EPN Bundled Services Platform Release Scheduled for Friday Morning, July 20th, 2018

Starting Friday morning, July 20th, 2018, we will be releasing new features into EPN that will be available to you and your clients.  Perhaps one of the biggest enhancements in this release is the ability to better manage equity and other sub-loan products with the Create Secondary Loan feature.  Additionally, clients can include multiple EPN users on all auto-email notifications, and edit loan information (including Loan Amount) on MLRs.  Read on for complete information.

New Processing Management Tool for Equity Loans – Secondary Loans in EPN Your clients can now create secondary loans from any loan that currently exists in EPN. Primarily used for equity loans that will have a different loan number than the primary, this feature allows clients to create a new loan from an original loan without having to re-type borrower and loan information. The two (or more) loans will then be “linked” so that they can be tracked as related to each other, but with different loan numbers. Users can switch back and forth between the linked loans with a simple click of a button. When using this feature, the loan number will not be copied from the original loan to the new loan. Additionally, none of the products ordered on the current loan will copy to the new loan, but the applicant and property information will. How to use this feature: Open an existing loan, and you will see a new button called Create Secondary Order (note that secondary loans already linked to a primary will not have this button available). Click this button, and you will see a confirmation screen that reads “Creating a secondary order will transfer borrower data from this current order but will not transfer current products.  Existing users on the order may be unable to access new products you order.”  Clicking OK here will create the secondary loan.  Users can enter a new loan number, verify the information is what they want, then proceed with dragging and dropping vendor types onto the order screen to place orders. Users can move between primary and secondary loans with the Show Linked Orders button.  Users can track linked loans with a new Parent Reference # field that can be included on management reports. Things to keep in mind: If an originator user type creates the primary loan, and a supervisor or administrator creates the secondary loan, the originator of the primary loan may not have access to the secondary loan.  The originator will need to be added to the loan via the Notification Emails section to be able to access the loan. If you want to track linked orders, your existing management reports will need to be updated to include the Parent Reference # data field.  To do this, from your manager account, go to either Reporting option (Manager Reports or Vendor Reports), find the existing report you want to edit, expand it, click the Edit Report button, check the Parent Reference # field, and Save your changes.

Add Notification Emails to User Profiles to Promote Team-Based Loan Processing Your clients may have multiple loan processors that help each other do their work. Or, an underwriter may work with specific processors, and the underwriter needs to be kept in the loop on the processors’ loans. In cases such as these, managers and lender administrators can now include multiple email addresses on individual user profiles to notify additional EPN users when loan and/or order statuses change.  Keep in mind that EPN already offers the ability to add notification emails to individual loans on a case-by-case basis from the Notification tab within a loan file. How to use this feature To add additional email addresses to a user’s profile, login as either a Manager user or a Lender Administrator, and find the client company you want to update. Move to the Users tab, then find and expand the user that you want to add notification emails to. Once the user is expanded, click the Edit User button, then locate the Additional Notification Emails field, and enter in as many email addresses as you like, separated by a semicolon.  When done, Save your changes.  From this point going forward, whenever the original user receives a communication from the system, all the users in the Additional Notification Emails field will also receive the communication.

New Ability to Edit Loan Information on MLR Orders Users can now edit MLR order information, such as the Loan Amount, after an MLR order has been placed. Once information is edited and saved, a new MLR output will be generated. Editing existing MLR information, such as Loan Amount, will not cause another billing charge to be incurred. Editing MLR information will post to the Edit Log on the MLR access to track all editing activity.  Note that users can only edit MLR information for 30 days after the report is generated. How to use this feature: Once an MLR order has successfully completed, users can open the loan, then scroll down to the Products section, find the MLR order, and expand it to view the details.  In the Additional Information section, there will be an Edit button that users can click on.  Certain fields will be available for editing, and others will not. Users can then type in certain fields, such as the Loan Amount field, and Save.  On save, a new MLR output will be generated with the updated information and stored.  Both old and new outputs will be available, so users should make sure that they use the correct output.