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VENTURES
7(a) Lenders - Subsidy Recoupment Fee Now Available
A new Subsidy Recoupment Fee field has been added throughout the servicing workflow. The fee is now surfaced in payoff estimates, payment processing, web templates, transaction imports, API transactions, and reporting so it can be tracked and collected consistently end to end. You can add it to your web templates if you'd like to include it in letters or statements.
We added an ability to set a default payoff letter at the Loan Type level that will override what is set as a general default. We also added a payoff letter that includes the Subsidy Recoupment Fee field (Payments: Payoff Letter (7(a) with Subsidy Recoupment Fee)). So, if you want to add a 7(a)-specific payoff letter just to your 7(a) products, you can.
Flood Zone Fields Added to Web Templates
Web Templates now include Flood Zone fields when collateral is the data source. Flood-related collateral information can be captured and displayed alongside other collateral data.
Project Property Address and Purpose Are Now Optional
Purpose and Project Property Address are now optional fields when creating or editing Commercial Category loans. This removes friction for commercial deals where those details are not yet known.
Added "Other" Tax Transcript Provider Option
For those who don't use Tax Guard as their tax transcript provider, we have an option to fill in 8821 forms with other provider information instead of the form being pre-filled with Tax Guard information.
