Updating linked REO liability amounts

Available: Beta 08/23, Prod 09/20

How to turn on:

This feature will automatically be turned on for all customers on the dates listed above.

Purpose of Update and Benefit:

This feature changes the behavior of the monthly payment and unpaid balance amounts for any REO liabilities added to the loan. In the past, updates to either of these amounts within the “Monthly Debts” screen would only be reflected in that screen and would not update in the UI of the loan application. Now, any changes to these values in the Monthly Debts screen for any linked liabilities will be reflected in the loan application.

This should apply to both manually linked liabilities on the lender app as well as any auto-linked liabilities that we match on the borrower app flow. When liabilities are linked and updated on the liability page, the REO MISMO values OwnedPropertyLienInstallmentAmount and OwnedPropertyLienUPBAmount will update to reflect the new values. The HousingExpensePaymentAmount value for present housing expenses will also update. 

Current Behavior:

Making edits to the Monthly Payment and Unpaid Balance fields for any linked liability in the Monthly Debt page for any borrower would only remain in that screen. It would not carry over to the corresponding fields in the REO section of the lender application. 

New Behavior:

Making changes to the Monthly Payment and Unpaid Balance fields to any linked liability in the Liabilities section of the Monthly Debt page will be reflected in the corresponding fields in the lender application. This will apply to all linked liabilities for all borrowers on the loan, regardless of whether they were manually or automatically linked. 

When these amounts are updated in the liabilities section, the REO MISMO values OwnedPropertyLienInstallmentAmount and OwnedPropertyLienUPBAmount will update to reflect the new liabilities. The HousingExpensePaymentAmount value for present housing expenses will also update.

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