Encompass Upgrade: Is Your LOS Up to Speed?
With Ellie Mae’s Oct. 22 announcement about its Encompass upgrade, you may be wondering what the changes mean for you. If not, you really should be. Being aware of the changes means being able to take advantage of all that Encompass has to offer.
Encompass Upgrade Highlights
Ellie Mae’s Encompass upgrade is expected to help mortgage lenders originate additional loans, lower origination costs, and shorten closing times as a result of efficiency, compliance, and quality.
The highlights of the upgrade include:
- • Enhanced Home Equity Line of Credit (HELOC) support
- • The release of Encompass Dynamic Data Management
- • Mortgage insurance support for the Ellie Mae Total Quality Loan™ Program
Jonathan Corr, president and CEO of Ellie Mae, said the changes can help mortgage lenders operate more efficiently by using Encompass Dynamic Data Management, achieve complete compliance, and have a more streamlined mortgage process with centralized service ordering.
What It Means to You
If your loan origination system hasn’t been analyzed in a while, these Encompass enhancements could be the push you need to update your system. If you are working with outdated systems, using tools you don’t need, using the wrong tools, or overlooking the right mortgage lending solutions, you could be losing time and money.
It may be difficult, however, to determine on your own what you should change. While this Encompass upgrade is especially significant due to the release of the Encompass Dynamic Data Management program, changes and modifications occur regularly at Ellie Mae. As a mortgage lender, it’s important for you to keep up with them to ensure compliance, more efficiency, and better customer service.
That’s why we’re here. As an Ellie Mae partner, Clarity Technologies can analyze your mortgage technology systems to provide you with recommendations and customized technology solutions to meet your needs.