. 1 Page Last Updated: 04/24/12

2 Note: Companies that conduct sub-escrow services will now be required to identify types of insurance, escrow licenses, and banking/account information. Note: Companies that conduct document review will now be required to identify types of insurance and attorney license information. Note: Companies that conduct document signing will now be required to identify types of insurance and notary license information. Note: Users that cannot identify what roles their company fulfills will be asked to identify their reason for registering, and will not be able to pick up closing packages until a specific role or business function is identified for a transaction. Important: A short video is available online to describe the new registration process. Manage list of title underwriters When identifying an affiliation with a title underwriter, the user is allowed to select from a list that can be sorted by name or title family. A talking person icon next to an underwriter name indicates there is a comment about that underwriter. The comment can be viewed by clicking on the icon. Important: The list of title underwriters in the system is updated nightly based on data obtained from Demotech, Inc. Simplify identification of a title underwriter as a parent company A checkbox on the parent company page can be used to identify a title underwriter as the parent company for an account. ecn: Document Pickup Improvements Confirm company role for the closing transaction When a closing package is delivered, the recipient must identify the role their company is performing for that transaction. The business functions or roles the company documented during registration are presented to simplify selection. Additional data related to that transaction, such as an estimated closing date or the recording jurisdiction, may be collected based on the selected role. Note: If a company is performing a role not identified during registration, they can still select that role at document pickup. The additional data required by that role will then be collected and their profile updated. Important: A short video is available online to describe the new document pickup process. Qualify choice of title underwriters Companies that issue title policies must identify what title underwriter they are using for the closing transaction. The list of title underwriters presented to the user is limited to those identified during registration who, and are approved for use by the lender managing the loan. 2 Page Last Updated: 04/24/12

3 Automatically obtain title verification If a company is issuing title for a transaction, their standing with the selected title underwriter may be automatically verified in real-time. If the title underwriter responds positively, the verification results are stored in the system and the user is notified. If a response is negative or not received in the allotted timeframe, access to the closing documents may be blocked pending a lender decision. Note: If access to a closing package is denied for any reason, the user will be provided with the reason and instructions for resolving the situation. ecn: Data Quality Improvements Standardize business addresses for registered users The system now requires users to enter a street address for their company that identifies the physical location. The street address is validated against USPS standards to ensure accuracy and consistency. An alternate mailing address can also be documented during registration. Important: Because it may be used as part of the identifying information during TU verification, street addresses cannot contain a PO Box. Note: Users can override the suggested street address provided by the USPS. If they do this, the reason they are not using the standardized address will have to be recorded. Validate closing dates Specific rules will be applied to the estimated closing date entered by document recipients to ensure validity. Provide list of recording jurisdictions Users can now select from a list of jurisdictions to identify where the loan documents will be recorded. Note: The list first provided is based on the state identified in the property address. If the state is not included or needs to be changed, users can identify the state for the recording jurisdiction by entering it in the field titled recording state. ecn: User Experience Improvements Update login screen for administrative users The login screen for administrative users was updated to improve consistency and to include lender specific look and feel. Consolidate access to account profile The Account and Edit links on the right of the header bar have been consolidated into one dropdown that provides access to all profile and account update functions. 3 Page Last Updated: 04/24/12

4 Provide clarity for selecting all documents When recipients are viewing the contents of a package, each document is listed in the bottom left panel. A Select All checkbox is included that provides a shortcut for selecting all documents for viewing or printing. This selection was previously called Documents. Adjust display of package and document dates When documents are sent individually, the data and time they were sent is now listed next to each in the bottom left panel of the recipient display. When documents are grouped and sent as a package, the date and time they were sent is listed next to the package name. This simplifies the information presented to recipients and makes it easier to find the most recent documents. ecn: Admin Console New Features Create administrative users report A new report is available that identifies all administrative users and their associated privileges. Electronic Signature (usign) Enhancements Watermark PDF documents All pages in PDF documents can now be watermarked prior to delivery. Configuration Feature Standardize minimum information required to register Automatically detect lender accounts Automatically available to all users. No setup required. Not automatically available and requires some setup. Contact elynx sales to enable this feature. Adjust registration based on specific roles and workflows Manage list of title underwriters Simplify identification of a title underwriter as a parent company Confirm company role for the closing transaction Qualify choice of title underwriters Automatically obtain title verification Standardize business addresses for registered users 4 Page Last Updated: 04/24/12

5 Validate closing dates Provide list of recording jurisdictions Update login screen for administrative users Consolidate access to account profile Provide clarity for selecting all documents Adjust display of package and document dates Create administrative users report Watermark PDF documents Known Issues There are no known issues with the release. Other Resources & Links Additional documentation and a list of FAQs on our products are available online. This information will answer many of your initial questions about the product. While elynx products and services are simple to use, we understand that questions or issues do arise from time to time. For questions or issues on new product features, please contact our Professional Services organization. PS@elynx.com To purchase new products or features, our sales team is always available to assist you. Phone: sales@elynx.com For more information or technical support, please visit our website or contact us. Phone: support@elynx.com 5 Page Last Updated: 04/24/12