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 the right opportunity for mortgage banks to utilize both these platforms to the right potential.
Advantages of integration of Jungo with Encompass 360:
- One of the most significant benefits is the elimination of duplicate data entry.
- Jungo can automatically populate borrower and loan data into Encompass 360, reducing the risk of errors and saving time for loan officers.
- This integration can streamline the loan origination process. For example, loan officers can use Jungo to track and manage loan applications, and Encompass 360 to perform automated underwriting, document management, and compliance checks.
- This can help reduce the time required to process a loan application and improve the borrower experience.
- The integration can also provide real-time data insights that can help mortgage professionals make more informed decisions.
- The integration can also help to improve collaboration and communication between different teams involved in the mortgage origination process.
Technical Details of the Integration of Jungo with Encompass 360:
- This integration is accomplished through a bi-directional data synchronization process.
- There are two main types of integration between Jungo and Encompass 360: a direct API integration and a data feed integration.
- The direct API integration allows Jungo and Encompass 360 to communicate directly with each other, allowing for real-time data synchronization and a seamless user experience.
- The data feed integration, on the other hand, involves a batch process where data is exported from Jungo and imported into Encompass 360 on a regular basis.
- To set up the integration, mortgage lenders will need to work closely with a technical support team.
- The technical team will provide instructions for configuring the integration, which involves setting up the appropriate API connections between the two systems.
- In order to ensure a successful integration, it is important to properly map data fields between the two systems.
- This includes mapping borrower and loan data fields, as well as custom fields and workflows that may be unique to each mortgage professional’s business.
- The data import wizard within Jungo can be utilized for batch data export process from Encompass 360.
- Additional customizations can be done on a need basis once the initial integration setup is ready.
Challenges of the integration:
- One of the biggest challenges is ensuring that both systems are set up correctly and configured to work together seamlessly.
- To overcome this challenge, mortgage lenders can work closely with the technical support team to ensure that the integration is set up correctly and all necessary configurations are in place.
- Additionally, mortgage lenders can provide comprehensive training to their employees to ensure that they are properly trained on how to use both systems.
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