Spend Less Time and Money Closing Loans

The traditional loan process is infamous for manual data entry and very little collaboration–characteristics that lead to overall loan quality issues, fraud and defects and, eventually, buy-backs or lawsuits. Without common review processes and loan file standards, suspense conditions can result in huge delays, driving costs up and affecting your productivity. And with laws and regulations becoming increasingly stringent, it’s only going to get worse.

High-quality loans, from start to finish

Ellie Mae’s Total Quality Loan™ (TQL) program is a best-practice workflow for originating all residential mortgage loans, ensuring a high level of quality, compliance and efficiency throughout the loan lifecycle.

Integrated within Encompass®, the TQL program leverages best-of-breed services to automate processes, and applies quality checks throughout the mortgage lifecycle to reduce resource costs and operational friction, resulting in more profitable loans with fewer suspense conditions.

  • Gain important compliance visibility, down to the Loan Officer level. Use reporting and dashboards to identify trends and communicate expectations across your organization.

  • Create error-free loans from start to finish. Identify compliance, income and fraud issues early in the origination process, and correct defects before the loan is offered for sale.
  • Provide compliance controls, documentation and proof. Avoid fines and loan buy-backs with automatic compliance checks throughout the loan’s lifecycle.
  • Shorten processing and underwriting time with workflow efficiencies. Increase your productivity with integrated services–all within Encompass.
  • Reduce suspense conditions and decrease time on the warehouse line. Reduce time on the lines from 7-10 days to just 2-3 days, and reduce suspended files by 7.
  • Ensure consistency and collaboration. Eliminate the need for re-ordering reports by ensuring the investor and seller are working off the same information.
Tackle ATR/QM with confidence

The Encompass TQL program provides you with the tools necessary to easily demonstrate controls, quality tracking and proof of compliance with Ability-to-Repay and Qualified Mortgage (ATR/QM):

  • Central repository for all data, proof of verification and documentation.
  • Additional quality validations for services.
  • The ability to export proof of ATR/QM to investors and for audit purposes.
  • Vendor management.
What services are included?

Encompass Compliance Service™ provides automated compliance checks, such as ATR/QM, HOEPA, HMDA, FHA, TILA and NMLS licensing early and often during the loan lifecycle to uncover any compliance concerns.
Encompass 4506-T Service™ income verification enables you to order tax return data from the IRS electronically and receive reports in as few as 24 hours.
Encompass Fraud Service™ assesses and evaluates early payment default, loss severity risk, fraud detection scoring and data alerts.
Encompass Flood Service™ validates a property’s flood zone and helps speed the loan process with electronic order and secure transfer of flood risk products.

 

What Our Clients Say

"Sometimes problems take five or six days to fix in post-closing, when you could have fixed it in five minutes up front if you knew about it. Encompass gives us the visibility we need to identify problems early, so in the end, there’s really nothing to do but close the loan."
AJ Franchi
Chief Information Officer,
Gold Star Mortgage Financial Group

In the News

October 20, 2014
Ellie Mae Achieves Major Milestone with 100,000 Active Encompass Users READ MORE »
October 13, 2014
Ellie Mae Named to HousingWire HW FAST50™ READ MORE »