November 19, 2018 Update

This document details the complete list of updates and changes made to TOTAL released with the November 19, 2018 update.

Document 6385  |  Last updated:  11/19/2018 MJY

SmartExchange

  • The source "Typed" will now be used when creating a new report (with Merge, Save As, or copy) from a signed report containing peer data.
  • Undo now correctly reverts the source of data for a comparable.

General

  • Some areas of improvement have been spotted and addressed in order to help make the Comps Database run smoother.

Forms

  • The Amrock Property Data Review and Property Data Review Completion Report forms have been added.
  • The required Extraordinary Items and Assumptions Addenda has been added to the Canadian Drive‑by and Desktop forms so they don't have to be added separately.
  • The Estimated Remaining Economic Life will automatically be calculated based on the Effective Age of the property in all FHA and VA reports.
  • The Project Name and Phase Number will transfer from the subject to the sales grid and back on the Condo forms. A warning will be thrown if they differ on either page.
  • The Floor Number field in the Unit Description section of a Condo form will transfer to the Sales Comparison Approach and back.
  • The following features have been added to the Small‑Income Form (1025):
  • Check multiple property types under General Description.
  • Choose between actual or market rent when entering data into the Gross Monthly Rent field.
  • Calculate the total number of Units automatically when you enter data in the Unit Breakdown fields.
  • Toggle between the GLA vs. GBA if they differ by entering the Unit #1 GLA field on Page 1.

E&O

  • New warnings have been added to all Fannie Forms (except if otherwise stated). These warning will be generated if you have:
    • Inconsistent data on the 1004UAD and 2055UAD between the subject basement fields on pages 1 and 2.
    • No date entered for the Date of Sale/Time field on the 1004C.
    • Neighborhood Low/High Price more than the lowest and highest reported Sales Price in the Sales Comparison on all Fannie Forms.
    • The VA checkbox marked but the Estimated Remaining Economic Life is blank or if the Estimated Remaining Economic Life is negative.
    • A sales comparable missing that is either below or above the Market Value of Opinion (Bracketing).
    • HOA check for both 'per year' and 'per month'.
    • Car Storage indicated but Assigned or Owned not checked.
    • Highest and Best use marked Yes but no comment has been entered. (This was added due to popular demand)
    • If the Owner of Public Record and Borrower as the same on a Purchase Transaction.
    • If 'Currently offered for sale' is marked no on a Purchase Transaction.
  • When you insert a comp automatically using SmartAddress, you'll no longer be prompted with a warning about the address not being standardized.
  • For FHA reports, a hard stop will no longer be generated saying Bathroom count must be greater than or equal to 1.
  • Clarified which field in the Contract section contains data, if the report is marked 'Refinance' or 'Other', instead of a general warning on FHA reports.

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