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NEW 1003 RE CONFIGURATION ON LETTER SIZE...Expand / Collapse
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Posted 2/16/2006 2:51:08 PM
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THERE ARE ABOUT 8 OF US IN OUR OFFICE THAT HAVE USED POINT FOR A FEW YEARS.  I HAVE USED IT FOR OVER 15 YEARS.  WE ALL HATE THE REFORMATTED SHORT PAPER VERSION. IS THERE ANY WAY WE CAN CHANGE IT BACK TO LEGAL SIZE FORMAT?

CHRIS

Post #2605
Posted 2/16/2006 4:28:44 PM
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Fannie and Freddie published the revised 1003 on letter size only
Post #2606
Posted 2/16/2006 11:28:37 PM


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There is no way to change it back to legal at this time. Letter size was the preferred choice by Fannie and Freddie because it's a more user-friendly format than legal, that's why they only published letter size on their website. But they still accept the final 1003 in legal size format.

Can you rank the dislikes you have about the letter size 1003, in order of the strongest dislike first, and the weakest one last?

1) odd number of pages (5 pages instead of 4).
2) spacing of the data on the pages
3) layout of the sections of the letter-size 1003
4) other _________________________________

I would like to hear your feedback. Thanks.

Bryan
Point Product Manager

Post #2610
Posted 2/17/2006 8:48:10 AM
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THAT CAN'T BE TRUE.  WE ALSO STARTED USING ENCOMPASS IN THE LAST COUPLE OF MONTHS AND THEY STILL PRINT OUT LIKE THE OLD ONES, ALL LEGAL SIZE, EXACTLY LIKE THE OLD ONES.  THEY ARE PART OF ELLIE MAE.
Post #2612
Posted 2/17/2006 8:51:51 AM
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THE MOST ANNOYING THING, I GUESS, IS #4- WE HAVE TO SEARCH AROUND FOR THE SECTION WE WANT TO WORK ON BUT THEY'RE NOT IN THE SAME PLACE AS BEFORE SO IT TAKES LONGER TO LOOK FOR THE CORRECT PART OF THE 1003.

THE SECOND WOULD BE #3.

THE THIRD WOULD BE #1

THE FOURTH WOULD BE #2.

WHY IS IT THAT ENCOMPASS CAN STILL PRINT OUT THE SAME AS THE OLD VERSION, ALL LEGAL PAGES, SAME NUMBER OF PAGES?

Post #2613
Posted 2/17/2006 9:16:16 AM


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We added a "Go To" button which is available on each page of the loan application to make finding your section less painful. It takes some getting used to with the new layout.  I've worked at Calyx for 8 years and it took me a while to get used to the new layout too.  But I find it easier now because sections logically relate to each other, for example employment and income are grouped on the same page, liabilities and REOs are together. 

As I said, the legal size is still acceptable. Ellie Mae opted to keep the legal document, and it's perfectly acceptable by Fannie and Freddie.
http://www.efanniemae.com/sf/formsdocs/forms/1003.jsp
http://www.freddiemac.com/sell/forms/docs/080205indltr_body.html

Both agencies said as long as the data was not altered that legal or letter was fine. Calyx opted for letter size because printing the document is more user friendly. Legal size is somewhat going away.

Do you want the option to print letter/legal?

Thanks for your feedback. 

Bryan
Point Product Manager

Post #2614
Posted 2/17/2006 10:11:50 AM
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IS THERE A WAY TO PRINT ON LEGAL IN POINT?  WE WOULD LIKE TO DO THAT, IF POSSIBLE.
Post #2615
Posted 2/17/2006 10:25:44 AM


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Currently in Point 5.2 there is no way to print the new loan application on legal.  I will forward your feedback to the development team that you would like to print the new loan application on legal size.

Bryan
Point Product Manager
Post #2616
Posted 2/17/2006 12:05:22 PM
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THANKS, I'LL BET WE'RE NOT THE ONLY ONES WHO WOULD LIKE THAT OPTION.  I KNOW SEVERAL MORTGAGE BROKERS THAT WOULD TOO.  WE ARE MORTGAGE LENDERS.

CHRIS

Post #2617
Posted 5/22/2006 2:58:32 PM
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Yes this becomes very confusing when it comes to printing a set of documents. Is there any other way to simplify the process, rather than have to do 2 sets of printing, one for legal paper (transmittal, truth in lending, and gfe) and the rest in letter?