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. Where as, Mortgage bankers deal directly with the consumer in originating loan. Accordingly, the broker and banker editions have difference in their functioning.
- Compliance
| Functionality | Broker | Banker |
| ATR/QM management | No | Yes |
| ULDD delivery support | No | Yes |
| UCD delivery support | No | Yes |
| LO Compensation capabilities support for retail, wholesale, or brokered out loans | No | Yes |
2. Home page & pipeline
| Functionality | Broker | Banker |
| Customizable home page | Yes | Yes |
| Customizable pipeline | Yes | Yes |
| Dashboard & pipeline views | Yes | Yes |
| Control fields in pipeline view | No | Yes |
| Control fields in dashboard view | No | Yes |
| Instant messenger | Yes | Yes |
| Conversation log | Yes | Yes |
3. Custom workflow
| Functionality | Broker | Banker |
| Comprehensive business rules | No | Yes |
| Configurable milestone templates | No | Yes |
| Auto complete tasks based on field entry | No | Yes |
| Auto send emails based on field entry | No | Yes |
| Auto populate other fields based on field entry | No | Yes |
| Control access to fields based on persona | No | Yes |
| Control access to areas of the system based on persona | No | Yes |
| Auto change the list of viewable forms | No | Yes |
| Auto populate forms in print menu based on loan data | No | Yes |
| Required fields for printing specific forms | No | Yes |
| Business line specific control of data entry | No | Yes |
| Run custom code based on field entry | No | Yes |
4. Origination & processing support
| Functionality | Broker | Banker |
| Application | Yes | Yes |
| eDisclosures | Yes | Yes |
| eFolder access | Yes | Yes |
| Electronic document management capabilities | Yes | Yes |
| Disclosure tracking | Yes | Yes |
5. Secondary marketing
| Functionality | Broker | Banker |
| Rate lock management | No | Yes |
| Trade management for bulk sales | No | Yes |
| Secondary registration capabilities | No | Yes |
| Encompass Product & Pricing Service | No | Yes |
| Subject to implementation cost and per closed loan fee | No | Yes |
| Post closing condition tracking and tools for fulfillment of trades | No | Yes |
| Interim servicing | No | Yes |
6. Other lending functions
| Functionality | Broker | Banker |
| Underwriting | No | Yes |
| Closing functions and closing docs | No | Yes |
| Funding | No | Yes |
| Shipping | No | Yes |
| Final docs tracking | No | Yes |
Looking for more information on Encompass 360 Broker Vs Banker editions or need help in integrating right technology, leave us a message.
Take Five Consulting is a technology company, based in Virginia U.S., that specializes in the Mortgage Banking vertical especially LOS implementation and application development. Take Five Consulting creates and implement mortgage technology and software specifically for Mortgage Industry.
