Optimal Blue: Community Seconds
Over the weekend Optimal Blue released an update to help better price loans with Community Seconds. If a loan has a community second down payment it does not have CLTV pricing hits (assuming the whole second lien is from the community second). Prior to this release you were required to remove the second lien information when pricing a loan with a community second. With this release a drop-down selection is now present when a second lien loan amount is pulled in from encompass. If you are utilizing a community second down payment you will want to change the highlighted drop down below from “No” to “Yes” to view correct pricing.
Within Encompass please make sure that you have the Community Seconds check box marked on the FNMA Streamlined 1003 as Secondary will be checking this to make sure that the drop down wasn’t selected in error.
Please email secondary@vandykmortgage.com should you have any questions