1.What vendor and LPS are you using/will you be using? Compliance One Mortgage
2.Have you received any updates (beta or other) for testing? Yes
3.Have you started "kicking the tires" to see how the system will work? Yes, got our first ARM done yesterday. Not impressed as there are still issues, but glad we were finally able to get an ARM example.
4.Is the vendor confident it will deliver a finished product in time? They are more confident then we are.
5.How confident are you that the system will be ready in time to allow for setting up parameters and training? Hopeful. We also have Encompass, so we hope one or the other will work.
6.Will the LPS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? Yes
7.Is the vendor receptive to feedback and willing to work with you? Yes, but we get shipped around.

1. What vendor and LPS are you using/will you be using? LaserPro
2. Have you received any updates (beta or other) for testing? They have done several downloads, however, the final download will not be until June 30th
3. Have you started "kicking the tires" to see how the system will work? I have tested it a little, but not having the final download makes it difficult to get the real sense of how it will work.
4. Is the vendor confident it will deliver a finished product in time? Yes, but June 30th is cutting it close for testing time.
5. How confident are you that the system will be ready in time to allow for setting up parameters and training? I have my reservations that the vendor will be able to accompany all of the banks they service with making sure things are set up properly.
6. Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? It's supposed to
7. Is the vendor receptive to feedback and willing to work with you? Our representative is very good about getting back with me when I have a question, so I feel this will not be an issue.
8. Other feedback or concerns? My biggest concern is even with as much training as we can handle, there will be mistakes made simply because LO's don't take this as seriously as loan administration and the CFPB will hammer down with no leniency.

Hi, my name is Dana, and I'm a lurker!

1.What vendor and LOS are you using/will you be using? ComplianceOne
2.Have you received any updates (beta or other) for testing? Yes
3.Have you started "kicking the tires" to see how the system will work? A little - but not enough!
4.Is the vendor confident it will deliver a finished product in time? They appear to be
5.How confident are you that the system will be ready in time to allow for setting up parameters and training? Pretty confident.
6.Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? Yes
7.Is the vendor receptive to feedback and willing to work with you? Yes.
8.Other feedback or concerns? Originally they were not sure if they would support 12 mo int only bridge loans, but they now have a target date of July for this, so that's good. We make a lot of these! Also, we occasionally will make a loan secured by real estate and other collateral, but I guess this won't be an option. The new software seems to limit the types of loans we are able to make to strictly mortgage products.

Ditto.

I'll say ditto to MonicaMc's answers. We use Calyx Point and DocuTech for secondary production, which is about all we do. We have just received the Calyx update and the installation was requested for this week. Working on this will be the primary task in the weeks ahead.

We do also have W-K Compliance One Mortgage for the very rare in-house products that will be covered. That was delivered earlier as indicated by others but testing has not been completed. I'm more worried about getting assistance from them than from Calyx and DocuTech, but that is based on previous experiences and not this topic specifically.

So it will be close, but we're not yet feeling hopeless. Calyx and DocuTech have been responsive and good to work with so far.

Ditto.

danaken, you should be okay with this:

real estate and other collateral

There are entry points for other collateral, UCC's, assignments of L&R, etc.

RR and Danaken - that ability is supposed to be in the July release.

Am using Laser Pro. Reading a FAQ from D/H dated 04-21-2015 and it states that there is a final release due June 30, 2015. Is that time for training? NO! Is that time for testing? NO! YES, I am in panic mode, but (selfishly) glad to see that others are also in (semi) panic modes!

1. What vendor and LOS are you using/will you be using? Using WK ComplianceOne Lending will be using ComplianceOne MTG
2. Have you received any updates (beta or other) for testing? YES. Have both a TEST and PRODUCTION platform setup. The TEST is more complete as PRODUCTION will have to have last minute changes needed.
3. Have you started "kicking the tires" to see how the system will work? Yes but only in a limited amount. Feeling way behind the curve on testing.
4. Is the vendor confident it will deliver a finished product in time? Yes
5. How confident are you that the system will be ready in time to allow for setting up parameters and training? I believe the WK C1 MTG system will be ready to produce the required transactions. I do not feel confident that we will have all the settings, defaults, fees, policies, and templates recreated in time.
6. Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? Yes
7. Is the vendor receptive to feedback and willing to work with you? Yes. WK has done a really good job of posting webinars, free online tutorials, help sheets, and Voice of Customer conference calls. I do feel the Customer Support Line is overwhelmed at WK. You call and need to be prepared to be on hold for a very long time.
8. Other feedback or concerns? The CFPB has failed to understand that the software being released is only a small portion of the puzzle. Many of our software platforms are completely changing with no ability to transfer policies, fee setups, templates, or defaults. The setups, policies, and templates that we have today have been developed and adjusted for years based on audit/examination results, operational needs, etc. You don’t just load the software and flip a switch.

1.What vendor and LOS are you using/will you be using? Calyx and LaserPro
2.Have you received any updates (beta or other) for testing? Calyx first release this week, system updated last night, ready to start testing. LaserPro provided final release, still in test mode.
3.Have you started "kicking the tires" to see how the system will work? Yes, but very preliminary. Only the comparison to current forms and that field information is populating okay at this point.
4.Is the vendor confident it will deliver a finished product in time? Yes, but have doubts a good final release will be complete after industry tests.
5.How confident are you that the system will be ready in time to allow for setting up parameters and training? Not confident, as this is a very busy time for all associates, including working around vacations
6.Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? Yes.
7.Is the vendor receptive to feedback and willing to work with you? Yes, generally always has been in the past.
8.Other feedback or concerns? Really worried, not enough time to test, make changes, release new versions, update systems, test again, etc. and then do it all over again before August 1. The initial release needed to be much earlier.

The bank I work for has not received any software from Compliance One yet. Still waiting.

I think you may need your admin/IT or someone to contact...there will be no change to C-1 Lending...you have no choice but to buy in to C-1 Mortgage...someone has likely dropped a lead ball, Welsh.

I agree with RR Joker

1.What vendor and LOS are you using/will you be using? Calyx Point
2.Have you received any updates (beta or other) for testing? Yes, just this week.
3.Have you started "kicking the tires" to see how the system will work? Yes, setting up test files for different loan products - have found a few issues so far
4.Is the vendor confident it will deliver a finished product in time? Spoke to a tech support person who admitted they are still in a learning process as well so it will take time to get all the bugs worked out
5.How confident are you that the system will be ready in time to allow for setting up parameters and training? Should be enough time, as long as they take care of the issues we find along the way
6.Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? yes
7.Is the vendor receptive to feedback and willing to work with you? Yes, the tech support person I spoke with was very helpful & took interest in the questions I had for her. The answers she didn't have, she sent on up the chain of command & I am waiting on a response...
8.Other feedback or concerns? Not today.

BeechFlyboy:

Did you get 15.1 already from Ellie Mae or do you have some double secret test version? We don't have an Encompass update yet and I'm scared....very scared. There is a hands on training session scheduled but it's in July.

1.What vendor and LOS are you using/will you be using? Ellie Mae - Encompass
2.Have you received any updates (beta or other) for testing? Yes, we have the testing enviroment for a few weeks already. The final update should be done on June 13th.
3.Have you started "kicking the tires" to see how the system will work? Yes - it already incorporate alerts for disclosing, including the e-consent.
4.Is the vendor confident it will deliver a finished product in time? yes, as always in the past
5.How confident are you that the system will be ready in time to allow for setting up parameters and training? We hope to finish the testing by the end of June, and the training before July 15th ( yes, we are very optimistic)
6.Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? yes, as they did with the 2010 RESPA changes
7.Is the vendor receptive to feedback and willing to work with you? Yes, very receptive
8.Other feedback or concerns?
Encompass had been very ahead of the game, and had provided training and workshops to their clients.

we have the double secret test version. We already did the test, and it seems works pretty well, although there are some functionalities and alerts that are not fully working yet. They are aware of them.

1.What vendor and LOS are you using/will you be using? - LASER PRO
2.Have you received any updates (beta or other) for testing? YES
3.Have you started "kicking the tires" to see how the system will work? NOT YET
4.Is the vendor confident it will deliver a finished product in time? THEY SEEM TO BE
5.How confident are you that the system will work. WON'T KNOW UNTIL WE GET THE FINAL UPDATE ON JUNE 30.
6.Will the LOS allow you to comply with both current rules for applications received before 8/1/15 and new rules for applications received after 7/31/15? IT'S SUPPOSED TO
7.Is the vendor receptive to feedback and willing to work with you? THEY USUALLY ARE.
8.Other feedback or concerns? SEMI PANIC MODE AS THERE IS NOT ENOUGH TIME TO KICK ALL THE TIRES.

Thanks for the help, NIW.

Your confidence will help me get some rest.

We have found a great solution for preparing Loan Estimate and Closing Disclosures with ppdocs.com. The web based service allows you to currently test and see how the system works. And the folks at ppdocs have been very receptive of our feedback and questions. Its also priced great for us, a small community bank with low loan origination. We plan to use ppdocs solution starting August 1.

We're like most responding here that use Laser Pro and Encompass. The question of whether the training and platforms will be ready is just unknown. Summer vacations just starting also!

Ditto for us as well - and I'm more than a little nervous since the last round of regulatory changes did not go too smoothly with Fiserv.

+1 for all the LaserPro user responses to date.