Ellie Mae Releases Enhanced Versions of Encompass, DU Findings Report


There was a flurry of news from mortgage origination software provider Ellie Mae during the past week.

On Monday, the company announced the latest version of its Encompass digital mortgage solution, which includes enhanced HELOC support, Encompass Dynamic Data Management, and Mortgage Insurance Support for the Ellie Mae Total Quality Loan Program.

Version 18.4 includes the first phase of a comprehensive solution expansion to streamline the application and underwriting of HELOC loans, Ellie Mae says in a release.

To support the unique investor requirements for calculating HELOC payments, both initial and qualifying, Encompass now includes a set of configuration options for both, including support to calculate interest-only and amortizing payments on the basis of a selected rate, a fraction of principal balance, or a percentage of principal balance.

There’s also a new Mortgage Insurance Service for Ellie Mae Total Quality Loan (TQL)

TQL leverages secure, single sign-on and necessary, best-of-breed services to automate processes, and applies quality checks throughout the mortgage lifecycle to reduce resource costs and operational friction.

Enhanced integrations with Arch MI, MGIC and Radian offer a more streamlined mortgage insurance (MI) ordering process.

Encompass MI Service gives customers automated ordering, side-by-side rate quote comparisons, and an automated allocation model. It also offers faster processing, increased visibility into order history and the ability to monitor key data changes and alert Encompass users when to re-order a rate quote or MI certificate, Ellie Mae says.

Encompass MI Service within Ellie Mae TQL improves operational efficiencies by allowing automated ordering and reduces manual steps needed such as re-authentication. Customers can reduce risk by monitoring material data changes in the loan file through a single source of record that maintains all transactions and communication inside of Encompass.

Additionally, the process helps to ensure that the information is accurate, organized and securely transmitted.

The new version of Encompass also offers a new way to automate data entry. To increase productivity and enhance accuracy, Ellie Mae is releasing a new scenarios-based rule engine for Encompass designed to automate data entry across any form used during the loan origination process.

The new engine, Encompass Dynamic Data Management, brings Ellie Mae one step closer to its vision of automating everything “automatable” in the mortgage industry and helps lenders deliver a digital mortgage experience to borrowers, the software firm says.

In addition to the new version of Encompass, the company last week announced the availability of the newly redesigned Desktop Underwriter (DU) Underwriting Findings report, available through Encompass.

The company says newly improved DU Findings report will make it easier for lenders to navigate and take action and will reduce the time spent reading and interpreting Findings.

As per company press release, new enhancements to DU include the following:

  • Improved readability resulting from bolding, bullets and coloring added to certain information in the summary sections;
  • Track changes functionality that enables users to identify what messages have been changed, added, or deleted from the most recent submission as compared to the previous submission;
  • Basic navigation functionality that enables users to quickly move from one section of the report to another; and
  • A Day 1 Certainty message filter and persistent “Day 1” flags that make Day 1 Certainty messages easier to identify.

In addition, Ellie Mae last week announced that Encompass now supports Freddie Mac’s income and asset assessment solutions as delivered through Loan Product Advisor.

Ellie Mae has existing integrations to facilitate the ordering of income and asset services from Equifax’s The Work Number, FormFree and LoanBeam, from within Encompass, plus the firm will offer services from Finicity in the fourth quarter.

Ellie Mae has added functionality in support of Freddie Mac’s enhancements to Loan Product Advisor to activate its new income and asset messages in Loan Product Advisor, available through Encompass today.

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