Encompass Compliance Service: Loan Level Compliance Reviews in the Age of TRID
(aka TRID, aka Know Before You Owe) is real, so it’s vitally important
to ensure all compliance tests and reviews are performed at the loan
level to check for TRID compliance. Encompass's built in compliance
engine, Encompass Compliance Service™, powered by Mavent®, simplifies the process. You likely already have this solution – now’s the time to utilize its many features.
Encompass Compliance Service automatically reviews and alerts you to:
Timing Rules, which make sure your timing in sending disclosures to
your borrowers falls within the TRID guidelines, including:
Loan Estimate Mailed/Delivered Within Three Business Days of Application
Loan Estimate Mailed/Delivered At Least Seven Business Days Before Consummation
List of Settlement Service Providers Timing and Delivery Date Rules
Loan Estimate Disclosure Date on or after Closing Disclosure Date
Closing Disclosure and Consummation Date
Disclosure Calculation Tests to help make sure the calculations adhere to TRID requirements, including:
Projected Payments Table Calculation and Validation Rules
Variance Tests to ensure the fees disclosed to the borrower were
disclosed in good faith, along with an indication that the variance will
need to be corrected if the fees increase above allowable tolerances.
addition to TRID, Encompass Compliance Service automatically performs
more than 370 federal, state and local consumer protection compliance
reviews early and throughout every phase of the mortgage lifecycle.
Ellie Mae’s in-house team of compliance attorneys and product compliance
experts monitor the regulatory landscape for regular updates and
For more information, please contact your Ellie Mae Account Manager.
ELLIE MAE EXPERIENCE 2016 USER CONFERENCE
Product and Pricing: Thousands of Guidelines at Your Fingertips, Coming Soon in Encompass
Ellie Mae curates a vast, comprehensive, accurately maintained online
library of thousands of government guidelines and forms. In early
November AllRegs Market Clarity guidelines will be accessible from
Encompass Product & Pricing Service™
with the click of a button. You will also have access to Market
Clarity’s detailed product summaries and investor bulletins, all from
within Encompass Product and Pricing Service.
The AllRegs by Ellie Mae®
guideline library consists of thousands of pages of government and
conventional lending guidelines – including Fannie Mae, Freddie Mac,
MPF, FHA, RHS, VA, MIs, GNMA, Approved Projects, Federal Compliance,
CalPERS, and State Compliance Guidelines – in a comprehensive,
searchable online database. Accurately maintained, and loaded with a
variety of easy-to-use features, you’re assured of fast, reliable
answers when you need them.
invaluable business intelligence tool for upstream investors and
correspondent lenders, AllRegs Market Clarity helps you manage risk and
identify market opportunity while giving you the tools to establish and
maintain a competitive edge. And it saves you time. A searchable
solution for comparing up-to-date product, investor, and overlay
information, Market Clarity can help you find in minutes what used to
Contact your account manager to learn more.
Image Manager for Encompass Docs Solution: Load Your Logo
Manager, a component of Encompass Docs Solution, allows you to upload
your company logo onto to the header section of the Loan Estimate forms.
It’s simple. Here’s how.
1. Click the Browse button and select your logo file. Once uploaded, a thumbnail of your logo will appear.
2. Click the thumbnail for a preview of the how the will look on the loan estimate.
3. Click Submit to save your logo.
Take advantage of this new feature – your personalized form will help drive your brand and build your customers’ confidence.
Contact your account manager to learn more.
RESPA-TILA: Ease the Pain with FAQs – and Answers – from Ellie Mae Authored by the Ellie Mae®
team of compliance experts, this online resource pulls together key
RESPA-TILA questions and delivers clear, concise answers that can help
you better understand and more effectively get through this learning
phase with minimal grief. It’s direct and comprehensive – and it’s
February 29 – March 2, Ellie Mae Experience 2016 will bring together an
entire community of mortgage industry professionals dedicated to
learning, growing, and sharing. Registration is open. And if you sign up
now, you’ll get the $300 early bird registration discount.
Nominations for the Ellie Mae Hall of Fame are also open.
with us, connect with your peers, connect with your technology, connect
with the entire experience – visit the Experience website to:
a look at the educational opportunities – six role-focused user tracks
combining for a total of 24 interactive learning sessions
Nominate your innovative company for an Ellie Mae Hall of Fame Award
Register in time for the early bird discount
You’ll also get details on expanded learning opportunities, keynote speakers, networking opportunities and more.
states, 50 sets of regulations – it can be overwhelming. Understanding
what’s important in the ones where you do business is essential, and
getting your answers straight from the regulators themselves is
outstanding, so we made it happen.
year regulators from across the country gather at the American
Association of Residential Mortgage Regulators (AARMR) Annual Conference
to discuss our industry and answer questions related to the regulations
they’ve authored and put in place. And every year we put together a
list of your most pressing questions.
LoanSafe Fraud Manager Now Live in TQL and Encompass Fraud Service
CoreLogic® LoanSafe Fraud Manager™ is now available in Encompass Fraud Service™, a core component of the Ellie Mae Total Quality Loan™ (TQL™)
program. This means you can choose the report that fits your business
need – LoanSafe Fraud Manager or LoanSafe Risk Manager – or bundle them
to leverage the power of both.
Fraud Manager is an industry-leading fraud detection tool that employs
patented, pattern-recognition fraud scoring and unmatched consortium and
data alerts. LoanSafe Risk Manager provides lenders and investors with
predictive collateral and fraud risk scores and alerts.
Fraud Service provides comprehensive, easy-to-review analysis of
property and surrounding market data, as well as a collateral or
non-collateral report so you can quickly determine the level of risk
involved. It is fully integrated into Encompass and available via the
TQL Services screen.
November we will be hosting a product overview webinar showcasing the
power and efficiency that Encompass Fraud Service delivers and going
over how it works. Look for that invitation soon.
Contact your Account Manager to learn more.
ELLIE MAE UPDATE
We Are Elevating Your CRM: Ellie Mae to Acquire Mortgage Returns
On October 14, 2015, Ellie Mae®
announced that we signed a definitive agreement to acquire Mortgage
Returns, a leader in on-demand customer relationship management (CRM),
and marketing automation solutions for the mortgage industry.
Returns provides a database-driven automated marketing solution to help
mortgage originators maximize profitability from clients, prospects and
referral partners. Through the TRUE CRM® system, Mortgage Returns enables compliant and automated one-to-one marketing that delivers bottom-line results.
We made this move to immediately bolster our Encompass® CRM offering and accelerate your ability to:
•Create and convert leads in a purchase-centric market
•Generate more loan volume/repeat business
•Keep data accurate and easily audited under a single system of record
Returns and their TRUE CRM are already integrated in Encompass. Now
we’ll be taking big steps and working to expand that integration to make
it increasingly seamless.
Contact your account manager to learn more.
Are You an Encompass Superhero? Show Us.
Share your Encompass®
Super Power. Tell us how you achieve super compliance, super efficiency
and super profitability, and we’ll give you the chance to win an
all-expenses paid trip to Experience 2016 at the Wynn Hotel in Las
leveraging your power, you’ve maximized Encompass to take charge of
compliance, boost efficiencies, and become super-profitable. Share your
story and be entered to win. It’s worth it – the Experience trip is
valued at $3,750, and complimentary registration is included.
Ellie Mae Origination Insights: September Credit Scores Fall, Refi Volume Up
scores on closed loans fell to their lowest level since Ellie Mae began
reporting data in August 2011, according to our latest Origination Insight Report.
The average FICO score on all closed loans fell to 723. Credit
availability on refinances appears to have increased in Q3 of 2015 as
the overall average FICO and DTI have loosened materially from Q2 of
credit scores declined to the lowest levels we’ve seen since 2011,”
said Jonathan Corr, president and CEO of Ellie Mae. “We are also seeing
rates fall while the time to close is also decreasing. It will be
interesting to see if these trends continue as we begin to see impacts
Banc Home Loans added to Encompass Product and Pricing Service
Product & Pricing Service continues to expand its range of loan
opportunities with the recent addition of Banc Home Loans (BHL).
Correspondent Lending Division of BHL, a division of Banc of California
N.A. (NYSE: BANC), provides delegated and non-delegated correspondent
customers with exceptional service and a full range of lending products,
supported by the resources of a $6.5 billion, Tier One bank.
helps customers grow their business with 48-hour underwriting turn
times, immediate responses to loan scenarios, minimal overlays to all
Agency guidelines (i.e., to 500 FICO on VA; 580 FICO on FHA) and 100%
financing from Banc of California’s Warehouse Lending division.
also offers a comprehensive Renovation Lending solution for FHA 203Ks
and FNMA HomeStyle, as well as an expansive non-agency Jumbo Loan
offering (to $5M; $1M cash-out, to 660 FICO, $85LTV no MI to $2M, and
To learn more about BHL, contact Larry Maitlin at firstname.lastname@example.org.
Certified Credit Reporting Now Available in Encompass
Credit Reporting (CCR) is a privately held, nationwide credit reporting
firm serving the mortgage industry since 1984. In addition to credit
services, CCR now offers flood services from directly within Encompass.
With their innovative product offerings, creative pricing strategies
and technological efficiencies, CC's customer-first focus has
earned a stellar reputation by delivering accurate and timely reports
and services seamlessly through Encompass. In addition, CCR’s excellent
customer service goes beyond just the basics.
FCRA trained staff is knowledgeable, cross-trained and highly skilled.
The company has an uncompromising commitment to compliance, and is
vendor under a Section 342 Vendor, which mandates supplier
diversity in the financial sector.
emerging markets, such as Millennials, First-time Homebuyers, and the
growing diverse ethnic demographic, CCR is able to help you attract and
serve these unique markets with innovative products that anticipate
opportunities and respond to regulations – and are continually being
improved to help you do your job better.
Contact your Account Manager to learn more about Certified Credit Reporting's Encompass integration.