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Encompass Features That Help Lenders Better Their Workflow

Picture of Suzanne Krause

Partnering with a world class technology provider like ICE Mortgage Technologies Encompass platform is a great first step towards a strong loan origination workflow. The battle isn't won yet though: At this point, it's vital to deliver on the digital capabilities your technology and workforce expect.

While today's mortgage lenders highly value high value technology partners, they equally prioritize an automated, faster workflow. From what we have seen, most lenders aren't taking advantage of automated service ordering or workflow automations. More and more, loan officers will seek this functionality - augmented by their assistants - as fast, seamless loan manufacturing processes become more common in the mortgage space.
As an Encompass administrator, how can you deliver on your organization's automation expectations while infusing a scalable, sustainable solutions in the process? By leveraging the right features, you can drive a loan manufacturing process that combines automated, lightning fast workflows with world class technology. This approach will help you meet the automation needs of the next-gen of loan origination while ensuring a lender-centric approach for which your tech is known.
When it comes to loan origination systems, many options exist in the marketplace, but not all are created equal. Here, it's key for mortgage lenders to carefully consider implementations offered by technology partners. The goal is to ensure the solution you choose has innovative functionality that meets the needs of your origination staff while letting your business take advantage of next-gen technology.

Benefits of Automation

  • Save Time

  • Reduce Errors

  • Decrease Cost

  • Improve Profitability

  • Increase Consistency

  • Increase Scalability

  • Improve Fraud Detection

Specifically, to cater to automation and workflow trends, features you may want to pursue include:

Automated Service Ordering

Automate traditionally manual tasks and help your staff save time across the loan origination process by saying goodbye to manual ordering of AUS and Flood. Can we say Dual AUS anyone?

"Using our new automated service ordering capabilities, lenders can also re-submit loan data to both AUS engines to confirm final eligibility with each GSE."

Read more here: https://www.icemortgagetechnology.com/blog/say-goodbye-to-manual-service-ordering

Automated Workflows

Encompass introduced an automation engine in 21.2 that allowed system administrators to configure rules that create or complete tasks based on events that occur within the loan. This allows for automation of entire tasks or processes (like ordering disclosures) instead of just single elements that field triggers could previously provide.

"This allows customers to automate a substantial part of their workflow, as well as manage whatever they choose not to automate with an exception-based process."

Read more here: https://www.icemortgagetechnology.com/blog/drive-automation-across-your-workflow-introducing-task-based-workflow

Automated Advanced Conditioning

Encompass Introduced advanced conditions that allow more features then old conditions. Adding tracking capabilities and allowing to actually automate conditions without a plugin or a button press is the next generation of condition management.
Implementing advanced conditions can seem like a daunting task, but Encompass offers support for all of their clients. They even offer a self study course here.

Web Connect

Some of the features and functionality that are admins need to build out the future of Encompass Technology are housed in WebConnect. From the settings menu in the Encompass Client, the landing page contains a link to WebConnect.
If you want to stand out from your competitions and build technology with a lender-centric approach for these automations, you'll need to invest in both admin support and leading industry talent. Providing expert knowledgebases in both of these areas will be key to changing the way you close loans.

For more information on how we can help you with your Encompass Features, please contact us!

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