Trade Management Setup

Use the Trade Management Setup setting to manage the Trade Management module.

Trade Management Fields

Use the Trade Management Fields setting to create and edit options that display on the specified dropdown lists on the Details tabs for Security Trades, Loan Trades, Master Commitments, and Correspondent Trades. You can specify the options that are visible on the dropdown lists for Commitment Type, Trade Description, Security Type, and Security Term.

ClosedAdd an Option

  1. In one of the sections on the setting, click the Add icon and type a Description.

  2. For Security Type Field Values, you have the option of selecting a Program Type from the list and entering a range of months for the Term.

    • The values are populated in the corresponding fields for Security Trades and Loan Trades when the security type is selected from the dropdown list. If the fields are left blank in the setting, existing data in the loan field is not overwritten when the option is selected.

  3. When finished, click OK.

ClosedEdit an Option

  1. Select an option, and then click the Edit icon.

  2. Edit the option, and then click OK.

ClosedMove an Option

  • Select an option, and then click the Up and Down icons to reposition the option. The order of the options in the setting sets the order of the options on the dropdown list.

ClosedDelete an Option

  • Select an option, and then click the Delete icon.

Trade Management Tabs

Select the tabs to be displayed in the Trade Management module.

  • If Enable Security Trades, Loan Search, Loan Trades, and Master Contracts tab is selected, those tabs are enabled in the Trade Management module.

This is the default option.

  • If Enable MBS Pools tab is selected, the MBS Pools tab is enabled in the Trade Management module.

  • When you enable the MBS Pools (Mortgage Backed Security Pools) functionality, you can track MBS Pools and related fields and to carry those fields to the loan level.

  • If Enable Fannie Mae PE MBS Pool Type and GSE Commitments tab is selected, both the Fannie Mae PE MBS Pool type is enabled for MBS Pools and the GSE Commitments tab is enabled in the Trade Management module.

  • If Enable Correspondent Trades tab is selected, the Correspondent Trades tab is enabled in the Trade Management module.

  • If Allow Publish Event for Correspondent Trades is selected, the Last Published Date and Time column (if displayed) is populated on the Correspondent Trades View when a trade is published and enables "unpublished" trades to be filtered out from Encompass TPO Connect.
  • If Allow Best Efforts for Correspondent Trades is selected, the Best Efforts commitment type is enabled for correspondent trades.

  • If Enable Correspondent Masters tab and enforce Masters for all Delivery Types (Includes Auto-create for individual Delivery Types is selected, the Correspondent Masters tab is enabled in the Trade Management module.

  • To disable this setting, you must first remove all correspondent trades from correspondent master commitments.

  • If Enable Auto-create of Correspondent Trades for Individual Delivery Type is selected, Encompass will automatically create correspondent trades for all individually confirmed lock requests.

  • If Enable Correspondent Masters tab and enforce Masters for all Delivery Types (Includes Auto-create for individual Delivery Types is selected, then the setting is automatically selected and cannot be cleared.

  • If Enable Correspondent Masters tab and enforce Masters for all Delivery Types (Includes Auto-create for individual Delivery Types is not selected, then the setting is available to be selected or cleared.

  • When both Allow Best Efforts for Correspondent Trades and Enable Auto-create of Correspondent Trades for Individual Delivery Type are enabled, correspondent trades for both “Individual Best Efforts” and “Individual Mandatory” loans being locked can be created.
  • When Allow Best Efforts for Correspondent Trades is disabled and Enable Auto- create of Correspondent Trades for Individual Delivery Type is enabled, correspondent trades for “Individual Mandatory” loans being locked can be created, but correspondent trades for “Individual Best Efforts” loans being locked cannot be created.
  • When an individual loan is locked and a correspondent trade is auto-created:
  • The Commitment Type in the Correspondent Buy Side Lock and Pricing Summary column of the lock snapshot is populated with the Commitment Type in the lock request.
  • The Delivery Type in the Correspondent Buy Side Lock and Pricing Summary column of the lock snapshot is populated with the Delivery Type in the lock request.
  • If Enable Bid Tape Management is selected, the Bid Tape Management tab is enabled in the Trade Management module.
  • If Enable Bid Tape Registration is selected, the automated Bid Tape Registration process is enabled. New loan records will be generated based on the metadata provided for each loan on the Bid Tape and each loan will be assigned to the commitment number provided on the tape (data file).
  • If Enable TPO Trade Management is selected, the Trade Mgmt tab under External Company Setup Company Details is enabled.

  • If View Correspondent Trade is selected, TPO Connect users can view the correspondent trade pipeline, view correspondent trade details, and view assigned loans.

When Enable TPO Trade Management is selected, this setting is automatically selected.

  • If View Correspondent Master Commitment is selected, TPO Connect users can view the correspondent trade pipeline, view correspondent trade details, and view assigned loans.
  • If Loan Eligibility to Correspondent Trade is selected, TPO Connect users can find eligible loans (based on trade filters).
  • If EPPS Loan Program Eligibility/Pricing is selected, TPO Connect users can select EPPS loan programs, determine loan eligibility using EPPS loan programs, and obtain LLPA and SRP pricing from EPPS.

If EPPS is not selected as the product and pricing provider on the Product and Pricing setting (under Secondary Setup), this setting is disabled.

  • If Loan Assignment to Correspondent Trade is selected, TPO Connect users can assign loans to correspondent trades.

When Loan Eligibility to Correspondent Trade is selected, this setting is automatically selected.

  • If Loan Deletion from Correspondent Trade is selected, TPO Connect users can remove one or more loans from correspondent trades.

  • If none of the checkboxes are selected, a warning, indicating at least one Trade Management tab setting is required, is displayed.

Loan Data Synchronization

Save the mapping of Trades fields for synchronization with Loan Data fields for loan/correspondent trades and MBS pools so you do not need to set it each time loans are updated.

  • If Apply selections below to all updated loans is selected, when you click the Update Selected Loans/Update All Loans button on the Loans tab for a trade or pool, the Apply to All Loans checkbox will be selected in the Loan Data Synchronization pop-up window. Otherwise, the checkbox will not be selected.

  • If Start update immediately after selecting Update Loans is selected, the Loan Data Synchronization pop-up window will not be displayed when the Update Selected Loans/Update All Loans button on the Loans tab for a trade or pool is clicked and the trade or pool will automatically be placed in the Trade Update Queue. Otherwise, the pop-up window will be displayed.

The fields selected on the Loan Trades and MBS Pools tabs in this section will be displayed in the corresponding (trade or pool) Loan Data Synchronization pop-up window when the Update Selected Loans/Update All Loans button is clicked on the trade or pool’s Loans tab.

Auto Correspondent Trade Commitment Numbering

Select whether or not to have Encompass auto generate correspondent trade commitment numbers.

Each correspondent trade commitment number must be unique.

If the setting is enabled:

  • The trade commitment number has a maximum of 15 characters.

  • You can indicate a starting number. For example, if the starting number is 1500, when a correspondent trade (CT) is created, that commitment number will be 1500, the next will be 1502, the next will be 1503, and so on.

  • Once saved, you can edit the starting number. For example, if the original starting number is 1500, a CT is created with the commitment number of 1500, and then the starting number is changed to 1000, the next CT will have a commitment number of 1001, the next will be 1002, and so on.

If the starting number is changed, a warning, indicating the starting number will be applied to all new correspondent trades created, is displayed.

If the setting is not enabled, your users must manually enter a correspondent trade commitment number.

Auto Correspondent Master Commitment Numbering

Select whether or not to have Encompass auto generate correspondent master commitment numbers.

Each correspondent master commitment number must be unique.

If the setting is enabled:

  • The master commitment number has a maximum of 10 characters.

  • You can indicate a starting number. For example, if the starting number is 10001, when a correspondent master commitment (CMC) is created, that commitment number will be 10001, the next will be 10002, the next will be 10003, and so on.

  • Once saved, you can edit the starting number. For example, if the original starting number is 10001, a CMC is created with the commitment number of 10001, and then the starting number is changed to 9000, the next CMC will have a commitment number of 9001, the next will be 9002, and so on.

If the starting number is changed, a warning, indicating the starting number will be applied to all new correspondent masters created, is displayed.

If the setting is not enabled, your users must manually enter a correspondent master commitment number.

Fannie Mae Product Name Values

Use this section to manage the list of Fannie Mae loan products that will be available for users to select when viewing GSE Commitment details and Fannie Mae PE MBS Pool details in the Trades feature.

The product name cannot contain any commas.