Encompass Credit Reissue - Soft Pulls for Xactus/Avantus and CoreLogic

Date Available: Available now in beta and production

Which customers are impacted?: Any customer who reissues credit in Encompass NextGen, and who uses Xactus/Avantus or CoreLogic as their credit providers may opt in. 

Required?: No, opt-in.

How to turn on: This will not be automatically enabled for our customers. If you’d like to take advantage of this functionality, please email support@blend.com.

Purpose of Update and Benefit:
For customers using Xactus/Avantus and CoreLogic credit providers, credit reissue in Encompass would not work if a soft credit pull was performed for the borrower(s) on the loan file. With this update, Blend will add an identifier in the MISMO that will indicate the pull type for the most recent credit pull. Enabling this feature will allow customers to reissue credit in Encompass when the most recent pull type is soft and the credit provider is Xactus/Avantus or CoreLogic. 

Current Behavior:
Credit cannot be reissued from Encompass for any loan where a soft credit was pulled from Xactus/Avantus or CoreLogic. Attempts to reissue credit in Encompass would fail.

New Behavior:
If enabled, this change will add a new extension to the MISMO file: MESSAGE/DEAL_SETS/DEAL_SET/DEALS/DEAL/PARTIES/PARTY/ROLES/ROLE/BORROWER/BORROWER_DETAIL/EXTENSION/OTHER/blend:BORROWER_DETAIL/EXTENSION/OTHER/BORROWER_DETAIL/MostRecentCreditPullType. If the most recent credit pull is a soft pull, that value will be set to SOFT. 

Additionally, if the provider is either Xactus/Avantus or CoreLogic, the reportType that is used with reissue requests in Encompass will be set to Prequal (Xactus/Avantus) or PreApproval (CoreLogic). 

Both of these changes together will ensure that credit can be reissued in Encompass.

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