Product and Pricing
This feature is currently not supported in Encompass Broker Edition.
Use the Product and Pricing service to search for best fit program and pricing information. Loan information is passed directly from Encompass to the selected search provider, who then returns a list of loan programs for which your loan is prequalified.
You must have an account with the provider before you can request a search. Follow steps 1 and 2 below, and then click the More info link to open the provider's storefront or sign up for an account.
To Search for Product and Pricing Options:
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Open a loan and click the Services tab.
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Click the Search Product and Pricing button.
The Product and Pricing button is available on the Borrower Summary form and the Contacts tab for each borrower contact.
- If the Re-Lock Enablement and Auto-Lock settings are in effect and a user attempts to price a loan via EPPS using this button, an error message, "The pricing request violates your administrative settings and cannot be processed." is displayed.
This error message was introduced in the Encompass 19.1 release.
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On the Product and Pricing window, select a provider, and then click Submit.
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On the Product and Pricing Request window, enter User Login Information, select a Request Type, click Submit, and then follow the provider's instructions.
Work with Search Results
When you submit a product and pricing search request, the provider returns a list of programs, rates, and prices matching the loan details. After selecting a program/rate/price combination, follow the provider’s instructions to update the loan file with the selected product. You can update your loan in Encompass with data from a selected loan program, or submit the loan directly to a lender who is an electronic service provider.
Work with Encompass Product and Pricing Service Search Results
When you submit a request for a rate lock to the Encompass Product and Pricing Service (EPPS), rate lock information is returned into the related rate lock fields in the Encompass loan file.
When you submit a request for a rate lock to the Encompass Product and Pricing Service (EPPS), rate lock information is returned into the related rate lock fields in the Encompass loan file, and one or more documents with product and pricing information are imported into the Encompass eFolder.
Note: Your administrator must configure settings in EPPS and Encompass to authorize specified users to return and view the summary documents. For detailed instructions, view the "Configure Access to EPPS Summary Documents" Quick Reference Guide.
Return Rate Lock Information from EPPS