4506C Service

To sign-up for Encompass 4506-C Service powered by CoreLogic, contact your ICE MT Client Success Manager. Follow the steps listed below to start the service, after you have signed up with ICE IMT.

1. On the menu bar, click Encompass, and then click Settings.
2. On the left panel, click Additional Services, and then click 4506C Service.

If you have not signed up for the service, detailed instructions will be displayed. Contact your ICE MT Client Success Manager to enable the service for your instance.

3. To narrow the list of users, select a persona from the list or type all or part of a user's name in the Enter Name field, and then click Search.
   • Click Clear to clear the search criteria.
4. Select a checkbox to grant access to a user, or select or clear the checkbox at the top of the column to grant or deny access to all your users.

After you change the user selections, you can click the Restore icon to return to your previously saved user configuration.

5. In the QC Alert Level Setup section, select one of the options to configure the level of quality control alerts that users will receive regarding issues that arise when an order is submitted:
   • Full QC - Full QC is run against the 4506-C order. Alerts are triggered when any issues are identified. This is the default setting.
   • Medium QC - QC is run for essential categories. Alerts are sent when information required to process the report is missing.
   • No QC - No QC is run on the 4506-C order. Requests are sent to the IRS regardless of any issues on the 4506-C form.

After you select an option, the types of alerts that users will receive are listed in the QC Alerts section.

6. In the Configuration Options section, select an Income Variance Tolerance percentage to include when ordering transcripts. This is the allowable difference between the tax information in the loan file and the 4506-C transcript.
7. If there is a possibility that you will publish the loan to an investor, select the Investor-Specific Rules checkbox to automatically apply the investor's rules to Request for Transcript of Tax forms.

Selecting this checkbox automatically enters 1040 and selects option c(Record of Account) on line 6, and sets the end dates for the Year or period requested on line 9 to 12/31 for the previous two years. Also, investors may have different requirements. Please check with your investor for their requirements.

8. Select the Default CoreLogic information for section 5 checkbox to automatically populated section 5 of the Request for Transcript of Tax input form with data for CoreLogic (the company that provides 4506-C services through the ICE Mortgage Technology Network) when a user creates a loan.
   • The company name of the Encompass user populates in the First Name field.
   • The Encompass user's mailbox number at CoreLogic populates in the Last Name field.
   • The CoreLogic address populates in the remaining fields.

When a new loan is added to Encompass by duplicating or importing a loan file, existing Section 5 data is not overwritten with CoreLogic data.

9. In the Transcript Configuration Options section, select options to configure page numbering and PDF file organization of the 4506-C reports.
   • In the Custom Page Numbering section, select an option from the dropdown list to configure how pages are numbered in the file containing your 4506-C reports.
   • In the Multi-Year Reports section, select options to create a single 4506-C report or multiple reports (one for each year) in PDF format.
   • Select the Add transcripts to Verification Timeline screen automatically after ordering checkbox to display ordered 4506-C transcripts in the Income Verification Timeline panel of the Verification and Documentation Tracking Tool.
10. When finished, click the Save icon.
11. To start the service, click the Start Service button.
12. After you start the service, you can click the Stop Service button at any time to stop the service.
    • When you stop the service, your settings are saved and will be applied the next time you start the service.

To receive your DataVerify login credentials, contact sales@dataverify.com or call 1-866-895-3282. For more information, go to the DataVerify Contact Us page.

1. On the menu bar, click Encompass, and then click Settings.
2. On the left panel, click Additional Services, and then click 4506C Service.
3. On the 4506C Service panel, click the DataVerify tab.
4. In the Enabled Users panel, select the users who will authorize to use Fraud Service from the TQL Services tool:
   • To narrow the list of users, select a persona from the list or type all or part of a user's name in the Enter Name field, and then click Search.
   • Click Clear to clear the search criteria.
   • Select a checkbox to grant access to a user, or select or clear the checkbox at the top of the column to grant or deny access to all your users.

After you change the user selections, you can click the Restore icon to return to your previously saved user configuration.

5. In the Transcript Configuration Options section, select the Add transcripts to Verification Timeline screen automatically after ordering checkbox to display ordered 4506-C transcripts in the Income Verification Timeline panel of the Verification and Documentation Tracking Tool.
6. When finished, click the Save icon.
7. To start the service, click the Start Service button.
8. After you start the service, you can click the Stop Service button at any time to stop the service.
   • When you stop the service, your settings are saved and will be applied the next time you start the service.