Feature Guide. Compliance mortgage. Financial Services. Choose a building block.

Transcription

1 Choose a building block. Sandy Kremer Sandy.Kremer@wolterskluwer.com Product Management Financial Services Financial Services Feature Guide Compliance mortgage

2 Financial Services Date January 18, 2018 Version File ComplianceOne mortgage Feature Guide Version Date Author/reviewer Explanation Sandy Kremer January 2018 Release Update Disclaimer The contents of this publication, including its appendices, exhibits, and other attachments, as updated or revised, are highly confidential and proprietary to Wolters Kluwer Financial Services, Inc. or its subsidiaries or affiliates ( Wolters Kluwer Financial Services ). This publication is distributed pursuant to a Non-Disclosure Agreement, Evaluation Agreement, License Agreement and/or other similar agreement(s) with Wolters Kluwer Financial Services, Inc. or its subsidiary or affiliate. Unless otherwise specifically provided in such agreement(s), the reproduction of this publication is strictly prohibited. Use and distribution of this publication are also subject to the responsibilities and obligations of such agreement(s), which require confidential treatment of this publication and its contents. Except only for the warranties (if any) expressly set forth in the agreement(s) under which this publication is provided (i.e., your agreement or license for the described product), this publication is provided as is, and Wolters Kluwer Financial Services makes no warranty, express, implied, by description, by sample or otherwise, and in particular and without limitation, makes no implied warranties of merchantability or fitness for purpose. No modifications to this Warranty Disclaimer are authorized unless in writing and signed by the President or a Vice President of the Wolters Kluwer Financial Services entity licensing the product described in this publication. This publication is intended to provide accurate and authoritative information about the subject matter covered based upon information available at the time of publication. Examples given in this publication are for illustrative purposes only. Development of this publication and the software (including forms, disclosures, reports, and other documents generated by the software) or other products that it describes was based on Wolters Kluwer Financial Services understanding of various laws, regulations and commentaries. Wolters Kluwer Financial Services cannot and does not guarantee that its understanding is correct. This publication is not intended, and should not be used, as a substitute for legal, accounting, or other professional advice. Wolters Kluwer Financial Services is not engaged in providing legal, accounting or other professional services. If legal or other professional assistance is required, you should seek the services of a competent professional. We encourage you to seek the advice of your own attorney concerning all legal issues involving the use of this publication and any products described in this publication. If your interpretations or your counsel s interpretations are contrary to those expressed in this publication, you should of course, follow your/your counsel s interpretations. The following notice is required by law: WOLTERS KLUWER FINANCIAL SERVICES S PRODUCTS AND SERVICES ARE NOT A SUBSTITUTE FOR THE ADVICE OF AN ATTORNEY. Copyright Unless otherwise specifically authorized in the agreement or license under which this publication has been provided, no part of this publication may be posted, played, transmitted, distributed, copied or reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or retaining on any information storage and retrieval system, without prior written permission from Wolters Kluwer Financial Services. Requests for permission to reproduce content should be directed to Wolters Kluwer Financial Services Corporate Legal Department, by telephone at Trademark Rights - ComplianceOne is a registered trademark of Wolters Kluwer Financial Services, Inc. All trademarks are the property of their respective owners Saukview Drive St. Cloud, MN Wolters Kluwer Financial Services, Inc ComplianceOne mortgage Feature Guide 2

3 Contents ComplianceOne mortgage Vision 4 1. ComplianceOne mortgage Supported Products 4 2. ComplianceOne mortgage Supported Features 6 3. ComplianceOne mortgage Prioritized Feature List ComplianceOne mortgage Unsupported Features ComplianceOne mortgage feature guide 3

4 ComplianceOne mortgage Vision ComplianceOne mortgage assists in the end-to-end management of your retail mortgage business and allows you to originate, document, and service consumer single-family real property dwellings, first or second lien and closed-end loans retained in portfolio or sold to the secondary market. You are able to sign on, initiate mortgage loan applications, manage workflow tasks, interface with Core systems and Business to Business workflow service providers, and fulfill loan document packages. 1. ComplianceOne mortgage Supported Products The following ComplianceOne mortgage In-House and Secondary Market Products are supported or planned for future support. Product & Index Investor Investor Note/Rider Product Description VMP BSI Reference for Production Use Target In-House Lending - Supported by Wolters Kluwer Financial Services Proprietary Content Product = Standard Fixed Rate Mortgage Product = Standard Adjustable Rate Mortgage Product = Texas Home Equity Single Family, 1st or 2 nd Lien, Closed-end Purchase Money Mortgage Single Family, 1st or 2 nd Lien, Closed-end Non-Purchase Money Mortgage Single Family, 1 st Lien, Closedend Refinance* Single Family, 1st Lien, Purchase Money, Construction Only Phase Mortgage Single Family, 1st Lien, Purchase Money, Construction/Perm Mortgage, single closing Single Family, 1st or 2 nd Lien, Closed-end Purchase Money Mortgage Single Family, 1st Lien, Closedend Refinance* Single Family, 1st Lien, Purchase Money, Construction/Perm Mortgage Single Family, 1st Lien, Purchase Money, Construction/Perm Mortgage Single Family, 1st Lien, Closedend Purchase Money Mortgage Single Family, 1st Lien, Closedend Refinance* Single Fixed Rate Across both Phases Const: Fixed Perm: Variable Phase 1 Variable; Phase 2 Variable ComplianceOne mortgage Feature Guide 4

5 Product & Index Investor Investor Note/Rider Product Description VMP BSI Reference for Production Use GSE [Fannie Mae/Freddie Mac] Conventional Conforming Lending - Supported by Wolters Kluwer Financial Services Non-Proprietary Content Product = Standard Fixed Rate Mortgage Fannie Mae 3200 Single Family, 1st Lien, Purchase Money Mortgage Fannie Mae 3200 Single Family, 1st Lien, Refinance* Mortgage Freddie Mac 3200 Single Family, 1st Lien, Purchase Money Mortgage Freddie Mac 3200 Single Family, 1st Lien, Refinance* Mortgage Product = Standard Fixed/Adjustable Rate Mortgage Index = 1 Year Treasury Bill (CMT) Index = 1 Year Wall Street Journal LIBOR Fannie Mae 3522/3182 Single Family, 1st Lien, Non- Convertible, (5/1, 7/1, 10/1 Adjust Type), 2% Cap, Assumable After Initial Period Fannie Mae 3528/3187 Single Family, 1st Lien, Non- Convertible, (5/1, 7/1, 10/1 Adjust Type), 2% Cap, Assumable After Initial Period Product = Standard Adjustable Rate Mortgage Index = 1 Year Treasury Bill (CMT) Index = 1 Year Wall Street Journal LIBOR Fannie Mae Freddie Mac 3502/3111 Single Family, 1st Lien, Non- Convertible, (1/1, 3/1 Adjust Type), 2% Cap, Assumable Life of Loan Freddie Mac 5510/5110 Single Family, 1st Lien, Non- Convertible, (5/1, 7/1, 10/1 Adjust Type), Open Cap, Assumable After Initial Period Fannie Mae 3526/3189 Single Family, 1st Lien, Non- Convertible, (1/1, 3/1 Adjust Type), 2% Cap, Assumable Life of Loan Freddie Mac 5531/5131 Single Family, 1st Lien, Non- Convertible, (5/1, 7/1, 10/1 Adjust Type), Open Cap, Assumable After Initial Period Product = Negotiated Texas Home Equity [Fixed, Fixed/Adjustable, ARM] Fannie Mae Fixed Rate Index = 1 Year Treasury Bill (CMT) Single Family, Texas Home Equity Fixed Rate, 1st Lien, Refinance* Mortgage Fannie Mae Single Family, Texas Home Equity, 1st Lien, Non- Convertible, (5/1, 10/1 Adjust), Rate Caps 5N 5N 5N 5N 843N 843R 168N 168R 822N 822R 834N 834R 166N 166R 856N 856R 8035T 8039T Target 2018 ComplianceOne mortgage feature guide 5

6 Product & Index Investor Investor Note/Rider USDA Section 502 Guaranteed Rural Home Loans Product = Standard Fixed Rate Mortgage Product Description USDA Single Family, 1st Lien, Purchase Money Mortgage Limited to support of Initial and Annual Fee Calculations not USDA specific documents VMP BSI Reference FHA/HUD Lending - Supported by Wolters Kluwer Financial Services Non-Proprietary Content for Production Use Target Product = Section 203(b) Standard Fixed Rate Mortgage FHA/HUD 203(b) Single Family, 1st Lien, Purchase Money Mortgage, fixed rate, monthly payments FHA/HUD 203(b) Single Family, 1st Lien, No Cash-Out Refinance* [Rate & Term or Simple] FHA/HUD 203(b) Single Family, 1 st Lien, Construction/Perm, single transaction Single Fixed or Variable Rate, I/O Construct Period [monthly payments], P&I Perm Period [monthly payments] Product = Section 203(k) Standard Fixed Rate Rehabilitation (Home Improvement) Mortgage FHA/HUD 203(k) Single Family, 1st Lien, monthly payments Product = Section 251 Standard Adjustable Rate Mortgage Index = 1 Year Treasury Bill (CMT) Index = 1 Year Wall Street Journal LIBOR FHA/HUD Single Family, 1st Lien, (1/1, 3/1, 5/1, 7/1, 10/1 Adjust Type), Open Cap, Non-Assumable FHA/HUD Single Family, 1st Lien, (1/1, 3/1, 5/1, 7/1, 10/1 Adjust Type), Open Cap, Non-Assumable 2. ComplianceOne mortgage Supported Features 1R L The following ComplianceOne mortgage transaction features are supported or planned for future support. Supported Flexibilities Within Transactions 01/19/18 Target Channel Sources Banks Credit Unions Mortgage Types In-house Loans [Portfolio] In-House Construction Loans [Two-Phase Loan] Single Fixed Rate or 2018 ComplianceOne mortgage Feature Guide 6

7 2018 ComplianceOne mortgage feature guide Supported Flexibilities Within Transactions In-House Construction Only Loans In-House Refinances* In-House Second Mortgages In-House Bridge Loans [12 or less months, closed-end, I/O with Balloon] Fannie Mae Fixed Rate Loans Purchase or Refinance Monthly payments Fannie Mae Variable Rate Loans Purchase or Refinance Monthly payments Reference above for scoped programs Freddie Mac Fixed Rate Loans Purchase Money or Refinance Monthly payments Freddie Mac Variable Rate Loans Purchase or Refinance Monthly payments Reference above for scoped programs FHA Section 203(b) Fixed Rate Loans Purchase & Refinance* FHA Section 251 Variable Rate Loans Purchase & Refinance* FHA Section 203(k) Fixed Rate Rehab Loans USDA Section 502 Rural Housing Loans Support of Initial and Annual Fee Calculations not USDA specific documents Veterans Administration [VA] Guaranteed Loans Parties to the Transaction Borrower, Individual, Owner Occupied Borrower, Individual, Owner Non-Occupied Borrower, Intervivos (Living) Trusts Borrower, Sole Proprietorship Borrower, LLC [Support mortgage lending to foreign nationals] Co-signers Guarantor [Individual or Trust] Illinois Land Trusts Seller Power of Attorney Signatures Payment Information Interest Rate Type: Fixed Rate Adjustable Rate Including index, adjustment periods, conversion options, assumption options, and caps 01/19/18 Const: Fixed Rate, Perm Variable Rate Fixed or Variable Rate Target Unsupported - a floor that is lower than the margin 7

8 Supported Flexibilities Within Transactions 01/19/18 Target ARM Initial Rate ARM Ceiling Definition ARM Floor Definition ARM Rate Change Information Repayment Method: Installment without Balloon [fully amortized payments] Installment with Amortized Balloon [In-House loans only] Installment with Amortized Balloon [Permanent Phase of Construction/Perm] Equal to the Market Rate Premium Discount Specific Value Specific Value None Single Periodic Cap Installment with Balloon [In-House loans only] Interest Only [In-House Construction Phase only, Fixed Rate] Interest Only [In-House only, Fixed or Variable Rate] Payment Frequency: Specific Value Initial Rate lower than Margin Relative to Initial Rate Relative to Market Rate Relative to Initial Rate Relative to Market Rate Multiple Periodic Caps Biweekly [fka FNMA Biweekly] Every Other Week [aka Biweekly] Monthly Quarterly Single Payment Annually Accrual Method: Fixed Rate Non-Construction 30/360 Actual/365 Actual/360 Actual/Actual Indexes: 1 Year Treasury Bill (CMT) 3 Year Treasury Bill (CMT) [In-House only] 5 Year Treasury Bill (CMT) [In-House only] 10 Year Treasury Bill (CMT) [In-House only] 26 T-Bill Rate [In-House only] 6M Wall Street Journal (WSJ) LIBOR [In-House only] 1 Year Wall Street Journal (WSJ) LIBOR 11th Dist. FHLB Cost of Funds (COF) [In-House only] Variable Rate & Construction ComplianceOne mortgage Feature Guide 8

9 Supported Flexibilities Within Transactions 01/19/18 Target JP Morgan Chase Bank Prime Rate [In-House only] National Avg. Contract Rate [In-House only] Wall Street Journal Prime [In-House only] Loan Features Applications Fannie Mae 1003/Freddie Mac 65 & WKFS Proprietary Application ARM Disclosure - Simplified, in transaction documents ARM Disclosure - 15 Year Index ARM Disclosure - Combined, within transaction set of documents Assignments Assumable Loans Barcodes in Taglines of Documents Buy downs Permanent (via Loan Discount) Commitment Letters Custom Documents via Professional Services, including Lender specific Privacy Document Demand Early/Upfront Disclosures TRID Loan Estimate Escrows Export HMDA data to a Pipe Delimited File FHA Mortgage Insurance Premiums (MIP) & UMIP High Cost Mortgages [In-House only] High Priced Mortgages [In-House only] HMDA LAR Preview Report Homeownership Counseling List/Document Late Charges Imaging support for downstream imaging workflows Lien Position Second or Junior [In-House only] Loan Amount Greater Than Sales Price/Appraised Value Loan Ratios: LTV, DTI, HTI Loan Renewals MERS - Mortgage Electronic Registration Support MERS language within existing documents MERS Algorithm to support creation of the number Modifications NMLS Numbers - Organizations, Originators Origination Fees Private Mortgage Insurance [Installment loans without balloon payment] Rate Lock Agreement 2018 ComplianceOne mortgage feature guide 9

10 Supported Flexibilities Within Transactions Secure exchange of documents and manage delivery/receipt requirements to Parties via WK E-Sign solution add-on Templates [Standard Product Features] Within Administration, ability to pre-configure Fees, Fee Policies, and associate to a Template for use at transaction time Templates [Standard Product Features] Ability to pre-configure field level attributes Collateral Categories and Types 01/19/18 Target Real Estate or Residence: 1-4 Family Dwelling Manufactured Home Permanently Attached to Real Estate Condominium Town home (PUD) Raw Land 2-4 Family Dwelling Mobile Home (Personal Property/Residence) Note: Documented with Raw Land Consumer Purpose Loans with collateral types of: Multi-Family Dwelling (5+) Consumer Purpose Loans with collateral types of: Non-Residential Real Property Additional Collateral: UCC Collateral Equipment generally; Fixtures; General Intangibles Financial Assets/Possessory Bond; C.D./Share Certificate; Deposit/Share Accounts; Life Insurance Policy; Mutual Funds, Securities Titled Motor Vehicle * Refinance as represented is the payoff of an existing real property loan and the consummation of a new loan. Refinance as represented is not the modification/renewal of an existing mortgage loan 3. ComplianceOne mortgage Prioritized Feature List Following is a list of the top feature priorities for ComplianceOne mortgage SaaS. When the implementation method is understood and refined for each feature we will communicate a targeted release date. We will communicate interim processes where available. Feature Improve User Experience (U) for Application Process Efficiencies Additional Information Target Release: Efforts continue to improve the user experience throughout the use of ComplianceOne so that users are more efficient in completing the Loan Application process and Closing Document packages. Continued areas of focus include: Increased template capabilities 2018 ComplianceOne mortgage Feature Guide 10

11 U Improvement Financial Analysis Importing of $0 Liabilities Support Generalized Lender Credits (an amount not attributable to a specific loan cost or other cost) U Improvement Collection of data about Parties to the transaction U Improvement Cash to Close U Improvement Consolidate Payoffs and Sales Price Calculations Page U Improvement Consolidate Payoffs and Payments Disbursement Page Split a Fee between Borrower/Seller/Lender or Other U Improvement Closing Disclosure Page U Improvement Vesting Language U Improvement Use Preconfigured Trustees in Transactions U Improvement Transmittal Summary - Proposed Housing Expenses PMI Policies Loan Renewals Improved data collection and reduction of duplicate data entry Improved application and denial workflows Improve ability to exclude all liabilities that have a zero balance from importing from the credit report. Also to selectively choose other liabilities to exclude. Interim Process Until improved, Lenders have the ability to use the exclude column found in the Liabilities section of Assets and Liabilities on the Financial Analysis page of ComplianceOne mortgage. Ability to document a General Lender Credit(s) on a loan to reflect the terms and conditions offered the borrower(s). Interim Process: Until supported, Lenders have the option to designate specific fees as Paid by Lender. Note: ComplianceOne mortgage already accommodates Lender Credits in situations where a tolerance between the LE and the CD occurs. Improve collection of Party data collection by consolidating where the data is collected. Interim Process Current data collection capabilities. Simplify collection of data and population of the Cash to Close frame within the Calculations page and the Cash to Close sections of the Loan Estimate and Closing Disclosure. Interim Process: Current data collection capabilities. System calculate values to populate the Cash to Close section of the Calculations page (such as the Total Existing Debt Being Satisfied) based upon the liabilities entered on the Financial Analysis page and marked as "payoff". Interim Process: Current data collection capabilities. Ability to enter Payoffs and Payments information once within the system and have it populate to the Disbursement page. Interim Process: Current data collection capabilities. Ability to split and properly disclose the paid by value of a single fee between multiple parties. Interim Process: Until supported, a single fee must be designated as paid by Borrower, paid by Seller, paid by Lender, or paid by Other. Reduce the information on the Closing Disclosure page to data and information based upon transaction parameters. Also improve how the information is presented intuitive and relatable to the Closing Disclosure for the user. Interim Process: Current data collection capabilities. Simplify and unify data entry for vesting language across documents. Interim Process: Current data collection capabilities. Support ability to select a pre-configured organizational Trustee within Collateral page. Interim Process: Current data collection capabilities. Reuse data already collected and available within the Financial Analysis page to populate the Other Monthly Housing Expense field within the Calculations Page so that this data can then flow to the Transmittal Summary. Interim Process: Current data collection capabilities. The ability to preconfigure PMI policies within Administration to reduce manual, repetitive data entry by users at transaction time and reduce risk associated with manual user errors. Interim Process: Until available, details can be entered within Calculations page. The ability to support Loan Renewals will be added in the future as part of the ComplianceOne mortgage SaaS prioritized roadmap. Interim Process: Until supported we are not aware of an interim process that can be used within ComplianceOne mortgage ComplianceOne mortgage feature guide 11

12 Consumer Purpose Real Property Loan secured by Multi- Family Dwelling (5+) Securing the Real Property Loan with Additional collateral Construction/Perm - Subsequent Rate Change Period Variable Rate Specific Value for Initial Rate Definition Construction/Permanent Loan, Single Closing, Amortized Balloon Construction Loans with a Single Payment Simplex/Duplex Printing of Documents Refinance Multiple Advance for Cash-Out Closed-end In- House loan Account Number Generation Allow Escrow Reserves to be Financed FNMA Biweekly Payment Frequency Configure Watermarks on Documents As TRID applies to consumer-purpose loans, customers need the ability to document loans where the collateral is a Multi-family Dwelling (5+). Interim Process: Until supported, the lender would need to document these loans outside the use of ComplianceOne mortgage. Includes (in priority order) Collateral; Financial Assets/Possessory Collateral; UCC Collateral, & Titled Motor Vehicles Interim Process: Until supported, the Lender would need to do consumer loans within ComplianceOne lending against the non-real property collateral and document value of the real property loan within ComplianceOne mortgage. Provide ability that allows the Phase 2 subsequent rate change period to be different from the initial Phase 2 rate period. Interim Process: Until supported, subsequent rate change must be same as the initial rate period. Ability to define a specific value for the initial rate as well as allow the specific value to be below the margin. Interim Process: Until supported, utilize available options of equal to market rate, premium, or discount. Until available, the specific value cannot be below the margin. Ability to document an Amortized Balloon in the Permanent Phase of a Construction/Permanent Loan. Interim Process: Until supported, lender can A) Use Installment in Permanent Phase or B) Document as two separate transactions: 1) Construction Only loan and 2) Permanent financing ARM with an Amortized Balloon. Ability to document a single payment on the construction or permanent phase of a construction/permanent loan. Interim Process: Until supported, Lenders can use an Interest Only option with monthly or quarterly payments or available installment options of quarterly, monthly, or every other week. Ability to print packages of documents according to desired user print selection with proper breaks between documents if duplexing while enforcing recordable document needs. Interim Process: Until supported, the Lender can duplex documents by printing each document the user must be aware of any recordable document constraints for their jurisdiction. Ability to document in-house, fixed or variable rate, multiple advance, cash-out, closed-end refinance loan. Example: Refinance a construction loan not fully advanced with additional money. Interim Process: Until supported additional cash must be provided in a single advance. Ability to configure and utilize Automated Account Number generation for transactions. Interim Process: Until supported, Account Numbers can be generated in ComplianceOne lending and then manually entered in the Load Definition area of ComplianceOne mortgage. Allow Escrow Reserves to be Added to the Amount Requested for a loan. Interim Process: Until supported, lender can use either Subtract from Proceeds or Paid in Cash. Use of FNMA Biweekly repayment method for In-House Fixed/Variable Rate loans or Freddie Mac Fixed Rate loans. Interim Process: Until available, use Every Other Week repayment method. Ability for Administrators to configure the use of a watermarks on documents so users are able to distinguish originals from a duplicate versions (copies) of the document ComplianceOne mortgage Feature Guide 12

13 Barcodes in Taglines of Documents Improve User Experience with OneSum ARM Rate Information Initial Rate, Ceiling, Floor, Rate Caps Interim Process: Until supported, document copies cannot be watermarked. The ability to utilize barcodes on documents is being researched relative to broader electronic workflows and is on our prioritized roadmap. Interim Process: Until supported, there is not an automated interim process unless the Lender has workflow capability to apply a barcode to a printed document enabling further workflow processes. Provide single sign-on capability between ComplianceOne and OneSum. Interim Process: Users can access OneSum for Customer Due Diligence and OFAC from within ComplianceOne however, they will be asked to sign-into OneSum. Additional ARM rate definitions will be supported in the future as we resolve existing regulation ambiguity or content and calculation limitations. Interim Process: Until supported, Lenders can use existing available options. For ceiling limitations: Lenders can obtain the same impact of having the Ceiling relative to the market rate by utilizing the Specific value option and calculating what that value would be manually. In situations where the Initial Rate is lower than the margin (this will occur with some indices that are extremely low and the lender is offering a discount), the lender can utilize a different index or work with the other parameters i.e. margin and/or discount. 4. ComplianceOne mortgage Unsupported Features The following transaction features will not be available within ComplianceOne mortgage and are not currently planned for future support. These items will be considered if there is sufficient market need. Product, Transactions, and Transaction Flexibilities Not Supported Channel Sources Not Supported Correspondents Finance Company Mortgage Companies/ Mortgage Brokers Mortgage Products Not Supported Cooperative Housing Real Property Loans Fannie Mae: - Standard Growing Equity [3255] - Standard Fixed/Adjustable Rate, Index =10 Year Treasury [3263] - Standard Biweekly with or without conversion [3264, 3265] - Standard Adjustable Rate, Index = 1 Year CMT, Programs = 3501,3503,3508, Standard Adjustable Rate, Index = 1 Year WSJ LIBOR, Programs = 3525,3527, Standard Adjustable Rate, Index = 3 Year CMT, Programs = 3504, Standard Adjustable Rate, Index = COF, Programs = 3510, Negotiated Texas Home Equity, Convertible, Index = 1 Year CMT [ ] - Negotiated Texas Home Equity, Non-Convertible, Index = 1 Year WSJ LIBOR [ ] - Negotiated Texas Home Equity, Convertible, Index = 1 Year WSJ LIBOR [ ] - Negotiated Texas Home Equity, Non-Convertible, Index = 10 Year CMT [ ] - Negotiated Adjustable Rate, Index = 5 Year CMT [3514] - Negotiated Navajo Nation Mortgages [3270] Freddie Mac: - Affordable Merit Rate Product [3294] - Standard Adjustable Rate, Index = COF [3510] - Standard Adjustable Rate, Index = 1 Year CMT, Programs = 3501,5511,5512, Standard Adjustable Rate, Index = 1 Year WSJ LIBOR, Programs = 5530,5532,5533, Standard Adjustable Rate, Index = 3 Year CMT [3504] - Standard Adjustable Rate, Index = 6 Month WSJ LIBOR, Programs = 5522,5524 FHA Title 1 Manufactured Home Loans FHA Second Mortgages/Liens 2018 ComplianceOne mortgage feature guide 13

14 FHA Streamline Refinance Home Affordable Refinance Program (HARP) Leased Properties Making Home Affordable Modification Programs (HAMP) Mortgage loans to unincorporated U.S. Territories - Guam, U.S. Virgin Islands, Puerto Rico Mortgage loans beyond 51 jurisdictions Reverse Mortgages State Housing Authority Loans Mortgage Documents Not Supported Documents for Secondary Market Investors other than Fannie Mae, Freddie Mac, or HUD/FHA Electronic Booklets - HUD Settlement Cost Disclosure, Consumer Housing Adjustable Rate Mortgage Disclosure Freddie Mac Master Form/Short Form Security Instruments Servicing Workflow Phase Documents Spanish or Bilingual Documents [except those mandated by regulation] Transaction Features or Additional Capabilities Not Supported Buy Downs - Temporary Credit Life & Disability Insurance offered and documented with the mortgage loan Collateral: Manufactured Homes Unattached to Real Property; Personal Property Residences (other than Mobile Home); Titled Goods Debt Cancellation & Bundled Debt Cancellation offered and documented with the mortgage loan Configure use of Maturity Date on Security Instruments Due to associated business/compliance risk, we will not be providing this capability in our standard product. Customer can engage Professional Services for custom documents if critical to their business. Configure printing of Interest Rate on Security Instruments Due to associated business/compliance risk, we will not be providing this capability in our standard product. Customer can engage Professional Services for custom documents if critical to their business Use of Electronic Signatures on documents Negative Amortization No Cost Loans Parties to the Transaction - Entities other than Individual, Sole Proprietor, Trust, or LLC Payment Frequencies: 73 Days, Bi-monthly, Semi-annually, Semi-monthly, Weekly Preferred Rates Prepayment Penalties Private Mortgage Insurance on Installment loans with Balloon payment Repayment Methods: Mixed Principal & Interest, Level Principal Reduction, Irregular Payments Skip Payments Solve for term Calculations For information regarding Business-to-business and Core System interfaces for use within the workflow of ComplianceOne mortgage reference the ComplianceOne mortgage Interface Guide ComplianceOne mortgage Feature Guide 14