NewsFLASH

EXCLUSIVELY FOR ELLIE MAE CLIENTS USING
ENCOMPASS
SEPTEMBER 2015
ENCOMPASS UPDATE
Encompass Title & Closing Center: RESPA-TILA Updates and Enhancements Are Live
RESPA-TILA means that your interaction with Title and Closing agents are more critical than ever, so our extensive Encompass® RESPA-TILA readiness program includes powerful enhancements to the Encompass Title & Closing Center™. This final release is live and ready to help you:
  • Request fee quotes before ordering a full title report
  • Receive accurate third-party costs directly from participating title agents
  • Seamlessly transfer costs directly to the 2015 Itemization
We’ve added 250 new title and recording fields, including new fees as well as borrower and transaction details. And we enhanced the Title Center’s current fee reconciliation workflow to meet the new RESPA-TILA 2015 requirements

Since 2010, the Encompass Title & Closing Center™ has been leveraged by thousands of Encompass users for an efficient and secure way to order and receive title and closing fees, as well as documents directly into Encompass. And now it’s fine-tuned for RESPA-TILA.

Visit the Encompass Title & Closing Center now
ELLIE MAE EXPERIENCE 2016 USER CONFERENCE
MBA Annual: Come See Us and Connect With What’s New
Be sure to connect with us at MBA's Annual Convention & Expo 2015. We’ll be in San Diego October 18-21, 2015 for the country's largest gathering of real estate finance industry leaders. Come by our newly designed exhibit booth and get real answers and information about our latest Encompass® and AllRegs® solutions – including what we’ve done to make you RESPA-TILA ready.
Ellie Mae Experience 2016:  Registration is Open, Early Bird Discount Is Live
Connect with us, connect with your peers, connect with your technology – registration is now open for Ellie Mae® Experience 2016. Join 2,000 mortgage leaders to build your network, grow your business and expand your expertise. Sign up today and save $300.

You’ll have 24 strategic and interactive breakout sessions to choose from in these five user tracks:
  • Compliance: Effectiveness and Efficiencies Explored
  • Operations: The Loan Lifecycle
  • Technical: Tech Insight and Solutions Roadmap
  • Sales & Marketing: Engaging Today's Borrowers
  • Executive: C-Level Strategic Insights
This in-depth learning isn’t all you’ll get. You’ll hear from powerful, thought-provoking speakers – including basketball great Magic Johnson. You’ll also connect with your peers and our team. And, if you register before December 15, you’ll save $300.
INDUSTRY INSIGHTS
Ellie Mae Origination Insights: Credit Scores Fall, Closing Rates Stay High
Credit scores on closed loans fell to their lowest level since February of 2014, according to the latest Ellie Mae® Origination Insight Report. The average FICO score on all closed loans reached 724, while average FICO scores on closed FHA refinances and purchases held steady at 660 and 689 respectively.

Additionally, over 66% of all loan applications closed for the second straight month, remaining at the highest level since we began tracking this data in August 2011. The closing rate on purchase loans remained above 70%.
PARTNER CORNER 
Encompass and CoesterVMS: Seamless, Hassle Free Appraisal Ordering
Directly integrated with Encompass®, CoesterVMS Direct provides you a comprehensive appraisal management solution without sacrificing conveniences. Access to CoesterVMS Direct is available through the Encompass Service Tab.

CoesterVMS is a nationwide appraisal management company providing the best in innovative technology and expert service. By pairing the completely customizable Cloud Control System with experienced service personnel, CoesterVMS provides a compliant, service-oriented valuation solution.

The integration ensures accuracy in order placement by populating Encompass loan data directly to the order form and allows users to associate multiple users to keep applicable parties current on status updates. With the comprehensive pipeline management feature, you can access, monitor, and update all appraisal orders through their profile in the pipeline screen. 

Coester's interface also provides access to CoesterVMS's Appraisal Intelligent Review (AIR) system, offering processing and underwriting staff a suite of tools (including CU Data and a manageable checklist) for documenting the review process. The sync option transfers critical appraisal data, such as appraiser name and room count, directly to the Encompass loan file. You can also easily manage your eFolder with the Document Sync feature that contains a built-in duplicate prevention system.

CoesterVMS offers Encompass users:

Service
  • National appraisal management company
  • Dedicated account managers
  • Service staff possessing mortgage industry experience
  • RESPA-TILA-compliant fee calculator
  • Market- and product-based panel management assistance

Quality

  • Artificial Intelligent Review (AIR) process
  • Clear "Left-Right" decision making for underwriters based on regulatory guidelines and investor overlays
  • Market-specific commentary based on expansive appraisal database
  • Oversight by certified appraisers

Demos are available upon request, and members of the CoesterVMS team will be available to connect with you in person at Ellie Mae Experience 2016. Please e-mail Sales@coestervms.com.

RESPA-TILA RESOURCES
EVENTS
USER INSIGHTS
Does Encompass Make You Feel Super? Show Us and You Could Win a Super Trip!
You know how to leverage your power and maximize Encompass to take charge of compliance and boost efficiencies. You are an Encompass Superhero. You are super-profitable and can leap tall buildings in a single bound. You have unleashed the Super Power of One.

Share your story. Tell us how Encompass has helped 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 Vegas, Nevada. The trip is valued at $3,750 and complimentary registration is included.

How? First we need to see the hero you are.

RESPA-TILA: It’s Real, It’s Here. Are You Ready?
The beast is breathing down our necks – RESPA-TILA is just days away. In less than a week, this Jurassic-sized regulatory prospect becomes a reality. Be ready – get your questions answered, learn how to wrangle the beast, and find out how others are doing it.
RESPA-TILA Online FAQs – New Additions complete the Series
The RESPA-TILA FAQs series is now complete, with a comprehensive range of questions and in-depth answers. Authored by the Ellie Mae® team of compliance experts, this online resource delivers clear, concise answers that will help you better understand and more effectively prepare for the new rules. Easily searchable, you can get right to the answers you need – for example:
  • When do the disclosures begin? For what transactions?
  • Is there a penalty for providing both the current and new disclosures post October 3?
  • If the transaction has a mortgage broker, who should provide the Loan Estimate?
  • When do I need to provide a Closing Disclosure to a consumer? When do they need to receive it?
RESPA-TILA Video Tutorials – Simple, Clear, Smart
Leverage our RESPA-TILA video tutorials. You’ll get some key knowledge points you’ll need to tame this Tyrannosaurus Rex of regulation. They’re quick – 2-3 minutes – and can help you understand:
  • The new 2015 Disclosure Tracking Tool
  • The Importance of eSign Consent
  • The new 2015 Itemization Form
  • The Changes to the RegZ Screens
  • The new Loan Estimate Form
  • The new Closing Disclosure Form
Case Study – Ellie Mae RESPA-TILA Prep Works
Leveraging Ellie Mae® RESPA-TILA training tools sounds like a great idea, but do they work? Hear from someone who maximized our tools to prepare for RESPA-TILA and was ready to go months ago.

“We were actually disappointed when the deadline was pushed back because we had worked so hard and were ready,” Josh Byrom, Director, Loan Origination
System at Prosperity Home Mortgage said. “We were ready because we had the early start from Ellie Mae and had adapted our operations.”

Josh was part of our preparation – a member of our RESPA-TILA Working Committee that fine-tuned Encompass® so it would be RESPA-TILA ready. Learn what Josh did to prepare – and how he leveraged Encompass to do it.
Encompass Product and Pricing Service: New Features, More Investors
Encompass Product and Pricing Service™ just got better with the addition of new functionality – historical pricing and auto lock – as well as a new investor.

Historical pricing lets you easily view pertinent archived loan information in the event of borrower credit, appraisal, purchase price, or other changes to the locked information. Auto lock automates the loan lifecycle in Encompass and auto confirms the lock so no manual intervention is needed.

And – in addition to these big feature upgrades – Banc Home Loans products are now available in Encompass Product and Pricing Service.

We’ve added a video to the Resource Center that overviews the new features. Watch it now and
contact your account manager to learn how to leverage the updated Encompass Product and Pricing Service to bring additional quality and efficiency to your loan process.

Webinar: Get Dialed In with the Latest Encompass 15.1 Updates
The Encompass 15.1 Release was a big upgrade, and the recent hot updates have added even more to it.

Join us on September 24 for an overview webinar covering the two recent Encompass hot updates (15.1.4.5 and 15.1.4.6) and the included RESPA-TILA functionality and enhancements, including:
  • New forms and tools
  • Disclosure Tracking updates
  • Encompass Document Management updates
  • Updates to the Title & Closing Center

We’ll also provide powerful tips to help you get the most out of these latest Encompass improvements.

When:

  • Thursday, September 24, 2015
  • 11:00 AM Pacific/2:00 PM Eastern
  • 60 minutes

 
Ellie Mae Speakers:

  • John Haring, Director, Compliance Enablement
  • Rich Feinberg, Director, Product Management
TQL and Encompass Fraud Service: New Feature Gives Customers Choice, Elevates Loan Quality
Encompass Fraud Service will soon be launching Corelogic’s LoanSafe Fraud Manager in addition to LoanSafe Risk Manager, giving your business options for what fits your needs.

A core component of TQL™ – Ellie Mae’s Total Quality Loan program – Encompass 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. Encompass Fraud Service is fully integrated into Encompass and available via the TQL Services screen.  When you leverage Encompass Fraud Services through TQL, your reports are pulled directly into Encompass and fields are automatically populated with key data.

And the addition of LoanSafe Fraud Manager from CoreLogic® will make Encompass Fraud Service even better. LoanSafe Fraud Manager™ is an easy-to-use fraud report and mitigation solution that accurately identifies mortgage fraud risk. LoanSafe Risk Manager™ provides a comprehensive, easy-to-review analysis of property and surrounding market data designed to target both collateral and fraud risk.

They’re available separately or as a bundle so you can choose what best fits your business.

In November we will be offering a coffee-break style webinar to showcase the power and efficiency Encompass Fraud Service delivers and cover how it works. Look for that invitation soon.

Have questions that can’t wait? Contact your account manager to learn more.
RESPA-TILA Support Available October 3-4
For high-priority RESPA-TILA-related issues, the Ellie Mae Technical Support team will be available from 5:00 a.m.-5:00 p.m. PT on the RESPA-TILA deadline weekend, Saturday, October 3 and Sunday, October 4.  All inbound channels will be available to your company’s named contacts, just as they are during our normal Monday through Friday standard hours of operation.