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CTP HMDA Updates |
Census Traks Plus HMDA 3.5 CTP 3.5 has been released accommodating the October 1, 2009 FFIEC mandated reporting changes. CTP 3.5 now accepts Fixed and Adjustable rate mortgage entries and calculates the appropriate RATE SPREAD for submission. CTP 3.5 must be downloaded and installed PRIOR to Oct 1, 2009. To download CTP 3.5, click on the link below after reading the CTP 3.5 Release Notes listed below. (The update file is a self extracting file that will install the update files in your C:\Program Files\CTPH2004 directory UNLESS you specify another location.)
Census Traks Plus 3.5 Release Notes RATE SPREAD Calculation The new reporting specifications require the RATE SPREAD to be calculated with one of three (3) possible rate tables: Standard Rate table for all loans approved prior to Oct 1, 2009; Adjustable Rate and Fixed Rate tables for all loans approved after Oct 1, 2009. The new RATE SPREAD calculation requires the downloading of the rate tables weekly. Included in CTP 3.5 is an automatic download of all required rate tables from the BITI website. The BITI website continuously checks the FFIEC website for the availability of new rate tables every 3 hours of every day, so you are assured of the most current rate tables. New Start-up Screen When you start-up CTP 3.5 a new splash screen will pop-up with the status of your rate tables. If your rate tables are out of date, you can select 'Update Tables' and you will be connected to our server. The current tables will be downloaded to your systems . Editor Screen Changes The Rate Spread section of the Editor screen has been changed to include 'Amortization Type'. This entry is required to calculate the Rate Spread for loans after Oct 1, 2009. If the Application Date is prior to Oct 1, 2009, no entry is required and you will not be able to enter any data. If the Application is Oct 1, 2009 or later, then this data cell is open for input and a valid entry is required.
Loan Documentation Interfaces Laser Pro - BITI's export application will extract the Adjustable / Fixed flag and lock-in rates to be used with CTP 3.5. This release will be available the week of Sep 21, 2009. Exported Files - Compliance One, GulfPak, and any export from other loan doc applications are compatible with CTP 3.5. Call BITI if you would like an interface built for your loan doc application. Editor Mode In Editor mode, all 5 fields need to be populated with valid data to create the Rate Spread. If you input a value for the Rate Spread from a batch file and then select the 'Calc' button in Editor mode, you will be prompted with a message confirming that you want to overwrite the manual input. If you respond with 'Yes' to continue, the user supplied Rate Spread will be removed and a Rate Spread will be calculated from the input data. If there is missing input data, the Rate Spread will be removed and NOT be updated until all 5 fields have valid data. Batch Mode Batch mode works exactly the same as it did prior to the update. |
