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.
- They are new advanced conditions that can be created and used to support condition customization at a condition level and field level.
- It helps in enabling the condition reports to be generated across multiple loans (both of which are not supported by the standard conditions provided in earlier versions of Encompass).
- They are supported for use with Encompass loan files, and loan files in Encompass LO Connect and Encompass TPO Connect.
- The new settings that are used to create and manage these conditions are available in Encompass only.
- In order to use this feature, administrator must configure Encompass to use both these Conditions and Investor Connect and the investor partner must have enabled the workflow for electronically sending conditions between lenders and partners via Encompass Investor Connect.
- Enhanced migration tool has been released.
- There is a provision to auto publish these conditions to TPO connect loans.
- The loan team member can add, edit, view and track these conditions.
- Virtual fields for these conditions will be supported on custom output forms upon the release of Encompass 20.2 December Service Pack Release.
Enhanced Condition tool:
- It is used to convert existing standard conditions used in earlier versions of Encompass to new enhanced conditions.
- Also, they can be migrated from the test Encompass instance to the production instance using this tool.
Reporting on Conditions
- The Encompass TPO Connect Reporting feature now enables configurable condition reporting. An Encompass TPO Connect administrator can create reports that include any Reporting Database fields with filtering, default sort order, optional header summary data, and printing/exporting.
Enhanced Conditions APIs
Encompass Developer Connect allows developers to create, configure, and manage Enhanced Conditions programmatically through REST APIs. Encompass Developer Connect provides the following sets of APIs for Enhanced Conditions:
- Managing Enhanced Conditions. These APIs allow Encompass Web and Encompass TPO Connect to access Enhanced Conditions metadata for managing loan and document conditions in a loan file. These APIs provide methods to retrieve, add, remove, update and delete these conditions in a condition set, to manage condition comments, and to assign or unassign condition documents. The Enhanced Conditions APIs are described in detail in the next section, APIs for Managing Enhanced Conditions.
- Enhanced Conditions Settings. These APIs create and define condition types, statuses, sources, recipients and Prior To values, as well as define which actions can be taken on a given condition template based on multiple factors, including the user’s role.
- Automated Conditions Evaluator. This API evaluates the Automated Conditions Business Rules set up in Encompass Settings and returns the list of condition templates that can be applied to the loan, based on a given state of the loan.
To know more, please refer the video:
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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.