One area where changes have been made is Credit Report Enhancements.  The system will include two new summary flags to indicate a Presence in the OFAC (Office of Foreign Assets Control Database) and charge-offs within the last 84 months.   A new delta change indicator will automatically compare any new summary flags to those included in the last requested report. 

New items will also be created to alert regulators of delta changes in the summary flags and credit score.  Regulators will be alerted and can review changes to a flag that has been degraded or improved, where the count of flags has increased by one or more, or a credit score has been degraded.   

A second area is Disciplinary Actions.  Updates are being made to require federally registered MLOs to provide disciplinary action information related to any "yes" responses to disclosure questions.  

State regulatory actions will trigger notifications to the respondent and the relevant company.  This will include updates to existing notifications, notifications when an individual has been added as a respondent to an action or an action has been modified or removed.

The existing notification sent to institutions when a mortgage loan originator they employ submits a filing with new or updated disclosure explanations will be updated to reference disciplinary actions.

The changes will also include enhancements to renewal information.  The individual renewal workflow was retooled to make the process more intuitive to individuals as well as allow the individual to authorize a criminal background check (CBC) and a credit report in conjunction with renewal.  The "do not renew" workflow was also updated to allow users to mark a license as "Do Not Renew" when they have not satisfied the education requirement."

A new Renewal Approved notification has been created for Federal MLOs and for Federal Institutions.