The following global data integrity check message displays from ConformX for non-IRRRL VA refinances when Previous Loan Total of All Remaining P&I + MI (FI 131834) is empty or set to $0:
Field 131834 Previous Loan Total of All Remaining P&I + MI must be disclosed on non-IRRRL VA refinance comparison form. Please enter the total remaining payments of Principal, Interest, and Mortgage Insurance for the loan being refinanced. If you are unable to do this within your Loan Origination System, please create a task. Include the loan number and the value to map for Field 131834. For assistance please contact Client Support at {Display Phone Number}
The above data integrity check is a warning in Redisclosure packages and an error in Initial Disclosure and Closing Disclosure packages. The checks will only trigger when the indicator Enable VA Refinance Data Integrity Checks (System Default, FI 121985) is not set to “No”.
Previous Loan Total of All Remaining P&I + MI prints on the VA Non-IRRRL Refinance Comparison Certification (Cx22999) in the “Existing Loan” column for the row titled “Total of the Remaining Scheduled Payments”. However, some borrowers do not have an existing outstanding loan they are refinancing, and therefore Previous Loan Total of All Remaining P&I + MI does not need to be populated.
Another condition has been added to these data integrity checks so this message will only display when Previous Loan Payoff Amount (FI 131864) has a value greater than $0. Previous Loan Payoff Amount (FI 131864) prints on the VA Non-IRRRL Refinance Comparison Certification in the “Existing Loan” column for the row titled “Loan Balance”. This way Previous Loan Total of All Remaining P&I + MI will only be required when there is Previous Loan Payoff Amount.
These data integrity check changes are on Stage 1 and Stage 2 servers for testing. These changes will be in effect on ConformX Production August 5, 2023. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
T3S-9317
The preceding is for informational purposes only and is not and may not be construed as legal advice. No third party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.