Part of the Loan Workspace, the Action Panel contains the forms and tools you need to process a loan, as well as services you can order through ePASS.
A notification that indicates an event has occurred, is pending, or is due. Alert information displays on the Pipeline and, depending on the type of alert, in the Log and worksheets. Common alerts are: rate lock expiration, milestone, general log entry follow-up, and conversation log follow-up.
Tool that displays detailed information (e.g., principle, interest, and balance) for the life of the loan.
Tool used to view and export a history of changes made to selected fields in the loan file.
Your borrowers or potential borrowers stored in the Contacts Manager.
Tool used to calculate the total fee to be paid to the broker.
Vendors or partners with whom you do business; these contacts are automatically added to the Rolodex when you save them to the Contacts Manager.
Rules set up by the Encompass Administrator to define access to loan files and specific
loan fields. These rules can, for example, limit the loans that can be moved into a folder.
Used to create and manage marketing campaigns to drive the acquisition of new leads or to maintain continuous communication with existing borrower and business contacts.
Tool used to provide a summary of the amount of cash needed from the borrower to close the loan. Values are derived from the GFE Itemization form.
Tool used to manage the co-mortgagers and co-borrowers associated with a loan.
Tool used to order basic risk assessments and detailed compliance reports.
Tool used to create and track the underwriting conditions for a loan file.
Tool used to review attached documents and compare them with data in the loan file.
A group of selected contacts. These groups enable you to manage your borrower and business contacts and facilitates adding or removing them from a campaign.
Used to track interactions with the borrower, service providers, and other contacts related to the loan.
Used by loan team members to monitor and manage your business. It's divided into five display areas that display a snapshot of the current status of loans in the Pipeline, Pipeline performance trends, purchase to refinance trends, and selected loan team member activity summaries.
Tool used with a refinanced loan to consolidate a prospective borrower's liabilities and optimize the potential monthly savings.
A group of disclosure documents you can create and send to your borrowers. There are two types: Basic (free of charge; documents based on the selected Fannie Mae or Freddie Mac plan code) and Premium (available with Ellie Mae Document Services account; documents based on the selected investor plan code, loan-specific information, and the information provided when you sign-up with Document Services).
Encompass feature used to manage all electronic loan documents (using EDM).
Use EDM to access and manage the electronic documents associated with a loan. All EDM activities are initiated from the eFolder, including ordering and retrieving settlement services, requesting and receiving required documents, and archiving and retrieving loan documents.
A component of the Encompass application that users run when they are in a networked environment. The client "talks to" the Encompass Server to exchange information with the Encompass Database.
Used to send instant messages to other users who are logged in to Encompass.
A component of the Encompass application that contains the Encompass database, typically hosted on a central server. It exchanges data with the Encompass Client over the network (or over the Internet if the Encompass Server is running on an IIS web server).
Offers from Encompass lenders and service providers that are tailored to the features and characteristics of each loan.
A transaction platform that allows you to order services and connect to online service providers from directly within Encompass.
You can use the Event Viewer to monitor Encompass events as they occur and select the type of events you want recorded in the log.
Tool containing the contacts and service providers associated with a loan.
Displays debits (funds coming into a transaction) and credits (funds flowing out of the transaction)
Tool used to record information related to the disbursement of the loan funds and to calculate the amount of the wire transfer.
Tool used to view and manage interim loan payments and escrow disbursements.
Accessible on the Contacts tab, it is used to register with real-time lead providers and import leads directly into the Contacts Manager.
Encompass features that require a current license to use: Campaign Management, Compliance Reports,
Contact Synchronization,
Electronic Document Management,
Homeowner Leads,
Status Online, and
Reporting Database.
Tool used with prospective borrowers to compare the qualifying ratios and requirements of up to three loan programs with a borrower's ratios and qualifying data.
Tool used to create an unlimited number of loan fields to meet the specific requirements of your business.
Any person who fulfills a role during the processing of a loan.
When you originate a loan or open an existing loan, the Loan Workspace opens. The Workspace contains three areas: the Log, the Action Panel, and the Work Area. It is the focal point for tracking, managing, and carrying out loan activities.
Form used to submit a rate lock request to the lock desk.
Part of the Loan Workspace, the Log communicates historical, current, and future loan-related activities and events. Log entries show completed and future milestones, email and phone communications, reminders of required actions (Alerts), document tracking details, and general notations.
An entry made to the log. Key entry types include: Milestone, Conversation Log, Document Tracking, General Log Entries, Status Online Update, Documents Requested, and Fax Received. When you add or select an existing entry, a worksheet opens in the Work Area. The worksheet contains detailed information corresponding to the type of entry selected.
Used to view the Encompass message log and set the number of messages you want saved to the log.
Module used to record and track contracts for the delivery of bulk loans. The module tracks key information such as the amount of the contract, the number and value of the trades that have been applied, percent completion, and the total gain/loss.
A step in the loan workflow that defines loan tasks and the role that carries out those tasks. When tasks are completed, the milestone is marked as "Finished" and work begins on the next milestone.
Used to record activities and the completion tasks associated with each milestone.
When you order a service, you will enter login information for the selected service provider. For some service providers, you can use the Password Manager to store this information and automate the login process.
Each user in your organization is assigned a one or more personas which represent job functions. Each persona defines access to functions, forms, and tools in Encompass. It's possible to assign multiple personas to a user who performs multiple roles in your organization, such as loan officer (LO) and loan processor (LP).
Loan that is closed at the same time as a primary (or 1st) loan. Also referred to as a concurrent, 80/10/10, or 80/20 loans.
When you log on to Encompass, your Pipeline opens, listing all of your current loans. From the Pipeline you can originate a loan, view loan summaries and details, open, search for, move, delete, download, upload, import, and transfer a loan, duplicate a loan or duplicate a loan for a 2nd, check loan alerts, log a communication, or export a loan to Fannie Mae DU.
During the Closing process, you can use the Plan Code feature to select a loan program that will be applied to the closing documents.
Tool used to create and track the post-closing conditions for a loan file.
Used with prospective borrowers to compare the qualifying ratios and requirements of different loan programs with borrower ratios.
Tool used to calculate the gross profit, commissions, and the net profit of a completed loan.
Tool used to determine your gain (or loss) from the loan transaction and to reconcile payments expected from the investor against payments received by the lender.
Tool used with prospective borrowers to determine if owning a home is beneficial when compared with renting.
Members of defined User Groups can be granted access to these public resources: Standard Print Forms, Custom Print Forms, Print Form Groups, Public Business Contact Groups, Borrower Custom Letters, Business Custom Letters, Reports, and Campaign Templates
Roles are shipped with Encompass and assigned to loan team members based on their responsibilities during loan processing. The default roles are: Loan Officer (LO), Loan Opener (OP), Loan Processor (LP), Underwriter (UW), and Closer (CL).
Encompass tool used to add business contacts to loan forms, as well as to the Default Providers and File Contacts tool. Adding a contact from the Rolodex ensures consistent, complete, and accurate contact information is added to the loan file.
Tool used to receive rate lock requests, enter investor details and pricing information, and lock the loan rate.
Tool used to securely send loan forms to the borrower and other appropriate individuals.
Encompass licenses paid for by the user, separate from licenses purchased by the company.
Tool used to record information related to the shipping, delivery, and storage of loan documents.
Tool used to publish loan status updates to a secure website (the Loan Center or WebCenter) for viewing by your borrowers and partners. You can also use this tool to customize the update information for each loan.
From the Contacts tab, the Tasks List lists all loan-related tasks (such as following-up on a home inspection or requesting a credit report). Tasks can include the status, subject, creation time, and due date.
You can create templates of default data for frequently-used loan scenarios and information. You can also apply one of these predefined template sets when you start a new loan: Loan Programs, Closing Costs, Document Sets, Input From Sets, and Data Templates.
Encompass module used to create, manage, and track bulk loan trades.
Tool used to record payments from and receipts into the trust account established for the loan.
Tool used to assemble the key information needed to determine the creditworthiness of the borrower, the value of the subject property, and if the loan should be approved.
A group of Encompass users who have the same level of access to loan and contact data. User Groups are created using the User Groups tool.
The Encompass Administrator sets up a user profile for each user in your organization. The profile contains: name and contact information, User ID and password, loan officer licensing information, assigned personas, Pipeline view, working folder view,
and access-level to loan files
A website that connects directly to Encompass. Leads and loan applications that borrowers submit from this website flow directly to Encompass. Document requests and loan status updates can be sent to your borrowers via the website as well. You can also use your website to market your company to borrowers and realtors.
Part of the Loan Workspace, the Work Area displays worksheets, forms, and tools based on selections made in the Log or Action Panel. Use the Work Area to enter data and update loan information.