Ellie Mae’s New Encompass 17.3 Includes HMDA Collection, Reporting Updates


Ellie Mae has launched a new release of Encompass, its all-in-one mortgage management solution, to help lenders of all sizes originate more loans, lower origination costs and shorten the time to close with efficiency and compliance.

Specifically, Encompass 17.3 includes additional updates for 2018 HMDA collection and reporting adding to the comprehensive functionality already released earlier this year, additional construction management capabilities, a streamlined user experience for FHA 203(k) loans, and correspondent and trade management improvements.

“We know that HMDA readiness is on everyone’s mind, and Ellie Mae is committed to helping our customers prepare with solutions, information and resources well in advance,” says Jonathan Corr, president and CEO of Ellie Mae. “With this major release of Encompass, we’re adding to applicant, property and loan feature data capture in support of HMDA. This comprehensive release offers technology to ensure complete compliance with changing regulation, as well as the innovative capabilities that enable our banks, credit unions and mortgage lenders to originate and fund more loans, lower origination costs and shorten the time to close.”

According to Ellie Mae, Encompass 17.3 enhancements include the following:

2018 HMDA Collection and Reporting Updates

Ellie Mae aims to take the most comprehensive approach by delivering solutions for lenders to be in complete compliance with the most automation and accuracy. Encompass 17.3 includes additional updates for 2018 HMDA collection and reporting.

  • Repurchased loans support: Allows users to report on repurchased loan data without disrupting initial loan data records, saving time by working in one single system of record.
  • Demographic data updates: The ability to report on gender and identify applicant status to understand buyer trends and comply with the new regulation.

Additionally, to further prepare Ellie Mae clients in advance of the 2018 HMDA reporting changes, Ellie Mae has a number of tools and resources available to help clients prepare and train internal teams.

FHA 203(k) Updates: These changes align with the HUD updates requiring that all lenders use their calculator on a mandatory basis. The more streamlined user interface facilitates data entry of 203(k) purchase and refinance scenarios into FHA’s mandated 203(k) calculator.

Construction Management Enhancements: Following the Encompass 17.1 release in early 2017, Ellie Mae clients provided feedback that has been leveraged for this new release to make it easier for lenders to originate and process construction loans. Encompass 17.3 splits purchase price data to be documented with both the automated underwriting system (AUS) and for disclosure. In addition, updates have been made to loan-to-value calculations based on the details of the transaction.

New Correspondent Updates: Two new worksheets have been added to the correspondent purchase advice that assist with the loan acquisition process by streamlining the purchase setup and calculations. Correspondent investors no longer will need to manually calculate the unpaid principal balance in order to purchase a loan. This reduces risk by automating the process of using the payments collected by the lender prior to the sale of the correspondent loan.

Trade Management Updates: Enables authorized third-party originators to conduct correspondent trade transactions through the new Encompass TPO Connect solution, a collaborative Web experience for lender’s third-party origination partners. Investors will save time from updating trades on behalf of their sellers; sellers will be able to manage their own trades and loan allocations. In addition, lenders will be able to run product eligibility and pricing through the integrated Encompass Product & Pricing Service to ensure the loans are eligible for the trade at the time of loan allocation.

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