October 29: Release Notes

October 29,  2018

Meghan Devine

The following items were released October 29:

Bright MLS listing number format now includes a 4-letter state/county abbreviation.

Based on your feedback, Bright MLS listing numbers now include state and county abbreviations, allowing you to quickly identify the location of a listing from its MLS number. This change only applies to new listings that are entered in Bright, and do not affect the MLS number of any of your existing listings.

Please note: If you create a new listing and change the county and/or state afterward, a new listing number will be generated along with the state/county code.

Learn more about this change here.

System fixes and other updates have been made to Financial Calculators.

System fixes:

  • Collapsed sections on the Buyer Closing Costs and Seller Net Sheet have been adjusted to remain open so that all fields are filled out.
  • Missing values for Transfer Tax are now mapped for all Maryland towns.
  • Deed and Mortgage Recording Fees are now populating correctly based on the area you select.

Financial Calculators:

We updated fees, tax schedules, loan limits, and rates for the Washington, D.C. and Virginia areas as well as added new fields where appropriate. The following areas have been updated:

  • Recording Fees
  • Property Tax Schedule
  • Buyer Reimbursements
  • BCC Lender Escrows
  • SNS credits to the seller
  • Title Insurance Rates
  • FHA Loan Limits
  • Recordation/Transfer Tax
  • VA Deed of Trust Tax - New field indicating a tax against the mortgage amount of the sale at 0.333%
  • VA Transportation WMATA fee - New field on the SNS indicating a fee Northern Virginia sellers pay at settlement

Tax Record Updated date field added to listing summaries.

We have added a Tax Record Updated date field to clearly identify the last time a listing’s public records information was updated.

Real Estate Owned has been renamed REO (Real Estate Owned).

You are now able to easily search and identify the Real Estate Owned field using its REO abbreviation. Real Estate Owned Y/N has been renamed REO (Real Estate Owned) Y/N. The change has also been reflected in the picklist option under Sale Type.

Electric Service is now an optional field; Election District no longer required for Frederick County, MD.

We are making several updates that reduce the number of required fields. Electric Service is no longer required for you to publish a listing. We have also removed the requirement that all listings in Frederick County must specify an Election District.

Other miscellaneous bug fixes and performance improvements.