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
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
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
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
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
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.
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.
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%.
Encompass and CoesterVMS: Seamless, Hassle Free Appraisal Ordering
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.
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
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:
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
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
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.
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
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
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
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.”
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
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
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
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.
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.
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.