Custom input forms are a crucial part of Encompass, allowing users to capture and manage essential loan information efficiently. While Encompass Input Forms offer extensive customization options out of the box, sometimes we need to go beyond the defaults to tailor the forms precisely to the business needs. This is where custom coding functionality within…
In the realm of customer relationship management, Salesforce Einstein offers powerful tools to assist businesses in making informed decisions. One of its noteworthy features is Opportunity Scoring, which aids in predicting the likelihood of closing deals. By Enhancing Opportunity Scoring with Salesforce Einstein, your team can focus on the right opportunities so you can close…
Automated Service Ordering is a powerful feature in Encompass which can enhance efficiency and simplify the lending process for mortgage lender or broker. For users with both Encompass and Encompass LO Connect enabled, if the settings are configured in Encompass LO Connect, automated Fannie Mae DU and Freddie Mac LPA orders can be placed from…
We covered the basics of Einstein lead scoring in Einstein lead Scoring in Salesforce Sales Cloud – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com). In this article we will discuss how to Set up Einstein lead scoring in Salesforce Sales Cloud. Einstein Lead Scoring introduces a Lead Score field to leads, aiding loan officersin…
Einstein Lead Scoring is a feature within Salesforce that uses data science and machine learning to help businesses prioritize and score their leads more effectively. Here’s a breakdown of how Einstein lead Scoring in Salesforce Sales Cloud works: Overall, Einstein Lead Scoring in Salesforce Sales Cloud streamlines the lead prioritization process by leveraging machine learning…
Paths in Salesforce provide loan officers with a visual guide outlining the essential stages to follow when navigating through a sales process. These customized paths can encompass critical fields that must be filled out by reps before progressing to the subsequent stage in the sales journey. This article explains how to Optimize business Processes with…
The TQL Services tool within Encompass provides a single location to review 4506-C tax transcripts, fraud reports, Automated Valuation Model (AVM) reports, compliance reviews, and flood service reports ordered from within Encompass. Loan team members can view the status and other details about these documents, helping to ensure that loans meet total quality loan (TQL)…
Einstein Activity Capture enhances productivity by seamlessly synchronizing data between Salesforce and your email and calendar applications, ensuring that information stays current and accurate. This article explains how to set up Einstein Activity Capture in Salesforce. 2. Basic Settings 3. Creating a configuration that controls what to capture and sync. 4. Sync Settings 5. User…
In mortgage firms, loan officers spend a considerable time in sending emails and calendars. If they are able to bring Salesforce data to the place where they spend most of their time, loan officers can spend less time entering data and switching between the two applications. This article discuss in detail the step by step…
This article is the third and final part of Building Borrower portal for mortgage firms in Salesforce. You can read the first two parts here Building Customer Account portal for Borrowers in a mortgage firm-I – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), BUILDING CUSTOMER ACCOUNT PORTAL FOR BORROWERS IN A MORTGAGE FIRM-II –…
Microservices have emerged as a pivotal force in the realm of software development, particularly influencing the digital transformation of lending businesses. This revolutionary approach entails the creation of distinct, autonomous services for various business functions, allowing them to interconnect as needed. By orchestrating a collection of these independent services, a loosely coupled architecture is formed,…
We have discussed the initial steps to set up a dedicated borrower portal for mortgage firms using Salesforce in Building Customer Account portal for Borrowers in a mortgage firm-I – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com). We already created a self-registration flow for borrower to register and log in to the portal site…
With Customer account portal, borrowers can quickly search knowledge articles and update personal information such as addresses and phone numbers. Borrowers can check the status of their loans and find related information. This article explains the steps in Building Customer Account portal for Borrowers in a mortgage firm using Salesforce. To set up a portal,…
This blog is the second part in the series of blogs about overview of AIQ in Encompass. Please follow the URL below to read the first part: Overview of AIQ within Encompass Access to the AIQ Income Analyzer from within Encompass Encompass users can now use the AIQ Income Analyzer to analyze and calculate the…
We have discussed two ways to share records between internal and external users and between two partner accounts in the partner portal. In this article let us see how to share data between partner accounts in the Realtor portal using Account Relationship. Account relationships are great when you need to set up a business relationship…
Sharing rules grant additional access to records on an object-by-object basis, regardless of where users fall on the role hierarchy. Sharing rules work the same way for external users as they do for internal users. In this article, let us see how to use them for sharing records with Partner users of Realtor Portal in…
When borrowers seek to leverage the equity accrued in their homes to address various financial requirements, lenders have many Encompass tools at their disposal. From the traditional first lien cash-out refinance to the versatile Home Equity Line of Credit (HELOC) and the subordinate home equity loan (HELOAN), options are plenty. The Encompass 19.3 release brought…
In our previous articles on Building Realtor Partner Portal for mortgage firms in Salesforce, we have so far discussed the creation of a realtor partner portal site, conversion of Salesforce accounts to partner accounts and contacts to partner users. We made a halt after setting up an external sharing model by which the loan visibility to…
In our previous articles- Building a Realtor Partner Portal for Mortgage firms in Salesforce-I – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com) and Building a Realtor Partner Portal for Mortgage firms in Salesforce-II – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), we have seen how to create a dedicated partner portal for realtor…
Lenders can streamline the process of obtaining homeowners insurance with Encompass Consumer Connect. Homeowners Insurance Service in Encompass Consumer Connect makes the challenging task of borrowers providing proof of homeowners insurance (HOI) a more automated and efficient process. Rather than borrowers having to work through multiple systems and vendors to purchase an HOI policy and…
In the aricle titled ‘Building a Realtor Partner Portal for Mortgage firms in Salesforce-I’, we have learned the initial steps to set up partner portal. We have so far created the Partner site and added Partner User Actions to the Account and Contact Page Layouts. In this article let us create a partner-accounts and its…
Mortgage firms often want to share CRM data with their realtor partners with limited access. Salesforce offers Experience cloud sites to attain this goal. A partner portal allows partner users to log in to Salesforce through a separate website than the non-partner users. Partner users can only see the data that you have made available…
Enhanced Conditions Tool within Encompass 360 is a robust solution designed to streamline the conversion and migration process of standard conditions into enhanced conditions. The Enhanced Conditions Tool presents two powerful capabilities for Encompass users: Convert Existing Standard Conditions: Seamlessly transition from older standard Encompass conditions to the new enhanced conditions. Migrate Enhanced Conditions: Effortlessly…
The HMDA Batch Update Tool in Encompass 360 is designed to simplify and automate the process of updating HMDA-related data for multiple loans simultaneously. This tool proves invaluable for lenders handling a significant volume of loans, ensuring compliance without manual data entry for each loan individually. Using the tool is a two part process: Step…
A landing page is the destination webpage accessed by a visitor after clicking on a link or advertisement. Its primary purpose is to exhibit content tailored to the specific advertisement, search keyword, or link that was clicked. By delivering pertinent and actionable information, landing pages significantly increase the likelihood of visitors converting into valuable actions.…
BombBomb is a video email marketing platform that allows users to send video messages through email. Integrating Bombbomb and Salesforce can enhance your sales and marketing efforts by combining the power of video communication with your CRM data. This article presents the step by step guide on how to install and integrate Bombbomb with Salesforce/Jungo.…
Encompass 360’s new offering – Enhanced Conditions workflow, offers unparalleled flexibility and improved functionality for multiple business channels. In this blog, we’ll dive deep into the capabilities of Enhanced Conditions in Encompass and explore how it can transform the loan management process of a lender. Greater Flexibility for Enhanced Condition Management The Enhanced Conditions workflow…
Automation rules are the most comprehensive automation tool offered by Account Engagement. Automation rules allow you to perform certain marketing and sales actions based on criteria that they specify. Automation rules continuously look for prospects who match the rule criteria. They are retroactive; but any changes after the rule becomes live are not. This article…
In the competitive landscape of mortgage banking, efficiency and superior service are essential for success. By leveraging Encompass and integrating it with third-party tools, mortgage banks can enhance their capabilities and streamline operations. Extending Encompass capabilities through integration with third-party tools There are a number of third-party tools that can be integrated with Encompass, including:…
Account engagement segmentation rules refer to the criteria used to categorize or group prospects based on their level of engagement with the company. These rules help businesses target their resources and efforts more effectively by tailoring their engagement strategies to different segments of prospects. The specific segmentation rules can vary depending on the company’s goals,…
When we want to collect information about people visiting the website or landing page, then we will use an Account Engagement form. It helps turn anonymous visitors into identified prospects. Let us see the steps to create Forms in Account Engagement. The form when viewed online will like this below; To learn more, click Capture…
Choosing the right technology partner is a crucial decision for mortgage banks and lenders that can significantly impact operational efficiency, streamlines operations, and borrower satisfaction. To facilitate an informed decision-making process, the following essential technical considerations has to be factored in for ideal technology partner selection for mortgage banks and lenders. Define Business Objectives and…
In Salesforce/Jungo, a round-robin lead assignment rule can be set up to distribute leads evenly among a group of loan officers/account executives or users. This type of rule ensures that each user in the group has an equal opportunity to work on new leads. To create a round-robin lead assignment rule in Salesforce, follow these…
The integration of Artificial Intelligence (AI) chatbots in mortgage services is a technology trend which is gaining momentum in recent times. These intelligent virtual assistants are revolutionizing the way borrowers interact with lenders, providing personalized assistance, and simplifying the mortgage application process and thereby enhancing borrower experience with AI chatbots. AI chatbots are advanced virtual…
In today’s era of digital mortgages, data modeling is essential for driving transparent analytics and streamlining the entire mortgage process. Data modeling in mortgage industry can provide a seamless experience for borrowers and lenders by optimizing workflows and ensuring compliance with regulations. Data Models in Mortgage Industry Statistical data models find applications within Mortgage Industry…
Encompass Product and Pricing Service is a robust pricing engine integrated into the Encompass Digital Mortgage Solution. EPPS offers the ability to innovate and automate a critical part of the origination process as part of a single system of record and true digital mortgage workflow. Using this service, lenders can get rate sheets faster, keep…
One of the key steps in the mortgage process is title and closing, which involves verifying the property title, conducting necessary searches, and preparing the closing documents. Using Ellie Mae’s Title & Closing Center, Encompass users can perform three of these common tasks without having to leave the secure Encompass environment: Order and receive title…
In today’s digital era, Artificial Intelligence (AI) has emerged as a game-changer, offering a multitude of opportunities to streamline processes, improve accuracy, and enhance end user experiences within Encompass. By leveraging AI technologies, Encompass admin services can empower mortgage professionals to optimize operations, enhance accuracy, and deliver exceptional borrower experiences. Intelligent Data Extraction: Streamlining Mortgage…
Salesforce, a leading customer relationship management (CRM) platform, presents an exciting opportunity for mortgage companies to streamline operations and leverage advanced automation capabilities. The scope of Salesforce services in mortgage industry is detailed in this blog. Implementation and Integration Services: Tailored Implementation: Salesforce is highly customizable, allowing for the creation of custom objects, fields, and…
In this article we will discuss the various steps involved to setup Account Engagement in Salesforce. 2. Apply the Pardot Connector user permission (Sales, Service or CRM user license) Make sure the user has this permission set. 3. Enable Account Engagement Lightning app Select Setup Assistant Enable Account Engagement Lightning App. 4. App permission of…
In the precious article Account Engagement Lightning App-Part 1 – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), we discussed about some of the default tabs available on the top navigation bar in Account Engagement (Pardot). The rest of the tabs and their functionalities are explained here in Account Engagement Lightning App Part 2. Forms,…
The Account Engagement Lightning App places Account Engagement into the Salesforce Lightning Experience. To set up the Account Engagement Lightning App, go through the Implementation Guide Account Engagement Setup Implementation Guide (salesforce.com). We will cover the detailed steps of implementation in another article. In Account Engagement Lightning App-Part 1,let us see the tabs on the…
In the mortgage industry, efficient and accurate property appraisals are essential for making informed lending decisions. With Encompass, mortgage professionals can take advantage of the Appraisal service, a powerful tool that allows them to order, manage, and review appraisals within the Encompass platform, thus making the appraisal process within Encompass a seamless process. Encompass simplifies…
Account Engagement is the smart marketing automation solution provided by Salesforce. Previously called Pardot, Account Engagement unifies the marketing and sales team within your org to drive pipeline and grow revenue. It tracks prospects coming through various channels, like website, emails, and forms and deliver a personalized experience. It gives you the power to customize…
Mortgage Lenders can save time by giving borrowers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates. Please find below a detailed overview(including screenshots) of the borrower portal within Encompass Consumer Connect from…
AIQ within Encompass is an omnichannel solution that leverages artificial intelligence (AI) to enable lenders, investors and servicers to automate manual workflows, increase productivity, reduce risk and boost return on investment (ROI). AIQ Desktop is one of a suite of applications that allow users to access and work with loan folders from any location. AIQ…
Mortgage Lenders can save time by giving borrowers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates. Please find below a detailed overview(including screenshots) of the borrower portal within Encompass Consumer Connect from…
Mortgage Lenders can save time by giving borrowers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates. Please find below a detailed overview(including screenshots) of the borrower portal within Encompass Consumer Connect from…
Lead assignment rules in Salesforce are used to assign leads to specific users or queues based on a set of criteria. It helps to automate the organization’s lead generation and support processes. Lead assignment rules work for every leads -those manually entered, created from web to lead forms and for those imported using data import…
Lead scoring helps to prioritize leads based on a point based system where you can create rules to assign points to find the best leads. This will help the sales team to focus on high quality leads. This article discusses how to use Lead Scoring in Salesforce/Jungo to qualify the best leads. Lead scoring app…
Loan origination is a complex process that requires the coordination of many moving parts. From communicating with borrowers and third-party vendors to processing documents and underwriting applications, loan officers need tools that can help them manage the entire process efficiently. LO Connect’s technical capabilities will help to streamlines this loan origination process for loan officers…
In this article, we discuss about some major Salesforce Spring’23 release features. 2. WhatsApp Business Messaging: Direct Integration 3. Salesforce Contact Center: Insights & Scheduling 4. Service Process Automation Above listed are a few among the major Salesforce Spring’23 release features. For knowing more, please click Salesforce Spring ’23 Release Notes Contact Us Now Take…
What is Einstein GPT? Einstein GPT is the next generation of Einstein which combines the proprietary Einstein AI models with ChatGPT or other leading large language models with which customers can use natural-language prompts on CRM data to trigger powerful, time-saving automations, and create personalized, AI-generated content. Impacts of generative AI on CRM Einstein generates…
Customer service is the biggest priority of every business and it is imperative to know which problems AI is suited to solve for the major business stakeholders. This article gives an insight on how AI powered chatbots help CRM and the applications in mortgage industry. Applications of ChatGPT in mortgage industry The AI generative tool,…
In previous articles, we discussed the basics of CRM analytics, how to build dashboards with CRM analytics and demonstrated a sample dashboard built within the platform. Here, we can see a sample Lead dashboard created to get interactive views of the business data. The dashboard basically contains four widgets representing four different information out…
In Build Dashboard with CRM Analytics – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com) , we learned about how to build a dashboard. In this article, we can see how to build a sample dashboard with CRM Analytics using several widgets to display the key metrics of a business. Most widgets have a wizard that…
The mortgage industry deals with a vast amount of personal and financial data, including credit scores, income and employment details, bank account information, and property appraisals. As mortgage banks increasingly rely on technology to streamline their borrowers and better serve their customers, it is important to ensure that data security and privacy in mortgage technology…
CRM Analytics dashboard continuously monitor key metrics of business, analyzing the results by key dimensions, like region, products, amount etc. The charts built within the dashboards are interactive and real time. Information is presented in an easy to read format. CRM analytics dashboards provide many ways to display any type of information like charts, map…
The mortgage industry is known for its complex workflows that involve multiple stakeholders, tedious paperwork, and time-consuming processes. However, with the advent of technology, there are now powerful tools such as Jungo and Encompass 360 available that can help streamline mortgage workflows and improve overall efficiency. The integration of Jungo with Encompass 360 will provide…
CRM Analytics formerly known as Tableau CRM is a platform which connects data from multiple sources and enables creating interactive views of that data. Its intuitive point-and-click visual interface helps everyone in the org getting immediate access to the powerful data insights derived by means of the various assets. Here we discusses the basics of…
Compliance is a critical aspect of the mortgage industry, and mortgage banks must adhere to a variety of regulations and laws to operate successfully. With its inherent features and tools, Encompass 360 can help mortgage banks in managing compliance. Regulatory requirements for mortgage banks: Mortgage banks are subject to various regulations and laws that govern…
Leads are potential customers of a company. In Salesforce, information about leads is stored in Lead records. We can gather leads through various lead sources like Web, Phone enquiry, past happy customers, partner referrals so on and so forth. Leads will become assets to your company once they gets converted into a contact or account…
Digital transformation has become a critical priority for businesses across industries, and mortgage banks are no exception. With increased competition, changing customer expectations, and evolving regulatory requirements, mortgage banks must embrace digital transformation in order to remain relevant and competitive. Mortgage banks must have the right digital transformation strategies in place to achieve the transformation…
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…
We can create bucket columns in salesforce reports to categorize data without creating a formula. When we create a bucket column, we should define multiple categories (buckets) used to group report values. Like any other column in a report, we can sort, filter, and group by bucket columns. This article explains how to Categorize Data…
Salesforce offers the feature to create custom buttons and links directly to object and record detail pages in cases where the users frequently need to access other pages in or outside your org. It helps to integrate Salesforce data with external URLs, applications, company’s intranet, or other back-end office systems. In this article, we explain…
We can Color Dashboard Data in Salesforce/Jungo. We can organize and curate dashboard data by choosing a light or dark theme and one of 14 color palettes. For instance, we can highlight a set of summary metrics by giving them a dark theme and setting them against a light-themed dashboard. Create a permission set for…
In addition to the prebuilt standard rules, users can create custom matching rules and duplicate rules in Salesforce to improve data quality according to their business requirements. Let us try out an example to create a custom matching rule for the Contact object which compares the email field of a new contact with an existing…
Data quality is major concern for Admins and loan officers for the sake of customer interaction and reputation of the firm they are working in. There may be incidents where a LO happen to call the lead owned by another LO. Repeated calls may irritate the lead, upset the LO and cause trouble to the…
Plan codes refer to the set of codes used by Encompass to identify the specific loan program or product being used for a particular mortgage loan. Plan codes can acts as specific loan product configurations which can be used to standardize the loan origination process and ensure that loans are being processed in accordance with…
Document training is the process of associating an eFolder file attachment with an eFolder document. After a file has been trained, future copies of the file attachment will be automatically assigned to the document when imported into the eFolder. Therefore document training within Encompass will save time by automating the file assignment process within Encompass.…
This article explains how to Create document checklist items in Salesforce financial cloud for commonly required documents. Click Financial Services Cloud | Financial Services Cloud Administrator Guide | Salesforce Developers to learn about Salesforce financial cloud. Contact Us Now Take Five Consulting is a technology company, based in Virginia U.S., that specializes in the Mortgage Banking…
Document Checklist is a capability offered by Salesforce to encourage customers to provide required documents, create document checklist items to help manage file uploads and approvals. We can create document checklist items for any of the following records in the Professional, Enterprise and Unlimited editions with financial cloud. It involves two steps. Enable Document Tracking…
Lightning app is a collection of items in the Lightning Experience which give your users access to sets of objects, tabs, and other items all in one convenient bundle in the navigation bar. The Lightning apps can be branded with a custom color and logo. By switching between apps, the team members of the org…
Lead nurturing campaigns can move prospects to close and ensure that your new customers stick around after they’ve made a first-time purchase. This article explains customer retention and sales enablement nurturing campaign. I. Lead Prospects to Close II. Build and Grow Customer Relationships Nurturing the Sales team Get to know more about Campaigns in Salesforce…
Lead nurturing Campaigns helps to grow relationships with prospects and customers through relevant, personalized content. They are intended to cultivate initial brand awareness and retain customers. They deliver personalized experiences throughout a buyer’s journey. Lead nurturing campaigns are replicable by means of automation tools to deliver promising results. This article presents 5 types of Lead…
The loan officers can keep track on the loans which are approaching the estimated closing date by highlighting them on the list view. It can be customized by color coding loans based on their estimated closing date. The recent ones can be coded red, later ones green and the farther ones in yellow. In this…
Validation rules verifies the data entered by a user meets a specific standard before he saves the record. To verify, it uses a formula or expression that evaluates the data in one or more fields and returns a value of “True” or “False.” A returned value of “True”, implies that the data entered by the user…
Encompass Developer Connect is the portal into the Encompass LOS, and provides developers with documentation and tools supporting Ellie Mae’s Application Programing Interfaces (APIs) to extend Ellie Mae’s Encompass all-in-one mortgage management solution to add new functions, to easily integrate Encompass with external systems and data, and to build and deploy custom applications in the…
In Salesforce, we can customize data through standard and custom objects. Objects are containers of data which is to be stored as records in salesforce. But they are more customizable than a database. Considering objects, there are several record types which are common to every business units employing salesforce. The data in these record types…
Encompass eClose is a recent offering from Ice Mortgage Technology which enables lenders to electronically facilitate every aspect of the eClosing workflow from ordering documents, to delivering loans to investors, all from a single solution. Lenders will gain access to the industry’s largest ecosystem of participants by leveraging one underlying data source that is delivered…
In S-Docs-The Document generation solution for Salesforce – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), we discussed about S-Docs and how to design an S-Doc template. In this article we will discuss about How to generate a document using S-Docs. For eg: In cases where discount field is greater than 0, the discount field…
S-Docs is a document generation application and e- signature solution which runs entirely on the Salesforce platform. With S-Docs, we can design sophisticated templates and with these templates, we can generate any number of documents by merging fields. This article discusses about S-Docs-the salesforce document generation solution for salesforce. Features Installation and Configuration Below given…
Whenever a new Loan Officer arrives/leaves the organization, it is important to update the settings within Consumer Connect to make that changes effective within Encompass and Consumer Connect. Please find below the detailed steps for adding new Loan Officers in Consumer Connect. Logging Into Encompass Consumer Connect: To log in to the Encompass Consumer Connect…
In How to convert a Lightning Page to dynamic form – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com) we discussed about dynamic forms. In this article, let us see how to customize record page and add visibility rules to fields or section components. Even though you have chosen a page layout which is most…
Dynamic form enables to build highly flexible and dynamic experiences for end your users by configuring record detail fields and sections inside the Lightning App Builder. This article describes how to convert lightning Page to dynamic form. How Dynamic forms differ from Page Layouts? Salesforce supports different page layouts for a single object. So the…
Data sources in any program that can save data in the comma delimited text format (.csv) can be imported into Salesforce. This article discusses how to import data into salesforce using the Data Import Wizard. Salesforce offers two main methods for importing data. Data Import Wizard This lets you import data in common standard…
Mail merge is a feature offered by Salesforce to send personalized documents to contacts, leads etc. The content is predefined so as to include the items to be customized by merging corresponding fields in salesforce. Merge fields are used to create dynamic document for each salesforce record to which the email is intended to send.…
Approval Process is the way to automate Salesforce records approved in the org. When we create an approval process we should Specify the criteria for a record to be approved and who should approve it. Specify the actions once a record is approved or rejected. For eg. Update fields on a record detail page if…
Record types determine the business processes, page layouts, and picklist values users have access to. When we create a record for an object, salesforce asks on which type of record to be created. For example, for the contact object in Jungo, the two record types are Client and Business Contact. Client record type are suitable…
Flows can be subscribed to platform event messages. When platform event messages published through Apex, APIs, flows, and other processes are received, the Platform event triggered flow will be launched. What are platform events? Read more about platform events Platform Events Developer Guide | Salesforce Developers Custom platform events We can define a custom platform…
Consider an instance when there is no trigger to launch a flow as we see in record triggered flows and schedule triggered flows, nor there is any user interaction like we have in screen flow. In such scenarios, we can use Autolaunched flow (no trigger). It can be called as a subflow within a flow…
Salesforce Genie is a real time data platform which unifies customer data coming from all channels into a unified customer profile. Fetching data in real time helps companies to anticipate customer needs in the moment and offer personalized services. Genie makes Salesforce Customer 360, the world’s first real-time CRM. Genie is the integration…
Unlike Auto launched flows like Record Trigger flow, screen flows are not automatically triggered. It is a type of flow which needs user intervention. We can Configure the header and footer on the screen by adding/deleting buttons. Components and Fields Read more about Flow screen components here Provided Flow Screen Components (salesforce.com) Validate User Input…
Encompass today provides a milestone-based workflow that is sequential which has its own drawbacks. The task based workflow feature in Encompass LO Connect provides a very different paradigm to the current setup to resolve these issues. The task based workflow workspace is a configurable workspace that provides a one-stop shop to complete the tasks. This…
Einstein Activity Capture is a productivity-boosting tool that helps keep data between Salesforce and email and calendar applications up to date. This feature focuses on three types of data—emails, events, and contacts. Emails Emails that EAC users send and receive are captured and automatically added to the activity timeline of related account, contact, lead,…
With an Encompass Salesforce integration, you can easily transfer data between Encompass and Salesforce, allowing you to streamline your mortgage lending process and build a better experience. Both Salesforce and Encompass are open platforms and connection-forward, allowing you to unlock your mortgage loan processing data across your organization. Through Ellie Mae’s strategic partnership with Salesforce,…
The TPO edition of the Encompass 360 WebCenter (or TPO WebCenter) is a website that connects directly to hosted Encompass Banker Edition systems. TPO Connect makes it easy for correspondent investors to efficiently acquire and manage loans from third party originators. It is designed to support lenders that work with third-party originators (TPOs), the…
Schedule triggered flow is a type of Auto launched flow which runs in the background as and when required. And it will repeat after the specified interval. A schedule-triggered flow starts at the time and frequency we specify when configuring Start. The Start time is the Organisation default time. You can see the organisation default…
Record triggered flow is an auto launched flow which executes automatically unless screen flows where user intervention is required. It is the most common and powerful type of automation offered by Salesforce. Business Requirement RT flows are triggered when there is a DML operation like insert, delete, update or undelete occurs on a record.…
Loan package delivery is a process which is typically manual and requires multiple follow-ups. Encompass Investor Connect is a solution from Ice Mortgage Technology to make this loan package delivery process simpler, faster and automated from start to finish. Investor Connect provides secure, system-to-system workflows between lenders and correspondent investors for simplified data and document…
In this article the Salesforce Flow Updates in Winter Release’23 are presented. Cut and Paste Flow Elements Now we can cut, paste flow elements in the auto-layout of flow builder, thus making the process of flow building much faster than before. Using Cut, Paste we can change the order of elements. Earlier, we had…
Below are certain major Salesforce Winter Release’23 highlights. MFA (Multi Factor Authentication) Enhancement for Smaller Orgs Effective February 1, 2022, all Salesforce customers were contractually required to use MFA to access Salesforce products. For users who are not ready for the MFA, admins have the option to disable it. It is going to be…
Flow builder is the most powerful automation tool within Salesforce. In its Winter ’22 release, Salesforce recently announced the deprecation of new workflow rules and processes since 2023. No workflow rules and processes can be built since next year. Thereafter Flow builder will remain the only source of business automation without programming. To start with…
DocsBar is the Document Management Solution provided within Jungo. In this article, we can learn the step-by-step instructions of the loan documents management using DocsBar. One can find DocsBar on the Related list of a loan page and/or a Contact Page. Steps Click on New A new window will appear as below All the documents…
In an earlier blog SOAP API – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), we covered the basics of SOAP API. In this article we will dive into the functionalities of two other commonly used APIs, the REST API and the BULK API. REST API REST stands for REpresentational State Transfer. It is…
Encompass LO Connect is a web-based extension of Encompass that provides loan originators with quick, secure access to loan files. Loan Officers can use Encompass LO Connect to streamline their origination process and boost productivity. Features of Encompass LO Connect: Encompass LO Connect enables loan originators to take applications, order credit, run product and pricing,…
In a previous article Salesforce API – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com), we covered the fundamentals of Salesforce API. This article discusses the SOAP API which is a commonly used Data API. While other APIs let us do things like customize page layouts or build custom development tools, the data APIs helps…
Mortgage Lenders can save time by giving borrowers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates. Please find below a detailed overview(including screenshots) of the borrower portal within Encompass Consumer Connect from…
API stands for Application Programming Interface. It provides a way to remotely interact with a web service. In the salesforce scenario, it can be defined as a software intermediary which connects between salesforce and any external system to programmatically access salesforce data. The typical uses of Salesforce API includes Create, Read, Update and Delete of…
In the modern mortgage industry, leads and opportunities can come from different sources and angles – there’s lead generation that exists online doing marketing as well as leads that come from real estate agents, referral partners and past clients. So, it is important to automate most of the lead generation for mortgage lenders and make…
We covered Apex class and method by writting a demo code on a custom object in the previous article Apex Class – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com). This code will be called by the Apex Trigger to make changes in a newly inserted record using the method explained in the apex class.…
In the previous article, we learned about the basics of Apex Apex – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com). This article presents the step by step procedure of creating a simple Apex class and method on a custom object and custom field. The prerequisites can be either one of the following. A Salesforce…
How to Create Conditions within Encompass: This article enlists the steps on how to setup conditions within the Encompass backend settings by an admin or super admin. Steps On the menu bar, click Encompass, and then click Settings. 2. The first step in creating each Condition is creating a document bucket attached to it. On the…
Apex is a programming language developed by Salesforce. It is an object oriented programming language that allows developers to execute flow and transaction control statements on the salesforce platform. It helps developers to add business logic to most of the system events like button clicks, record updates and Visual force pages. The syntax…
Salesforce has standard built in pages. For adding additional functionalities to the builtin standard page or to override the existing one, visual force pages can be created. They represent the programmatic aspect of the User interface we already discussed in MVC Architecture in Salesforce. What is Visual force? A visual force page is a framework…
MVC pattern is a software architectural pattern commonly used in many technology platforms including Salesforce. Model stands for data, View stands for User interface, and Controller stands for the Processor. The Controller processes the data and display it on the user interface. Let us look into detail the MVC architecture in Salesforce scenario. Model…
Email marketing is one of the most effective channels for boosting business opportunities. This article discusses the possibilities of Automated Email Campaigns in Jungo/Salesforce. Marketing automation can accelerate business growth tremendously with the adoption of marketing campaigns. Email campaigns are core components of automation as the customer moves through the buying process. The content…
This article covers the various aspects of user management a salesforce administrator must handle in his organization. It gives a brief idea on how to configure user permissions, other user settings like roles, groups etc, how to create, edit and maintain existing user records in Salesforce. Let us get into the details of Managing Users…
Data modelling helps us make sense of the data residing within the system. It aids to establish specific relationships between Salesforce objects and fields. So far we have discussed about Standard Objects, Custom objects, some common standard fields and the configuration of custom fields for custom and standard objects. In this article, we will discuss…
Salesforce supports several different types of objects. Objects are containers of data (like a single spreadsheet of an excel file). Fields are like columns and Records, which are the actual data are like rows in the spreadsheet. In this article, we focus on Custom and Standard Objects. Standard objects They are objects that are included…
Every Salesforce administrator has the responsibility to set up his organization by adding users and managing data access. The data sharing design provided by salesforce is highly flexible to admins to control data access by the users. By exposing different users to the data only relevant to them can thereby enhance the security of the…
Dashboards help salesforce administrators to bring data into life for the help of their users. They are visual representations that display key performance indicators of reports. When Jungo users need to get the insights from the reports at a glance, dashboards are of great convenience. In Salesforce/ Jungo, dashboards can be created and edited using…
Reports are powerful analytical tools offered by Salesforce/Jungo to help users organize, view and analyze data. Reports help to predict trends and make decisions. In Salesforce, reports can be easily generated in different style in a short time to provide a quick reference to the large bulk of data in the org. This article…
Salesforce/Jungo Bombbomb integration can easily record and send video messages to the clients anytime. This article discusses the various aspects of Jungo Bombbomb Integration. What is Bombbomb? • Bombbomb is an online video messaging platform which help businesses build relationships with their customers through digital channels.• Makes face to face communication trouble free.• Helps record,…
There are a wide range of campaigns available in Salesforce (Ex. Automated SMS campaign in Salesforce/Jungo ). Based on the needs of the marketers, salesforce objects can be customized for the desired marketing campaign. This can be done by doing a few configurations in Jungo. For assisting business augmentation through marketing campaigns, Salesforce provides various…
Now that we have discussed about the most used tools and their features. Lets see top 5 bi tools in some of the most demanded analytics in the world and rate them in order. Augmented Analytics – Top 5 Leverages Machine Learning (ML) automation to augment data profiling and data quality, harmonization, modelling,…
Velocify, a part of the ICE Mortgage Technology Platform, puts sales automation to work for you to keep your team organized and focused on activities that drive more business. Velocify is one of leading web-based CRM and sales management platforms, serving more than 1,500 companies. What is Velocify? Velocify is online…
Salesforce is one of the top cloud-based CRM software providers in the international market. Salesforce unites your marketing, sales, commerce, service, and IT teams from anywhere with Customer 360 — one integrated CRM platform that powers our entire suite of connected apps. What is CRM? CRM stands for “customer relationship management” A…
In this article, we will be discussing Ring Central as it empowers today’s mobile workforce to communicate, collaborate, and connect via message, video, and phone calls. RingCentral is an excellent example of an advanced cloud-hosted phone systems, currently trusted by more than 300,000 prominent brands (including Evernote, BMW, Guess, Del Monte, Twitter, Subway, and…
What does a CRM system do? A CRM system essentially provides a central place where businesses can store customer and prospect data, track customer interactions, and share this information with colleagues. It allows businesses to manage relationships with customers, helping the business to grow. Cloud-based Mortgage CRM systems offer complete mobility and access to…
Ellie Mae’s Velocify is a market-leading provider of cloud-based intelligent sales software, designed for high-velocity sales environments. Ellie Mae’s Velocify helps sales teams keep pace with the speed of opportunity to maximize revenue. Velocify, a part of Ellie Mae’s end-to-end digital mortgage portfolio, allows you to streamline and optimize your sales process. Customer…
To stay in business you need to be aware of technological advancements relevant to your business. New technology can vastly affect your business and adapting to the right new technology for your business is vitally important. The Loan Origination System is one such technological advancement that the lenders needs to be aware of. Let’s…
Ice Mortgage has come up with a new feature “Enhanced Conditions” and it will be introduced with the Encompass 20.2 release. The new administrative settings and its options will be available to loan officers and other loan team members in the Encompass eFolder. Let us discuss the Enhanced Conditions in detail. Enhanced Conditions They…
Mortgage lenders receive multiple identity and income verification documents along with different forms from loan applicants in a variety of formats and styles. Hundreds of documents are generated for each loan application. To over come this issue and reduce the paper usage, lenders should automate their document processing. Automated Document Processing allows organizations to reduce…
Let’s look at the some of the top rated or the best Point of Sale (POS) software’s in the Mortgage space. What is Mortgage Point of Sale? Mortgage POS (Point of Sale) It is a systems that bring all the best together: efficient loan processing, automation, and a transparent and accurate experience for your…
Mortgage industry has started embracing API technology. The basic for a successful digital lending strategy is having the appropriate technological infrastructure. Banks and other lending institutions provide APIs to make it easier for consumers to explore their loan options. Let’s know about API and its benefits in mortgage industry. Application Programming Interface…
In this article, we will be comparing the Ice Mortgage’s Broker Vs Banker editions. The comparison is based on their functionalities / features. Let’s go over each of functionality one by one. A mortgage broker works with a variety of different lenders to help match borrowers with the best loan for their purposes.…
The Custom Input Forms are built for each of the Mortgage Business processes. These processes include Opening, Processing, Underwriting, Post Closing, Auditing and Closing. Input Custom forms are built to streamline the organization workflow. The benefits of Encompass 360 Custom Input Forms are: Streamlines work flow. Minimizes Errors. It helps in requesting the borrower…
In this article, we discuss about HMDA reporting and other latest details of HMDA to assist institutions in their HMDA reporting. It includes a summary of responsibilities and requirements, directions for assembling the necessary tools, and instructions for reporting HMDA data. Let’s touch base HMDA at first. Home Mortgage Disclosure Act (HMDA) The…
Today’s loan origination landscape is forcing lenders to rethink their workflow engines to adapt to the new environment. The mortgage lending process is considered to be one of the more complex credit processes offered to retail customers. Without a strategic approach to designing the mortgage workflow engine, lenders will find themselves battling rising costs and…
Mortgage lenders are embracing disruptive technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA), Chatbots, etc. to gain a competitive advantage. The revolution in automation is also driving changes in loan origination, helping financial institutions like yours improve loan quality and decision- making, reduce costs and fight fraud. The average per-loan cost to originate…
Traditional mortgage lending is a complicated, time-intensive, and paper-heavy process. At a time when consumers expect faster and more streamlined digital lending experiences, traditional processes may no longer cut it. In recent times, many lenders have started the process of automating the loan processing system. Loan processing system automation benefits both lenders and consumers…
Mortgage lenders are looking to optimize their Mortgage banking Ecosystem in a fast-changing landscape. The transformation of the Mortgage industry’s is imminent. Coupled with advancements in technology and evolving consumer expectations, today’s lending landscape is as complicated as ever. Mortgage lending is a collaborative venture. Lenders partner with an array of service providers…
A quality mortgage POS helps mortgage professionals organize their customer data and structure their sales and marketing activities. In this article, we will be comparing the features of the leading Mortgage POS’s. Let’s touch base and know about the Mortgage POS. Mortgage POS (Point of Sale) It is a systems bring all the best…
Why is Workflow Mapping important? If you run a business, chances are that you have a set system in place to complete work and provide services for your clients. Today’s loan origination landscape is forcing lenders to rethink their Mortgage workflow engines to adapt to the new environment. Without a strategic approach to designing…
Recently, a number of factors have come together to decimate the profitability of the mortgage banking industry. Today, Mortgage Organization are facing pressure from all sides. Interest rates are at historic lows. Technology is reshaping customer expectations. And a global pandemic is stretching remote workforces thin and causing increased demand as more consumers seek to…
In a changing competitive landscape, you need more than reports, you need Mortgage Banking BI tools that helps you take action. Ellie Mae found that it is far more common for large lenders to have a clearly defined data and analytics strategy (60%), compared to small and mid-size (55%) lenders, who are more likely…
A comprehensive loan management software can improve the quality of services and productivity, as well as help lenders make their operation more agile and transparent. This leads to operational costs reduction and better customer service. But it works even better if it’s enhanced with software that simplifies the convoluted accounting processes. It could prove to…
Today, most of the lenders use mortgage product pricing engines to increase their ROI. “ Corporate margin is the money mortgage companies need to make on loans to pay the bills needed to run the company and turn a profit. ” To become a successful mortgage lender requires a mastery of setting prices and…
Our journey with the Encompass 360 Loan Custom Field Calculations continuous in this article too. In this article, we have explained a few other operators like Date-Based Operations, Calendar-Based Operations etc. Please refer our other two articles on Encompass 360 Loan Custom Field Calculations. They are: Encompass 360 Loan Custom Field Calculations – Part…
In this article, we will be discussing about the operations and features involved in the Encompass 360 Loan custom field calculation. This will be helpful in creating custom fields for the custom forms created as per the business requirement. Encompass 360 Loan Custom Field Calculations The Loan Custom Fields tool provides the ability to…
In this article, we will discuss about the different types of operations and its features involved in Encompass 360 Loan custom field calculation. This is in continuation to our previous article “Encompass 360 Loan Custom Field Calculations – Part 1”. To help you understand in a simpler way, please refer the below tables to…
In this article, we discuss about issues faced by the Encompass 360 users after URLA 2020 was commissioned for use. Some of the issues were resolved instantly while some issues took time to get resolved and a few others are yet to be resolved by Ellie Mae. Let’s touch base the some of the…
In this article, we will be discussing about the most frequently asked questions on URLA 2020. We hope we address most of the questions on URLA 2020. Before going into the FAQs, let us touch base Uniform Residential Loan Application (URLA) 2020. Uniform Residential Loan Application (URLA) 2020 The redesigned URLA makes it easier for…
In this article, we will be discussing about the Mavent Compliance Service (MCS) which is an additional feature in Encompass 360. Mavent Compliance Service is also called Encompass Compliance service. offers leading residential mortgage lending businesses an enterprise solution that ensures loans comply with federal and state regulatory compliance requirements, as well as investor requirements.…
In this article, we will be discussing about the Encompass 360 custom fields. We will also be discussing on how to create the custom fields with real time images. Encompass 360 gives you the ability to create your own custom fields based on your business and process requirements. Let us touch base upon the different…
We will be discussing about the Advanced Coding used for creating Encompass 360 Business Rule in this article. Business rules can include a condition or an Advanced Coding under which the rule applies. Advanced Coding and Conditions come in handy when creating a business rules in Encompass. Advanced Coding It is used to create our…
In this article, we will be discussing about the Advanced Conditions for Encompass 360 Business Rules. We have explained on how to use different types of Conditions with examples. Before going into examples, lets touch base and learn what is “Conditions and Pre-defined Conditions”. Conditions We can define a rule that applies only if the…
Encompass 360 Business rules are lists of logical statements that define the behavior and operation of a loan process. Business rules are handled by both the admin and customization teams. Standard basic rules are handled by admin where advanced rules are handled by Customization teams. In Encompass 360 application, you can create, customize the business rules based on the requirements. The Encompass 360…
In this article, we will be discussing about the Encompass 360 Input Form Builder and how to create input forms as per your company’s business and process requirements. Encompass 360 Input Form Builder The Encompass 360 Input Form Builder allows you to design and create new input forms or copy and modify standard Encompass forms.…
In this article, we will be going through other Encompass 360 Business Rules that were not included in the “How to create Encompass 360 Business Rules – Part 1”. There are a few steps which are common to all the Encompass 360 Business Rules. We have elaborated the steps which are not common for all…
This article is in continuation with the articles “How to create Encompass 360 Business Rules – Part 1” and “How to create Encompass 360 Business Rules – Part 2”. Loan Folder Business Rule To create Loan Folder BusinessEntry rules, follow the below steps: On the menu bar, click Encompass, and then click Settings. On the…
In this article, we will be discussing about the Encompass 360 Milestones which is the most important aspects of loan origination in Encompass 360. At first, let us know about the Milestone in Encompass 360. Encompass 360 Milestone It is a step in the workflow that contains loan tasks that are performed by an assigned…
In this article, we will be touch basing how to create Encompass 360 Business Rules based on the requirements. We have tried to explain Encompass 360 Business Rules creation in easiest way with screenshots. Appraisal Order Management Step 1: To Access the Appraisal Order Management Setting: On the menu bar, click Encompass 360, and then…
In this article, we will be discussing about how to create Encompass 360 Milestone template. Each organization has a different business process and specific requirements. To address these requirements, different Milestone Templates can be created in Encompass 360. In the article below, we will touch base on Encompass 360 Milestone Templates and work flow. Milestone…
In this article, we will be discussing about how to use Encompass 360 Setting Sync Tool and we will also be discussing about the Do’s and Don’ts practices of the Encompass 360 Setting Sync Tool. One of the advanced features of the Encompass 360 is the Setting Sync Tool. First, let us touch base Encompass…
In the previous post on Consumer Connect, we have looked into aspects of Consumer Connect which the lenders can optimize to effectively use the Consumer Connect website. This post is a continuation of the previous post where we continue with the multiple check points within Consumer Connect which a lender can optimize. Define SEO settings…
Consumer Connect has streamlined the application process to make loan submissions faster and more efficient. Lenders can look into the following aspects to make sure that their Consumer Connect website is effectively used to give a unique and pleasant experience to the borrowers. Branding When using Consumer Connect Website Builder, the lender needs can preview…
Encompass is phasing out the web center websites and are moving to Consumer Connect website. Lenders can create new Consumer Connect website or if they have an existing non- Consumer Connect site, they can embed a Consumer Connect loan application or borrower portal into their existing site. Steps to setup a new Consumer Connect website:…
Velocify’s customized audit level reporting helps to track lead cost allocation, lead distribution, user activity so that lenders can make data-driven decisions based on the metrics and KPIs. Lenders can use the reporting functionality within Velocify to track KPIs and performance of their marketing campaigns and Velocify users as well. Standard reports within Velocify Campaign…
Velocify is a cloud-based intelligent sales software, designed for high-velocity sales environments to meet the comprehensive needs of the Mortgage Industry. A mortgage lender or loan officer can utilize the numerous integrations available in order to tap the full potential of Velocify to fit into their business model. Here is the list of essential integrations…
Velocify LeadManager automatically captures, de-dupes, intelligently distributes, and prioritizes leads so loan officers stay ahead of the competition and focused on closing more loans. Velocify has partnered with Encompass to provide a robust integration between the systems called Encompass Connector. Velocify Integration with Encompass The Encompass Connector allows for leads to be exported directly from…
Although Velocify is the most powerful CRM software available for the Mortgage Industry, a Mortgage lender or loan officer needs to customize the numerous features to suit for specific business needs. Thereby a lender or loan officer can tap the full potential of Velocify to fit into their business model. These are some aspects or…
Fintech services are seeing an increasing adoption of hybrid cloud infrastructure reducing the footprint and size of traditional data centers. Cloud adoption rate in mortgage industry is low compared to other fintech domains.Hybrid cloud computing for Mortgage Industry deliver all the benefits of cloud computing like flexibility, scalability, and cost efficiencies with the lowest possible…
Compliance costs in mortgage banking domain are rising, in line with continuing exponential growth in the volume, pace and variety of regulation. Most of the mortgage lenders still rely on highly manual processes and age-old systems to gather regulatory data and manage regulatory change. Adopting technologies in AI can help mortgage banks in solving these…
As borrower demands and origination costs are rising, mortgage lenders are turning to data, analytics, and artificial intelligence (AI) in order to make better and faster business decisions. The implementation of AI in mortgage industry will help mortgage lenders to use analytics for making real time operational business decisions such as identifying fraud detection, assessing…
Mortgage lenders are trying to offer a seamless and pleasant experience for the borrowers who come to their digital platform looking for mortgage products and loan options. Salesforce can help lenders for improving the borrower digital service using Salesforce Service Cloud by unlocking third party data to achieve single view of the borrower. SalesForce Service…
Mortgage lenders are faced with the challenge of meeting rising borrower demands while maintaining tight compliance and process controls. Robotic Process Automation (RPA) is the technological solution that can help automate repetitive tasks, access unstructured data, and tap into data sources across legacy systems to meet borrower needs and compliance requirements. Here we will take…
Manually searching for loan products, rates and pricing is slow and inefficient and may result in pricing errors, inaccurate data, or compliance issue. Mortgage lenders can automate this process using PPEs as well as integrate it with their current mortgage process. We take a look at the top pricing engines available for the mortgage industry.…
With the database of clients, prospects and leads becoming larger and more complex, Mortgage lenders understand that choosing the right CRM is essential in not falling short off the competitors in the Mortgage industry. Encompass being the leading provider of LOS software for the mortgage industry in U.S., it is important to take into account…
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Mortgage lender can infuse every major decision to drive revenue, to control costs or to mitigate risks with data and analytics. Integrated risk management using risk analytics can trigger responsible and profitable growth for mortgage banks. Risk analytics in mortgage banking helps mortgage banks to identify, quantify and mitigate risks using data and analytics. Functional…
Borrowers are using more and more digital channels than ever before to interact with their lenders. It is important for the mortgage companies to ensure that when they are interacting with their borrowers on those digital channels, they are providing a seamless digital borrower experience. These experiences must be consistent across every channel whether it…
Big part of digital transformation in mortgage industry drills down to the number of data driven initiatives by mortgage lenders and banks namely AI/ML efforts, predictive analytics, data modeling and CRMs. Explosive growth in terms of total data volume poses many operational and data challenges in mortgage industry. Data challenges in mortgage industry The total…
Mortgage marketers run different campaigns across different regions, trying to reach the borrowers in different places using a lot of different technologies. It is a real operational challenge to bring all of this data together existing in different silos. Salesforce Datorama provides one unified view of all paid campaign channel performance so the marketing team…
In the fast changing environment of technological changes, there is a greater need to exceed the expectations of borrowers and provide uninterrupted service. The main concern for different mortgage service providers is to bring their borrowers the possibility to use new features and new functionalities in less time. Employing DevOps in mortgage services provides a…
If the LOs have all the data they need about their borrower right within their application, they are going to be able to do a better job and ultimately create a better experience for the borrower. Salesforce Customer 360 is a smart and flexible platform that can digitally transform the experiences for borrowers as well…
The different products available on the Salesforce Einstein platform with their easy point-and-click tools can help to add a little bit of AI customization in order to add value to the mortgage business. A Salesforce admin or a developer within a mortgage bank can build custom AI power applications and embed them directly in the…
Jungo built off the Salesforce CRM platform has evolved from a basic CRM platform to meet the comprehensive needs of the Mortgage Industry. A mortgage lender or loan officer can utilize the numerous integrations available in order to tap the full potential of Jungo to fit into their business model. Here is the list of…
In the digital mortgage space, mortgage banks are investing heavily to drive in highly qualified sales and ideal clients to gain a strategic upper hand in the brutally competitive space. With rise in origination costs and lead generation costs, mortgage banks need to optimize their digital marketing efforts and lead generation strategies to close more…
Salesforce Community Cloud helps mortgage banks and lenders to build and customize a community to connect and collaborate with borrowers, brokers and loan officers throughout the mortgage origination process. Home buying and mortgage experience can be transformed using Salesforce Community Cloud where borrower, the lender and other third-party stakeholders collaborate in a secure and private…
It is important for mortgage banks to harness the data that is already residing within their silos to become more insight driven. This data harnessing becomes more effective if a data driven cloud strategy leveraging the is implemented for mortgage banks. Mortgage banks can apply advanced analytics to the large amount of structured and unstructured…
As the borrower expectations sore, Mortgage industry still lags behind other fin-tech industries in employing individualized marketing. Poorly integrated systems and databases, lack of data unification are some of the challenges mortgage marketers face in implementing personalized marketing automation. It is in this scenario that a Customer Data Platform can be helpful for Mortgage Marketing.…
Borrowers have been considering Customer Support Service as a pain point in their loan lifecycle since it is time consuming and inconvenient. Current service solutions are built for transactions and not exactly for conversations. Salesforce Service Cloud can help lenders to strengthen borrower relationships and transform the borrower experience through AI and automation. SalesForce Service…
API strategy needs to become a priority for Mortgage banks and lenders in order to be sustainable and to become part of the digital mortgage revolution. A typical lender’s technology stack consists of different technologies/vendors and it is important to orchestrate and enhance these applications programmatically through APIs as well as create their own custom-tailored…
Borrowers expect end to end digital engagement in real time but the different stakeholders in the loan life cycle including LOs, underwriters, marketers, appraisers etc. are operating in disconnected silos. Digitization powered by AI brought along by Salesforce Financial Services Cloud will help in smarter and faster decision making which benefits both borrowers and lenders.…
Meeting the rising borrower expectations to serve a personalized experience is an important factor for lenders and mortgage banks in revenue retention. Borrower experience can be defined as the sum of all touch points that a borrower has with the lender during the entire loan life cycle. Salesforce Service Cloud helps mortgage banks to survey…
Mortgage Banks want to better understand the borrower’s needs, increase their revenue and generate referrals from realtor partners to remain competitive in the mortgage banking domain. Einstein Analytics for Financial Services leverage Salesforce’s complete intelligence platform powered with analytics to help mortgage industry to achieve these goals. Einstein Analytics for Financial Services is a customizable…
Mortgage banks and lenders are faced with the challenge of meeting the borrower expectation of a personalized mortgage experience while improving the LO efficiency. Marketing automation using Salesforce Pardot provide mortgage banks with effective ways to improve lead generation, grow borrower relationships and scale the business. SalesForce Pardot is software as a service (SaaS) marketing automation…
Seamless and personalized borrower experience is as important as the loan products and services offered by a mortgage bank or lender. Salesforce Marketing cloud powered by AI based Einstein, enabled with ease of Trailhead and with features to bring in Enterprise data, can help mortgage banks and lenders to build relationship with the tech empowered…
While basic versions of analytic solutions focus on building data repositories and reporting, advanced predictive and prescriptive analytics can generate powerful insights. Prescriptive Analytics which use models to specify optimal behaviors and actions can be embedded as a part of real-time decision making process in the mortgage banking domain. Need for Prescriptive Analytics in Mortgage…
A robust and successful Data Analytics functionality encompasses more than a stack of technologies and is incomplete without getting incorporated into all key decisions across origination, sales, marketing, borrower experience and other core functions. So it is necessary to integrate Data Analytics into mortgage banking to aid the decision making process. How to integrate Data…
With rise in origination costs and lead generation costs, Mortgage banks need to optimize their digital marketing efforts to close more loans without increasing their marketing spend. Personalization of digital marketing efforts can go a long way in increasing the marketing efficiency and effectiveness of lead generation techniques. Benefits of personalization in lead generation Personalization…
Mortgage banks and lenders need to respond to challenges such as rising origination and operating costs, complex regulations and growing borrower expectations to remain competitive in the mortgage industry. Essential Data Models listed here can help mortgage banking decision makers overcome these challenges to offer loan products while managing risks and complying with regulations. Business…
Mortgage banks have with them a large database of information secured via loan origination platforms, application forms, POS platforms and other website features like contact forms, search patterns. Mortgage Banks by employing the right technology can leverage these existing data sets to gain meaningful insights about borrower behavior, buying patterns, trends, loan product performance and…
Frequent changes in regulatory norms and compliance legislation, rising origination costs, inflated infrastructure costs are creating disruption in the mortgage industry, and the implications of that disruption are having significant financial consequences. Technology is the key in helping mortgage banks to reduce the costs without compromising the quality of service.Here are some of the ways…
Borrower expectations have changed drastically in this mobile era with the borrowers becoming more curious, impatient and demanding. So it is important for Mortgage lenders to keep track off the right marketing metrics to accurately measure the ROI of mortgage marketing campaigns. Need for tracking the right metrics Mortgage lenders need to track the right…
Mortgage process still remains largely manual with multi-page documents, error-prone and inefficient methodologies which impact the customer experience. Robotic Process Automation (RPA) is the technological solution that can help automate the processes in mortgage industry end to end. Advantages of using RPA in Mortgage Industry Use cases for RPA in Mortgage Industry Challenges in implementing…
With the database of clients, prospects and leads becoming larger and more complex, Mortgage lenders understand that choosing the right CRM is essential in not falling short off the competitors in the Mortgage industry. We take a look at the list of top ten CRM solutions available in the Mortgage Industry based on the following…
Marketing Automation in Mortgage Industry is an effective and reliable way for a mortgage lender or loan officer to increase referrals from the existing network while attracting prospective clients. Marketing automation tools can automate follow-up tasks, including lead generation to post-closing, email marketing and lead nurturing. Benefits of employing Marketing Automation in Mortgage Industry Essential…
In the multi-channel, multi-device arena of mortgage marketing, the use of video is growing at a rapid pace owing to the fact that videos convey messages manifold more effectively than print media. So it is important to know how to leverage Video Marketing for Mortgage Banks. The importance of video marketing for Mortgage Banks How…
Advantages of integrating Optimal Blue PPE with Encompass Through seamless integration with Optimal Blue, mortgage brokers and bankers can request a product and pricing decision from their preferred lenders and investors without ever leaving Encompass LOS. Mortgage bankers using Encompass Banker Edition and Optimal Blue can automate their lock requests and confirmations as well as…
Borrower expectations have changed in the digital mortgage era influenced by the changes ushered in by companies like Uber, Airbnb and Amazon. Borrowers want the single tap experience for the mortgage process without losing the essential human touch. So it is critical that Loan Officers embrace tech marketing to create a more immersive customer experience,…
Through automation, Mortgage Lenders leverages technology to improve operational efficiency, meet regulatory requirements while reducing error rates and costs thereby speeding up the mortgage process. Loan Origination costs per loan has risen almost three times over the past decade. But document and compliance defects continue to impede the loan process thereby increasing costs and closing…
As borrowers usher in the use of newest technologies into their daily life, their expectations about mortgage experience have changed in a rapid manner. Loan officers can leverage technology to empower themselves to bring to the borrowers true digital mortgage experience without losing the essential human touch. Key Elements in the expectations of the Borrower:…
Mortgage lenders and loan officers are struggling to meet borrower’s expectations weighed down by manual processes, siloed document management systems, increased regulatory burdens and lack of transparency and visibility within the system. Digital first experience in Mortgage Banking is the solution that can bridge the widening engagement gap between borrower’s expectations and lender’s efficiency. Need…
Mortgage Industry had been slow in adopting cloud computing solutions as there were apprehensions regarding reliability, regulatory and security risks. Hybrid cloud computing for Mortgage Industry deliver all the benefits of cloud computing like flexibility, scalability and cost efficiencies with the lowest possible risk of data exposure. Hybrid cloud solutions involve a mix of on-premises,…
Mortgage Industry is always looking to reduce loan life cycle time by automating manual processes and eliminating lag times for processes such as borrower on-boarding, loan origination and servicing, compliance and all processes that deal with manual workflows. Document Management using ECM tools for Mortgage Industry is the best way to standardize and organize all…
Social media and digital marketing had been the primarily social tool for Mortgage banks for maintaining and driving relationships with borrowers. Apart from connecting and building relationships with borrowers, social media can help Mortgage banks to truly understand the borrowers for targeted advertising, generating leads, providing customer service and enhancing user experience. Benefits of leveraging…
Faster and better data driven lending decisions requires timely and accurate information right at the fingertips of LOs and Lenders. Critical business decisions backed by real time data driven approach always prove to be more accurate and effective in the long run. Essential features of a BI dashboards for Mortgage Industry Advantages of BI dashboards…
In an environment of continuous operational and regulatory change, rising origination and operational costs, Business Process Automation (BPA) applications that execute routine, rules-based tasks without human intervention can significantly improve the mortgage loan experience and bring down the costs in Mortgage Industry. Use cases of BPA in Mortgage Industry Benefits of BPA in Mortgage Industry…
Floify is a digital mortgage point-of-sale solution meant for LO teams to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. It is possible to leverage the maximum outcome from Floify in Mortgage Industry by effectively navigating through the overwhelming list of customizations and configurations.…
Mortgage Banking technology involves multiple vendors and players providing specialized dedicated services across various product types such as identity, credit, income, asset, tax transcripts, AUS, appraisal, closing costs and fees, product & pricing engine, compliance, title insurance and mortgage insurance. To enable a simple end-to-end digital mortgage experience for the borrower, it is necessary for…
Digital Mortgages and Automation are the technology solutions adopted by lenders to deal with the complex landscape of current mortgage industry to meet with the rising borrower demands, origination costs and regulatory compliances. Enterprise Resource Planning or ERP is a suite of powerful, fully integrated data management tools that can help mortgage industry to meet…
Mortgage Industry is struggling to adapt to the rapid changes in the compliance norms particularly with the recurring occurrence of changes in the guidelines issued by Freddie Mac and Fannie Mae. It is the lack of managed workflow and document integration between systems that is proving detrimental to adapting to process changes and regulations. Mortgage…
With the database of clients, prospects, referral partners and leads becoming larger and more complex, Mortgage Banks needs to implement a CRM tool to improve customer services and automate marketing efforts. Need for a CRM tool in Mortgage Industry Top Functionalities of a CRM tool Top Six CRM software for Mortgage Industry We take a…
Floify is a leading provider of mortgage automation software for loan originators which provides a secure communication and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. The new integration with Jungo enables loan originators who are using Floify to automate their mortgage process and Jungo to manage their customer database to seamlessly…
Digital Mortgages are changing the landscape of Mortgage Banking by enhancing consumer experience as well as cutting down origination costs which has been on a steady rise primarily in the purchase market. Mortgage Lenders can leverage the Digital Mortgage Technology by minimizing human touches in the process without compromising the expected quality keeping in mind…
Mortgage industry being an industry riding on data driven decision making is seeing a paradigm shift in which business decisions are generated different sources rather from a few decision makers. The advent of Big Data and making it available for the C-levels has made this unprecedented transformation possible in the Mortgage Industry. Data in the…
A mortgage lender offering the lowest possible interest rates may not be able to entice the borrowers unless the first touch point – the website is carefully designed to cater to the exact needs of the borrower. Technology Stack for a Perfect Mortgage Website Responsive design Informational content Hassle free Navigation Search Engine Optimised Tools…
According to Fannie Mae the average closing time for a new purchase is 46 days, and 49 days for a mortgage refinance. Common reasons for delays include incomplete loan application, missing documentation, low appraisal, delay in completing underwriting requirements etc. Mortgage companies can improve upon the existing internal processes and workflows using technology solutions that…
Since Loan Origination Software is the most critical application for loan officers, mortgage lenders, processors, underwriters, closers and all others who are involved in the Loan Origination process, the evaluation and selection of LOS is critical for any Mortgage Bank. Here we compare the top LOS software solutions in the mortgage market based on multiple…
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Although Jungo is the most powerful CRM software available for the Mortgage Industry, a Mortgage lender or loan officer needs to customize the numerous features in order to suit for specific business needs. Thereby a lender or loan officer can tap the full potential of Jungo to fit into their business model. These are some…
A CRM software if not able to accelerate and streamline sales process is nothing more than a centralized library of contact information. Implementing the right CRM will increase efficiency by helping in converting leads into clients, closing down more loans and automating marketing efforts. Must have features of a CRM system for the Mortgage Industry…
Technology has transformed the Mortgage Industry in unprecedented ways by enhancing customer experience, increasing regulatory compliance and improving overall operational efficiency in the mortgage process. The Mortgage lenders and loan officers have at their dispersal a large stack of technology which they can implement into the mortgage process. The entire mortgage process which can be…
Data Science is disrupting Mortgage Industry in an unprecedented manner and Mortgage banks are investing heavily to build infrastructure and technology to gather data, store them and use the data to extract important insights. The result is a win-win situation for both lenders as well as borrowers. Here are some ways in which Data Science…
Borrowers expect personalized and consistent engagement at every touch point and an intelligent CMS system can help mortgage banks to meet these expectations. Salesforce CMS can help mortgage banks to build digital experiences that are connected to customer data and powered by AI making these experiences as engaging as possible. Salesforce CMS is a hybrid…
In the Digital Mortgage space, lenders are investing heavily to drive in highly qualified sales and ideal clients to gain a strategic upper hand in the brutally competitive space. Email marketing, SEO, Google Adwords Management and Landing Page with unbounce features remains some of the most common methods used by mortgage companies for lead generation.…
Encompass, the flagship mortgage management solution offered by Ellie Mae is the leading Loan Origination System (LOS) which helps lenders to originate more loans, lower costs, reduce time to close, and make smarter decisions. Key Features of Encompass360 Compliance Management Risk Management Document Management Refinance Management Reports and Dashboards Third-party integration and automation Extensive customization…
The widening engagement gap between borrowers and lenders is a cause of concern in the Mortgage Industry. Borrowers with access to the most sophisticated technologies expect a personalized, one-touch, technology driven, streamlined and simple mortgage experience. Lenders with strict regulatory compliance, low rates, complex process and reluctance in adopting newer technology are a long way…
While everyone acknowledges the role of technology in creating a truly Digital Mortgage process, the Mortgage industry is still apprehensive in adopting one of the most innovative technologies available – Blockchain. Mortgage process is highly complex and strictly regulated with multiple participants interacting with each other exchanging data and documents and adding transactions to the…
With technology constantly evolving, borrowers have also evolved embracing technology in every walks of their life. But the lenders have not kept pace with their customers and technology still remains to be an overlooked space in Mortgage Industry especially when other Fintech industries have already made good use of it. Here are some of the…
Jungo built off the popular Salesforce CRM platform has evolved from a basic CRM platform to meet the relentless needs of the Mortgage Industry. Besides the CRM functionalities offered by Salesforce, Jungo apps provides lenders with mortgage specific functionalities designed to increase revenue and promote efficiency. Jungo offers two industry focussed applications in the Mortgage…
Mortgage banks have with them a large database of information secured via loan origination platforms and other website features like contact forms, search patterns. Data visualization proves to be the most efficient way to make the most out of this data which includes demographic data to migratory data. Importance of Data Visualization Ease of finding…
The data accumulated by Mortgage banks via different data points have already run into Petabytes and is still counting. Mortgage banks can either choke on this data or leverage them to form customer centric strategies. These voluminous amounts of data are proving to be a double edged sword for the mortgage banking industry. Challenges…
Encompass360 SmartClient – Installation and Login Instructions This document describes the process of installing the Encompass360 SmartClient, and then logging into Encompass360. Smart Client Installation Before you can log in to Encompass360 for the first time, you must install the Encompass360 SmartClient components. This is a one-time-only procedure. IMPORTANT: “Part 1” of the…
Marketing to Millennials has been an industry buzzword recently; much due to the recent downturn of the economy where marketers looking for specific ways to reach out to customers. Thanks to data available on customer behavior and insights derived from the trends. Marketing to and acquiring millennial customers have significant impact on the future of…
Millennial customer look beyond just filling out an application online, engagement has become an obligation or is expected from the lenders. Customer satisfaction for millennials is directly related to transparency offered in the progression of the origination process. Our solution to this demand is the Millennial deck’s next interface – The Internal Portal. The internal…
The millennial customer is more synonymous with mobile than he or she is with personal computers. The web applications alone won’t complete the Millennial strategy for today’s mortgage lenders. Mobile strategy is a step closer to the millennial minds; applying for loan and tracking it on their mobile devices makes the millennial customer feel at…
Changing business landscapes and stiff competition has made Mortgage banks embrace technology to leverage the large database of client information which ranges from demographic data to migratory patterns. Business Intelligence tools are the latest addition to the arsenal of technological tools to augment decision making process for mortgage banks. Importance of Business Intelligence tools Measuring…
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In the previous three parts of the post on Mortgage CRM Comparison, we have looked into comparison of mortgage marketing automation, comparison of mortgage sales automation features and comparison of CRM – LOS integration capabilities and marketing compliance of Velocify, Jungo Salesforce Mortgage App, Infusionsoft and Vantage Productions. This post takes a detailed look into…
In the previous two parts of the post on Mortgage CRM Comparison, we have looked into comparison of mortgage marketing automation and comparison of mortgage sales automation features of Velocify, Jungo Salesforce Mortgage App, Infusionsoft and Vantage Productions. This post takes a detailed look into the Loan origination system integration & Compliance to advertising and…
In the previous post on Mortgage CRM Comparison, we have looked into marketing automation features of Velocify, Jungo Salesforce Mortgage App, Infusionsoft and Vantage Productions. This post takes a detailed look into the sales automation & CRM functions of these four Mortgage CRMs. Looking for more information on mortgage CRM or need help choosing the…
As mortgage techonology consultants, one of the most frequent questions we get is about the best CRM for the mortgage industry, MLOs or Loan officers. It’s tough to make an apple to apple comparison among top CRM, mortgage marketing automation software and sales automation software for the mortgage world. However, a comparison can atleast help…
Loan Origination Software (LOS) Encompass360 Calyx Point Net Oxygen Powerlender License Option Pay as you go plus Loan closed fee. Monthly SaaS (software as a service) pricing model Reduce upfront costs and pay as you go Available on a subscription basis Dashboard management Pipeline management, Configure workflows, Review loans for compliance Out of the…
Global delivery is no longer about the wage difference, its about delivering competent skills when required at the right price. Why global delivery? As the complexity of technological services needed by financial services industry increases, its no longer possible for organizations to search for offshore resources but they need partners who specialize in global delivery…
There are more than enough reasons, you can’t ignore, to automate your business process. From the pressing needs to streamline communication to enforce accountability, avoid financial loss from forgotten payment due dates, approval dead lines or make payment for services or goods you never received, and to develop insights into the evolution and repercussions of…
Making predictions are one of the most challenging, yet an unavoidable task, businesses across industries face all the time. “Big data” and analytics are the solutions to this daunting task, helping businesses to become more effective, profitable, and better at making predictions. Enabling your organization use data analytics capability starts with forming a smart plan.…
Automate your sales process Find out, reach, engage and convert your prospects with the power of intelligent sales automation. Plan every step to engage your customers in the buying cycle. Use sales process automation to increase the efficiency of the customer relationship management. Sales process automation gives the power to know the customer in advance,…
An integrated approach to managing regulatory-driven change The financial services industry faces an increasing amount of legal obligations to meet to provide a sound, efficient and cost-effective environment that ensures organizational integrity and protects shareholder value. TakeFive’s focused approach TakeFive’s Finance, Risk and Compliance (FRC) practice offers integrated solutions to businesses seeking to manage regulatory-driven…
Successful vendor selection for a new core banking platform requires surgical precision. The industry challenge Renewal of the core banking platform is a strategic investment for banks. The momentum for transforming core banking platforms is increasing, as multiple external and internal factors are driving banks to make this change. Replacing your bank’s ‘heart’ is a…
Encompass is a complete, enterprise solution that removes the need to work with multiple software systems to run your mortgage business effectively. Most businesses spend a great deal of time and effort deciding on the software they trust their business on. Encompass360 consulting can be a rewarding business move when it comes to making the…
Encompass360 Administration and setup is one of the core areas for bankers or lenders to keep their Encompass360 system updated, trouble free and evolving to meet the new functional and business requirements. As the lending process is constantly hit by numerous challenges from the government regulations, financial volatility, global economy and a number of other…
Websites become your brand ambassadors, sales agents and data collectors if you are able to add a few enhancements that will better connect and convert. Here is an infographics on some of the must have features and approaches for websites to convert better, faster and cheap.
How to choose the right fit Loan Origination System? This question daunts many CIO’s from small and large mortgage lenders across the country. While there are more than 100 players offering a variety of Loan Origination systems, it is tough to choose one that match your requirements while taking your organization to the next level…
Web has disrupted the way marketing and advertising ever worked. This new medium has opened up new opportunities for advertisers and marketers to reach audience, otherwise could not have even identified, in a number of new ways. And lately, there is another disruption in the way web is accessed, the smartphones and tablets. TakeFive’s infographics…
Global delivery has been an industry buzzword, mainly for low costs and faster results. Take a look at how to apply global delivery solutions to complex finance-technology interface to deliver faster results, reduce costs and improve productivity.
View our infographics on ever rising significance of Business process automation. There is a huge difference between those businesses that automate their processes and those do not. When automated ones enjoys error free environment, faster decisions and more time for customer service and interaction, businesses that are yet to adopt business automation processes suffer from…
The role of Big data and Analytics are ever increasing in every industry. Banking is one of those industries, deriving most benefits. Here is an infographics on the impact of big data on banking;
Here is an infogrpahics looking into Factors reshaping Financial services Industry and how Architecture as a service influences it.
