Ellie Mae Announced Release of Encompass Mortgage Management Solution

  • Compliance , Infrastructure
  • 15.12.2015 06:30 am

Ellie Mae, a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced the 15.2 release of Ellie Mae’s Encompass all-in-one mortgage management solution. Encompass 15.2 offers compliance updates, overnight rate protection for secondary marketing, and integrated AllRegs Investor guidelines for easy access to vital information.

The 15.2 release of Encompass includes:

Compliance Updates: Starting with the first quarter 2016 filings, lenders required to file quarterly Mortgage Call Reports through the Nationwide Multistate Licensing System & Registry (NMLS) are required to report loan applications and pre-approval requests based on a revised definition of “application” in addition to reporting changes in application amounts. Ellie Mae’s updated Mortgage Call Report offers fields to track loan information including the date of “application” in addition to both initial and final loan amounts. Additional enhancements include updates to TILA (Regulation Z) Annual Threshold Adjustments for HOEPA and ATR/QM, the ability to set defaults for Home Counseling Provider searches, and additional fields to support HOEPA compliance reviews on HELOCs.

Overnight Rate Protection for Secondary Marketers: Allows the submission of Lock Requests when the Lock Desk is closed, and gives lenders the ability to manage their exposure to market risk for each channel while providing their customers additional flexibility to lock in rates.

Integrated AllRegs Investor Guidelines: Announced in November, AllRegs’ Market Clarity® content is now accessible via investor guideline links within the Encompass Product and Pricing Service™ and Encompass TPO WebCenter. This includes product summaries with key eligibility requirements, the industry leading AllRegs guideline library, and investor bulletins. AllRegs’ Market Clarity is a business information tool for the mortgage banking industry that helps lenders and investors manage risk, identify market opportunities and maintain a competitive edge.

Image Manager for Encompass Docs Solution™: Provides lenders with the flexibility to easily brand the Loan Estimate and Closing Disclosures with a company name and logo.

“Ellie Mae’s new release of Encompass is designed to help our customers expand and manage new channels more effectively, while ensuring compliance with evolving regulations,” said Jonathan Corr, president and CEO of Ellie Mae. “These enhancements to Encompass, combined with our recently announced AllRegs investor guideline integration, increase productivity and efficiency for lenders of all sizes.”

For more information about Encompass 15.2 visit http://www.elliemae.com/encompass/encompass-overview

 

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