As many of you know, we added the GFE 2010 form in the August launch of Point® 7.1. Since that launch and the subsequent 7.2 release, we discovered that our form is not completely in compliance. Of course we had done our due diligence and the form was deemed compliant by HUD– but then–due to last minute changes–it wasn’t.
So, today we have made the free compliance update available on our support site to all 7.2 customers. You’ll need it to be compliant in January.
This mandatory update, Point 7.2 Service Pack 1 (SP1) , provides the following solutions for the GFE 2010:
- Signature lines on Page 3 of the GFE 2010 have been removed
- Line for Flood certification fee has been added to old GFE Form
- Updates to Print-only features address mandatory compliance issues
SP1 also features several minor enhancements necessary for improved functionality of Point and PointCentral™:
- Point PDFs for interfaces and document storage
- Closing document interface
- NMLS number field
- Rules (PointCentral)
- Freddie Mac® birth date imports
- Co-borrower synchronization
If you are currently on 7.2, please download SP1 here and enjoy the rest of your holiday!
If you are not on 7.2, you’ll need to update your software in order to be compliant for 2010. Call 800-362-2599 now to ensure you can process loans next year!