November 6, 2024 Release Notes

New features and updates that will be released Nov 6th by 9 am CST.

Summary

• Separating Borrower Loan Applications from Follow-up Tasks

• Mortgage Insurance Beta Testing

• Bugs & Code Cleanup

Separating Borrower Loan Applications from Follow-up Tasks

We’ve streamlined the application process for borrowers by clearly separating application tasks from follow-up tasks. This enhancement allows borrowers to concentrate fully on the task at hand, giving them a sense of progress toward fulfilling the necessary requirements for their loan.

In this improved experience, borrowers will first encounter the application tasks, completing them as they do today. After submitting their application, they will seamlessly transition to the follow-up task tab, where they can focus on providing the required documents. This new approach is designed to boost both application submission rates and document submission rates, ensuring a smoother and more efficient process for everyone involved.

Application Tab

Follow-up Task Tab

Private Mortgage Insurance Beta Testing in November

We're bringing Private Mortgage Insurance (PMI) shopping into the Maxwell Point of Sale. If you use Maxwell Loan Pricer integration Product & Pricing Engine (P&PE), your organization can opt-in to get PMI in the Point of Sale. This feature will be available for beta testing in late November with Arch, Enact, and MGIC. If you would like to be part of the beta testing group please contact [e-mail] to get set up.

Providers Available during Q4 Beta Period

• Arch

• Enact

• MGIC

We will support Essent, National, and Radian in our general market release in Q1 2025.

Loan products where MI is required will have a Get MI Quotes button available.

Lenders can review quotes from all their connected MI providers and select a rate for the borrower.

Enabling the MI Quotes Integration Beta

Value for Clients: This feature will allow lenders to price shop mortgage insurance within the POS and bring more accurate pricing into the pre-qualification experience. This will provide more accurate pricing when sharing loan options with borrowers and for pre-qualification analysis.

Learn More: For a full overview of the feature and how to enable it go to our Mortgage Insurance page in our documentation hub.

Beta Testing: We are offering beta testing of this feature with 3 MI partners in Q4. If you would like to participate, please reach out to [e-mail]. Your organization will need to provide a valid master policy number (lender identifier #) for all PMI providers you work with.

We will roll this out for general availability with all 6 major integration partners in Q1 2025.

Bug Fixes and Code Cleanup

• Document Auto-Push Bug Fix: We resolved an issue where documents that were being uploaded with a description added to them were not automatically pushed to the LOS. Now all documents uploaded will push to the LOS according to your organization's document sync settings.

• Removed QuickApply Branding from LenderHub: We removed the QuickApply logo and branding from the LenderHub view of tasks since QuickApply is primarily a borrower-facing message to encourage use of instant VOE/I, VOA, and QuickApply within the loan app process,

• Changed Follow-Up Tasks Creation from Confirmation Modal to a Success Message: After a lender creates a task they will now receive a small success message in the upper right-hand of the browser window, that doesn't require any action to proceed.

• Added Maximum Reminder Setting for Due Dates Notifications: We added a setting at the partner level to set the number of automatic reminders a borrower will receive on a task. The default setting is 3 email reminders on each task, but it can be configured to whatever maximum limit your organization chooses.