We are very excited to announce that a new update to the Mortgage Coach platform was released last night!
What’s new with the latest Mortgage Coach release? Some great new features, a few bug fixes, and some cool modifications based on your feedback.
Mortgage Coach Editor
- The Company Name displayed on presentations in the browser will no longer be all caps.
- Capitalization will display as input in the “Company Name” field found in Settings/Contact Info.
- Revised image storing protocols to allow for larger images. Provides clearer logos and headshots for all users.
- Simply re-upload your logo or headshot and you’ll notice clearer images on your presentations.
- Increased payment note field to allow for up to 1000 characters.
- Increases the amount of detail you can document for your borrower. Uses a different font to differentiate for compliance reasons.
- Added new functionality for 2018 tax benefit calculations:
- Added Standard Deduction field to TCA so when entered, the tax benefit will show the greater of either the standard deduction or the mortgage deduction.
- Added field to ask for filing status of borrower to determine cap of deductible interest per tax year. This field will show up only after you have entered a tax bracket in the Affordability screen.
- Added checkbox to determine whether to apply the property tax to the benefit calculation. ($10k per year limit). This checkbox will only show up if you have entered monthly property tax.
- Added refinance logic to allow for $1M deductibility cap on grandfathered loans from before 12/16/17
- Added question on all refinances to indicate whether to use cash out for Renovation. Checking yes will include the entire refi amount. Checking no will include only the payoff amount in deductions.
Client Management System (Admin portal):
- Added ability to create Loan Product templates at the branch level. Expands the use of templates from fee-only templates to also include product templates by branch.
- Revised image storing protocols to allow for larger images. Provides clearer logos and headshots for all users. Simply re-upload your logo or headshot and you’ll notice clearer images on your presentations.
- The Install Now link in the browser version of RateWatch now points to the Windows 10 store to allow you to install the latest version.
To see a video walkthrough on the new 2018 Tax Benefit, click here: