Alias Plan codes in Encompass

Alias plan codes in Encompass 360 are codes that are used to group together sets of loan programs or products with similar characteristics. Alias plan codes are a useful tool for lenders using Encompass 360 to manage their loan programs and products efficiently and effectively

Advantages of Alias plan codes:

Alias plan codes allow lenders to streamline the loan application process by reducing the number of loan programs or products that need to be entered into Encompass 360.
Instead of entering each loan program or product separately, lenders can group together similar programs or products under a single alias plan code. This can save time and reduce errors, as well as make it easier for loan officers to find the right loan program or product for a borrower.
Alias plan codes can also be customized to meet the specific needs of the lender, and can include a range of loan features such as interest rate, term, loan-to-value ratio, and more.
They can also be used to categorize loan programs or products by property type, such as single-family homes, condominiums, or multi-unit properties.

Steps for creating an alias for a plan code:

We can add an investor’s loan program to the company’s plan codes list, but change the program’s plan code ID, description, and investor name beforehand by using the Add as Alias option. The loan program itself does not change, but when the user is selecting a plan code for their closing document package, the plan code ID, description, and investor name will be displayed to them according to your settings.

On the menu bar, click Encompass, and then click Settings.
On the left panel, click Docs Setup, and then click Closing Doc Plan Codes.
Click the New icon.
At the top of the Select Plan Code window, select an investor from the drop-down list.
- A list of loan programs provided by the investor is displayed.
- Select the Show already added plan codes check box to identify the plan codes that have already been added and are available to users to select from when ordering closing documents. (The already added plan codes will be grayed-out in the list).
To view details about the loan program, including the values that will be added to the loan file if selected, click the View Plan Code Details icon.
To create an alias for a program and then add it to your company’s plan codes list that users can select from when ordering closing documents, click to select a plan, and then click Add as Alias.
In the Add EM Plan Code as Alias window:
- On the Status line, select the Active check box to include the program in the plan codes list that users select from when ordering closing documents.
- Enter the desired plan code ID, Description, and Investor name.
- The plan code ID is an investor-specific or company-specific identifier for the program. Users selecting a plan code for their closing document package may find it helpful if you create a plan code ID that helps describe the program (for example, C.30YRFIXED) so it’s easy for them to look at the plan code and know what’s being used for the loan.
- Select the Do not import investor name to loan check box to prevent the investor name from being automatically populated to the loan file when selected. When selected, the investor name will be blank in the plan codes list that users select from when ordering closing documents.
Click Add.