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 reports.
- Order closing docs and services electronically from their preferred providers.
- Order and receive fee quotes.
Ellie Mae’s Title & Closing Center within Encompass is a game-changer for lenders and settlement service providers involved in the mortgage title and closing process. The Title & Closing Center can help lenders to save time and money, improve compliance, and enhance communication with borrowers and other parties involved in the closing process.
- After Encompass users order fee quotes, title reports, and closing products electronically from their preferred providers using the Title & Closing Center, the provider logs in to the Title & Closing Center to view and accept the orders, ask questions, and upload completed documents.
- Then the Encompass user views a list of uploaded documents and imports them into the Encompass loan file.
- The provider can also upload fees and other data in the Title & Closing Center that the Encompass user can retrieve and import into the 2015 Itemization form, closing forms, and other relevant areas in the Encompass loan file.
Benefits and Features of Ellie Mae’s Title & Closing Center:
- Seamless Integration with Encompass:
- The Title & Closing Center seamlessly integrates with Ellie Mae’s Encompass eliminating the need for separate systems and manual data entry.
- Lenders and settlement service providers can access the Title & Closing Center directly from within Encompass, ensuring a unified workflow and reducing the risk of errors or data inconsistencies.
- Automated Title Ordering and Management:
- The Title & Closing Center automates the title ordering process, simplifying communication between lenders and title service providers.
- Lenders can electronically request title orders, receive real-time status updates, and review completed title reports, all within Encompass.
- Automated title management reduces the chances of missing deadlines and enables lenders to track the progress of title orders efficiently.
- Collaboration and Communication Tools:
- The Title & Closing Center provides collaboration and communication tools that facilitate seamless interaction between lenders, settlement service providers, and other stakeholders involved in the title and closing process.
- Users can exchange messages, share documents, and request additional information within Encompass, eliminating the need for separate email chains or phone calls.
- Improved communication streamlines the process, reduces delays, and enhances overall productivity.
- Document Preparation and Delivery:
- The Title & Closing Center enables lenders to generate closing documents accurately and efficiently.
- The system offers templates for various loan types, ensuring compliance with industry regulations and standards.
- Lenders can customize the documents based on specific loan requirements and borrower information, reducing manual errors and enhancing the borrower experience.
- Completed closing documents can be securely delivered to settlement agents and borrowers through Encompass, eliminating the need for traditional mailing methods.
Looking for more information on Ellie Mae’s Title and Closing Services or need help with setting up Title and Closing Services within Encompass, leave us a message.