Collateral Tracking Tool

Collateral Tracking Tool

The Collateral Tracking tool tracks and captures dates and information for the Final Docs (Recorded Deed of Trust (DOT)/Mortgage and the original/paper copy of the Final Title Policy). The dates include the request(s) and receipt of the two Final Docs and the dates when the Final Docs are sent to the investor or document custodian. Additional information such as the document custodian name and address, shipping/tracking information, and county recording information (DOT/Mortgage) can also be entered.

To Access the Collateral Tracking Tool:

  1. From a loan, select the Tools tab.

  2. On the left panel, select Collateral Tracking.

OR

On the menu bar, click Tools, and then select Collateral Tracking.

Note or Purchase Date

The Note or Purchase Date displayed will depend on the Channel (field ID 2626) on the Borrower Summary - Origination screen.

  • If the Channel is “Correspondent”, the Purchase Date (field ID 3567) from the Correspondent Purchase Advice Form is displayed.

  • If the Channel is “Banked-Retail” or “Banked-Wholesale”, the Document Date (field ID L770) from the Closing RegZ is displayed.

  • If the Channel is blank, the channel from the Loans with no channel selected will be treated as field on the Channel Options settings screen (Encompass > Settings > Loan Setup > Channel Options) is used to determine the Note or Purchase Date.

  • If there is no value in the Loans with no channel selected will be treated as field, the Note or Purchase Date field is blank.

Next Follow-up Date

The Next Follow-up Date displayed is the Note or Purchase Date plus the value from the Initial Request Trigger Days on the Collateral Tracking settings screen (Encompass > Settings > Business Rules > Collateral Tracking).

If the Next Follow-up date falls on a weekend or holiday, it is moved back to the prior business day. The selected lock desk calendar on the Lock Desk Calendar tab (Encompass > Settings > Secondary Setup > Lock Desk Setup) is used to determine holidays.

Days Outstanding

  • If the Note or Purchase Date is blank, the Days Outstanding is also blank.

  • If the Received Date is blank and there is a Note or Purchase Date, then the Days Outstanding displayed is the current date minus Note or Purchase Date.

  • If the Received Date is not blank, then the Days Outstanding displayed is the Received Date minus Note or Purchase Date.

DOT/Mortgage Tab

Use this tab to capture initial request, shipping status, and return request information for the DOT/Mortgage.

Initial Requests

Use this tab to track request(s) for the DOT/Mortgage and when documents are received.

ClosedTo Add an Initial Request for a Document

  1. Click the Add Request button.

    If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  2. The DOT/Mortgage checkbox is automatically selected. You can select the Final Title Policy checkbox, if available.

    If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  3. The Requested Date is automatically populated with the current date, but can be edited.

  4. The Requested By, Organization, and Contact fields are automatically populated as follows, but can be edited.

    • If the Channel is “Correspondent”, the fields are populated with the TPO information.

    • If the Channel is “not “Correspondent”, the fields are populated with the escrow company information.

    • If the Address Book icon is selected, the fields are populated with the business contact information.

  5. Select the method used to make the initial request and enter the relevant information

  6. Enter comments, as needed.

    Note: The maximum character limit is 500.

  7. Click OK.

  8. The corresponding fields on the Initial Requests tab are populated from the Add Initial Request pop-up window.

ClosedTo Add the Initial Receipt of a Document

  1. Click the Add Receipt button.

    If DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  2. The DOT/Mortgage checkbox is automatically selected. You can select the Final Title Policy checkbox, if available.

    If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  3. The Received Date is automatically populated with the current date, but can be edited.

  4. The Received By is automatically populated, but can be edited.

  5. Complete the remaining fields, as needed.

  6. Enter comments, as needed.

    Note: The maximum character limit is 500.

  7. Click OK.

  8. The corresponding fields on the Initial Requests tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Scheduled Shipments

If you have Scheduled Shipments enabled on the Collateral Tracking Business Rules screen (Encompass>Settings>Business Rules>Collateral Tracking), you can schedule a document shipment at the same time you receive Final Docs. The shipment can be scheduled via the Add Initial Receipt pop-up window after the Initial Receipt information has been added.

ClosedTo Add a Scheduled Shipment

  1. Click the Add Receipt button.

  2. Select a Shipping Date.

  3. Select a Preferred Carrier.

    Note: The order in which the preferred carriers are listed can be edited on the Collateral Tracking Business Rules screen.

  4. Enter a Tracking #.

  5. Enter an Organization or click the Address Book icon to select one.

  6. Enter a Contact. If the Address Book icon is selected, the Contact is populated, if available.

  7. Enter an Address. If the Address Book icon is selected, the Address is populated, if available.

  8. Complete the remaining fields, as needed.

  9. Enter comments, as needed.

    Note: The maximum character limit is 500.

  10. Click OK.

  11. The corresponding fields on the Shipping Status tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Shipping Status

Use this tab to track the shipping of the DOT/Mortgage to the investor or document custodian. If a scheduled shipment has been added, that data automatically populates the Add Shipment pop-up window.

ClosedTo Add a Shipment

  1. Click the Add Shipment button.

    Note: If the DOT/Mortgage has already shipped, you will be asked whether you want to override existing information.

  2. The DOT/Mortgage checkbox is automatically selected. You can select the Final Title Policy checkbox, if available.

    Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  3. The Shipping Date is automatically populated with the current date, but can be edited.

  4. The Shipped By is automatically populated, but can be edited.

  5. Select a Preferred Carrier.

    Note: The order in which the preferred carriers are listed can be edited on the Collateral Tracking Business Rules screen.

  6. Enter a Tracking #.

  7. Enter an Organization or click the Address Book icon to select one.

  8. Enter a Contact. If the Address Book icon is selected, the Contact is populated, if available.

  9. Enter an Address. If the Address Book icon is selected, the Address is populated, if available.

  10. Complete the remaining fields, as needed.

  11. Enter comments, as needed.

    Note: The maximum character limit is 500.

  12. Click OK.

  13. The corresponding fields on the Shipping Status tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Return Requests

Use this tab to track requests from the document custodian or other 3rd parties and when documents are received.

ClosedTo Add a Return Request for a Document

  1. Click the Add Request button.

    Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  2. The DOT/Mortgage checkbox is automatically selected. You can select the Final Title Policy checkbox, if available.

    Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  3. The Requested Date is automatically populated with the current date, but can be edited.

  4. The Requested By, Organization, and Contact fields are automatically populated, but can be edited.

  5. Select the method used to make the return request and enter the relevant information.

  6. Enter comments, as needed.

    Note: The maximum character limit is 500.

  7. Click OK.

  8. The corresponding fields on the Return Requests tab are populated from the Add Return Request pop-up window.

ClosedTo Add the Return Receipt of a Document

  1. Click the Add Receipt button.

Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  1. The DOT/Mortgage checkbox is automatically selected. You can select the Final Title Policy checkbox, if available.

Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  1. The Received Date is automatically populated with the current date, but can be edited.

  2. The Received By is automatically populated, but can be edited.

  3. Enter comments, as needed.

Note: The maximum character limit is 500.

  1. Click OK.

  2. The corresponding fields on the Initial Requests tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Final Title Policy Tab

Use this tab to capture initial request, shipping status, and return request information for the Final Title Policy.

Initial Requests

Use this tab to track request(s) for the Final Title Policy and when documents are received.

ClosedTo Add an Initial Request for a Document

  1. Click the Add Request button.

Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  1. The Final Title Policy checkbox is automatically selected. You can select the DOT/Mortgage checkbox, if available.

Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  1. The Requested Date is automatically populated with the current date, but can be edited.
  2. The Requested By, Organization, and Contact fields are automatically populated as follows, but can be edited.
  • If the Channel is “Correspondent”, the fields are populated with the TPO information.
  • If the Channel is “not “Correspondent”, the fields are populated with the escrow company information.
  • If the Address Book icon is used, the fields are populated with the business contact information.
  1. Select the method used to make the initial request and enter the relevant information
  2. Enter comments, as needed.

Note: The maximum character limit is 500.

  1. Click OK.
  2. The corresponding fields on the Initial Requests tab are populated from the Add Initial Request pop-up window.

ClosedTo Add the Initial Receipt of a Document

  1. Click the Add Receipt button.

Note: If Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  1. The Final Title Policy checkbox is automatically selected. You can select the DOT/Mortgage checkbox, if available.

Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  1. The Received Date is automatically populated with the current date, but can be edited.
  2. The Received By is automatically populated, but can be edited.
  3. Enter comments, as needed.

Note: The maximum character limit is 500.

  1. Click OK.
  2. The corresponding fields on the Initial Requests tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Scheduled Shipments

If you have Scheduled Shipments enabled on the Collateral Tracking Business Rules screen (Encompass>Settings>Business Rules>Collateral Tracking), you can schedule a document shipment at the same time you receive Final Docs. The shipment can be scheduled via the Add Initial Receipt pop-up window after the Initial Receipt information has been added.

ClosedTo Add a Scheduled Shipment

  1. Click the Add Receipt button.

  2. Select a Shipping Date.

  3. Select a Preferred Carrier.

    Note: The order in which the preferred carriers are listed can be edited on the Collateral Tracking Business Rules screen.

  4. Enter a Tracking #.

  5. Enter an Organization or click the Address Book icon to select one.

  6. Enter a Contact. If the Address Book icon is selected, the Contact is populated, if available.

  7. Enter an Address. If the Address Book icon is selected, the Address is populated, if available.

  8. Complete the remaining fields, as needed.

  9. Enter comments, as needed.

    Note: The maximum character limit is 500.

  10. Click OK.
  11. The corresponding fields on the Shipping Status tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Shipping Status

Use this tab to track the shipping of the Final Title Policy to the investor or document custodian. If a scheduled shipment has been added, that data automatically populates the Add Shipment pop-up window.

ClosedTo Add a Shipment

  1. Click the Add Shipment button.

    Note: If the Final Title Policy has already shipped, you will be asked whether you want to override existing information.

  2. The Final Title Policy checkbox is automatically selected. You can select the DOT/Mortgage checkbox, if available.

    Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  3. The Shipping Date is automatically populated with the current date, but can be edited.

  4. The Shipped By is automatically populated, but can be edited.

  5. Select a Preferred Carrier.

    Note: The order in which the preferred carriers are listed can be edited on the Collateral Tracking Business Rules screen.

  6. Enter a Tracking #.

  7. Enter an Organization or click the Address Book icon to select one.

  8. Enter a Contact. If the Address Book icon is selected, the Contact is populated, if available.

  9. Enter an Address. If the Address Book icon is selected, the Address is populated, if available.

  10. Complete the remaining fields, as needed.

  11. Enter comments, as needed.

    Note: The maximum character limit is 500.

  12. Click OK.

  13. The corresponding fields on the Shipping Status tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Return Requests

Use this tab to track requests from the document custodian or other 3rd parties and when documents are received.

ClosedTo Add a Return Request for a Document

  1. Click the Add Request button.

Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  1. The Final Title Policy checkbox is automatically selected. You can select the DOT/Mortgage checkbox, if available.

Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  1. The Requested Date is automatically populated with the current date, but can be edited.
  2. The Requested By, Organization, and Contact fields are automatically populated, but can be edited.
  3. Select the method used to make the return request and enter the relevant information.
  4. Enter comments, as needed.

Note: The maximum character limit is 500.

  1. Click OK.
  2. The corresponding fields on the Return Requests tab are populated from the Add Return Request pop-up window.

ClosedTo Add the Return Receipt of a Document

  1. Click the Add Receipt button.

    Note: If the Final Title Policy has already been received, you will be asked whether you want to override the existing information.

  2. The Final Title Policy checkbox is automatically selected. You can select the DOT/Mortgage checkbox, if available.

    Note: If the DOT/Mortgage has already been received, you will be asked whether you want to override the existing information.

  3. The Received Date is automatically populated with the current date, but can be edited.

  4. The Received By is automatically populated, but can be edited.

  5. Enter comments, as needed.

    Note: The maximum character limit is 500.

  6. Click OK.

  7. The corresponding fields on the Initial Requests tab are populated from the Add Initial Receipt pop-up window, but can be edited.

Tracking History

Use this section to see each Final Docs request, receipt, or shipment. Double-click on an entry to see the details of the transaction.

Comments

Use this section to view the comments associated with the Final Docs.

ClosedTo Add a Comment

  1. Click Add Comment to enter a comment.
  2. Enter your comment.

Note: The maximum character limit is 500.

  1. Click OK.