XOP Enhancements Scheduled for Friday Morning, Nov. 30th, 2018

Make Your Processes More Efficient by Emailing Borrower Score Disclosures

Starting Friday morning, November 30th, 2018, you will be prompted to install a new version of XOP.  Once installed, you will have the latest and greatest XOP features available to you, including the ability to email score disclosures to borrowers, new services available for your products, UDM alert enhancements, and more.  Review this bulletin for complete information.


Emailing Score Disclosures – It’s Here!  Get Started Saving Yourself Time Today
Want to save yourself a ton of time and money on your Score Disclosure processing work? XOP now offers you the ability to auto-email borrower score disclosures! Just think: no more printing hundreds of score disclosures daily, folding them, stuffing them into envelopes, printing address labels, and paying for postage. A simple email with the attached disclosure can streamline your processes!

We have implemented score disclosure emailing right into the current score disclosure process in XOP, so you can enable it and manage it right from where you are used to working. If there is a problem or issue with the email being delivered, XOP is smart enough to automatically place the disclosure into your print queue so it will be printed with your next batch, so you will never miss sending out a disclosure.

As long as the borrower and co-borrower email addresses are entered when placing the order, the email addresses are valid, and the order is placed through a supporting system (see below), you can expect to process disclosures more efficiently, and stay compliant with borrower score disclosure/notice to home loan applicant requirements.

How it Works
When you enable the score disclosure emailing service, XOP will automatically generate an email notice and attach every score disclosure to the email that’s needed. As long as a valid borrower/co-borrower email address is entered on the order, you will be able to go to the Print Score Disclosure screen (File | Print Score Disclosures), and click either the Print/Email or the Generate Print Files/Email buttons. This will prompt XOP to first attempt to send emails to borrowers and co-borrowers with attached score disclosures, and if there are any emailing issues, will put the non-emailed score disclosure into the print queue.

The Score Disclosure management report will be enhanced as well so that you can track and manage the date the email went out, as well as if the email was delivered or not.  This information will be combined with the regular Score Disclosure management report so you have a single place to manage and track your disclosure servicing.
 
Supporting Systems for Score Disclosure Emailing
Clients that order from either the Client side of XpertOnline, or the Encompass LOS, will be able to utilize this feature.

We have reached out to a number of other LOS’s, but so far others like Calyx Point and Byte have not confirmed that they are able to pass borrower/co-borrower emails consistently over to XpertOnline when orders are placed from the LOS.  We are working with them and will keep you posted.

Additional Enhancements Include...

New Services on Products Make Processors’ Lives Easier
Two new Additional Services are available to limit former addresses to only 24 and 36 months.  These services can be added to your products.  When enabled, they can help cut down on labor since former addresses can date back to the early 2000s, which may not need to be reported.
  • Remove former addresses older than 24 months – will identify former addresses older than 24 months from the report order date, and suppress them from displaying on the credit report output.
  • Remove former addresses older than 36 months – will identify former addresses older than 36 months from the report order date, and suppress them from displaying on the credit report output.


How to use this feature:
Login to XOP, then go to the Setup | Clients menu option, find the client whose product list you would like to update, move to the Setup tab, and click the Lookup Product List button.  In the Product Lists view, click on the product you want to update, then click the Product Detail button.  In the Product view, click the Services option, and in the Additional Services section, scroll down until you find the Remove former addresses older than 24 months and the Remove former addresses older than 36 months.  You can right-click on either one of them and set it to Selected to enable it on the product, then Save your changes.  Do the same thing for other products you want enabled.

UDM Alert Reports Now Attached to Notification Emails
Whenever a UDM product returns a notification email to let the client user know that new, undisclosed debt was found, XOP will automatically attach the UDM alert output to the email. Since no personally identifiable information (PII) is included on the UDM alert, attaching the alert output to the email will make it more convenient for users to get their UDM reports, especially those users that are ordering from an LOS. They will no longer have to login to the client side of XpertOnline to get their UDM alert reports (unless they want to).

How to use this feature:
There is nothing you or your clients need to do to get this feature.  It is enabled by default.

TU UDM Enhanced with More Information for Better Decisioning
The TU UDM alert output will contain two additional pieces of information to help with better undisclosed debt account and borrower identification.  With this release, on TU UDM alerts, the Subscriber ID for the trade will now be included.  Additionally, the output will now show which borrower the returned UDM output is for.


How to use this feature:
This information will be included by default on TU UDM alert outputs, as shown here. There is nothing you need to do to deliver it to your clients.