Ellie Mae Encompass360 To Integrate ATR/QM Functionality

Ellie Mae says the upcoming November release of its Encompass360 mortgage management solution will include new ability-to-repay (ATR)/qualified mortgage (QM) solutions.

According to the company, the new solution will enable lenders to automatically assess QM eligibility and effectively document QM compliance for investors and regulators. It will also include tools to test for key ATR and QM calculations, such as total debt-to-income ratio.

Encompass360 users will see the assessments in real time via an online ATR/QM checklist that will change and provide alerts as elements in the loan file change. The checklist will red-flag changes that could affect QM eligibility status and safe-harbor treatment and show underwriters what needs to be reviewed.

The new ATR/QM solution also allows lenders to write their own business rules and set parameters to focus on specific types of QM originations, according to Ellie Mae. It additionally provides eligibility recommendations and feedback for multiple types of QM loans.


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