
Point streamlines processes and gives you the forms and tools you need to close loans faster – and now with version 6.2 you are complaint with all of the new FHA regulations.
COMPLIANCE
Feature	Functionality
FHA Loan Underwriting and Transmittal Summary (HUD-92900-LT)	Point contains the new FHA Loan Underwriting & Transmittal Summary that is required on every FHA loan starting October 1, 2008. This form replaces both the FHA Mortgage Credit Analysis Worksheet Purchase Money Mortgages (MCAW) (HUD-92900-PUR) and FHA Mortgage Credit Analysis Worksheet (HUD-92900-WS). This form is listed as both an Individual form and a Combined form for multiple co-borrowers located in the Forms > FHA menu. They are titled, “FHA Loan Underwriting and Transmittal Summary (HUD-92900-LT)” and “FHA Loan Underwriting and Transmittal Summary – Combined”. The Individual printed form is a two page document; the second page provides additional instructions and information for completing the form. To print or view the second page, please refer to the FHA Loan Underwriting and Transmittal Summary (HUD-92900-LT) - Page 2 in the FHA print menu. (Note: The current Purchase and Refinance MCAW’s will remain in the program to allow you to print your remaining files that use these forms. These screens and forms will be removed from the program in a future version of Point.)
FHA HUD/VA Addendum (HUD-92900-A)	This form has been updated with mandatory changes including Co-Borrower signature lines and new required verbiage. This revised form must be used for all FHA loans submitted on after 10/01/2008. These changes only affect the printed version of the form.
CA Mortgage Loan Disclosure Statement (RE-883 & RE-885)	The CA Mortgage Loan Disclosure Statements for Traditional and Non-Traditional loans have been updated to the current version of the form.
GENERAL ENHANCEMENTS, CHANGES, AND FIXES
Feature	Functionality
Good Faith Estimate	The GFE has been returned to a 1-page legal size document. The GFE will not go back to a letter size document unless RESPA regulations governing the GFE require it. The Summary section at the bottom of the form has been enhanced. All charges are now aligned on the left and all credits on the right, making it easier for borrowers to understand the terms and closing costs associated with their loan.
Liabilities “Omit” Checkbox	The “Omit” checkbox in the liabilities section now excludes the balance and payment from the ratio calculations.
Add or Remove Programs	When two instances of Point 6.1 were installed on a computer, the Windows Add or Remove Program manager would display multiple instances of Point installed. For Point 6.2, regardless of how many times Point 6.2 is installed, only one instance will appear in Add or Remove Programs.
Root Directory	Point 6.1and 6.1a installations would fail in a Citrix environment and display an error specifying that the C:\ drive cannot be found. Point installation now reads the source directory, then changes the drive letter accordingly so that the installations will be able to go forward.
Characters Added During Installation	During some Netsetup installations, the vertical pipe character ‘\|’ was added after the data folder name in the user’s WINPOINT.INI file. This character is no longer added, and any errors previously experienced should no longer occur.
Verification Printouts	When placing a check in the box “Print ‘SEE ATTACHMENT’ in the signature box” of a verification, these words would print on all verifications and not just on the verification form in which the box was checked. This has been corrected, and the statement only prints out on the verification it was checked on.
Create New Task File Path	When creating a new Point task, the file path was missing from the loan file box which required the user to click ‘Browse’ to find the file. This has been corrected, and the file path of the current open loan is populated into the loan file box.
Open Fields in Other Housing Expense for Data Entry	The fields for School Taxes, Flood Insurance, and User Defined Fields under the ‘Other’ button in the Housing Expense & Obligations dialog box are enabled and allow you to enter data into them directly. You no longer have to go directly to the GFE to enter these fields.
FHA/VA Addendum	Line #10 (Discount Amount) and Line #12 (Monthly Premium) / Term of Monthly Premium were not populating on the FHA/VA Addendum. These fields now automatically populate with the correct Discount and Mortgage Insurance Monthly Premium amount.
Loan Comparison Alternatives	Field ID’s from Loan Comparison screens (.AL1 & .AL2) have been enabled so that they can be pulled into Custom Forms to create custom letters and marketing materials.
Populating Credit Scores from DO/DU	When pulling credit from Fannie Mae’s DO or DU Underwriting system, the credit scores now populate the Credit Scores Dialog box (found on the Borrower Information screen and the Transmittal Summary).
Character Limitations Increased	Point no longer limits the amount of characters that are stored in .INI files. This limitation mainly caused issues when a company would have a very long list of Loan Representatives and/or Processors. Lists are no longer limited and can have as many characters as necessary.
Amortization Schedule Printing	In Point 6.1, the Amortization Schedule printed the ‘Prepared For’ information over the ‘Prepared By’ information causing data to overlap on the printed form. This has been corrected, and the printout displays correctly.
PDF Files in Point	Point now supports saving PDF files in Windows 64-bit Operating Systems.
Updating Fannie Mae User ID/Password	When changing the Fannie Mae User ID/Password under the Utilities menu, the update would not take effect until the user completely exited out of Point and then re-entered the system. You can now change the User ID/Password, and the changes will take effect immediately without having to exit and re-open the application.
Reports in Excel	The “Keep the report results open” checkbox is now checked by default once a report is displayed within the embedded Excel report viewer.
Verification Forms	After updating the phone number from within the Utilities > Company Information > Processing Center menu, the Company Phone number will now print on all verification forms.
Saving Dropdown Lists	When only dropdown lists are modified, Point now displays the Save dialog box.
Freddie Mac Credit Reference Number	When exporting a Freddie Mac file, Point would remove any letters from the LP Credit Reference Number field. This has been corrected, and Point exports all alphanumeric characters in the exported file.
The Work Number Interface	The Point loan number has been added to the Work Number interface. The loan number will print on the Verification of Employment or Verification of Income report.
Copying Data to Loan File	When selecting "Copy only data to start a new loan application including co-borrowers" option, Point copied the Basic Documents checklist into the new Point file. This has been corrected, and the Basic Documents list does not transfer into the new Point file.
Yield Spread Premium Rounding on GFE	When inputting a Yield Spread Premium on the GFE as a percentage, the amount would round up or down to the nearest dollar. This has been corrected, and Point displays the value with cents.
Truth-in-Lending	When changing the Subject Property Address (Field #31), this field will automatically update the Truth-in-Lending field ‘You are giving a security interest in’ (Field #2162). Previously, you needed to click into the field every time the address was changed in order for the field to update with the new property address.
Credit Score Disclosure	The Borrower’s First and Last name would print in the City, State, and Zip field where TransUnion’s addressed should have been displayed. This has been corrected, and the addresses print in the correct location on the form.
Interviewer's Signature	When entering the Loan Application Page 3, the Interviewer’s Signature date was auto-populated with the current date. This field no longer auto-populates, and requires you to enter the data manually.
Fannie Mae MSA Table	The Fannie Mae Metropolitan Statistical Area (MSA) table has been updated to the latest version.
PDS - Borrower Files Deleted When Re-Opening	When opening a Co-Borrower file from within a Borrower file in PDS and then trying to re-open the main borrower file by using File > Open, an error message would appear stating that the file is already open and asking if you want to open it in read-only mode. When selecting “No”, the Point file would get deleted. This has been corrected, and Point files are no longer deleted.