Overview of AIQ within Encompass – Part II - Mortgage Banking Technology

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 borrower’s income.
The analyzers are used to analyze income data from a loan in Encompass, compare it to income documents for the loan, and identify any discrepancies that need to be addressed.
Users who have been given permission to access the AIQ Income Analyzers can view and click the AIQ Analyzers button in the loan file header.

AIQ Alerts & Messages

Two new categories of alerts are now available on the AIQ Alerts & Messages tab on the upper-left of the Loan Workspace in an Encompass loan file.
An Encompass user who has access to the service can view a green Credit Analyzer alert and click a green Income Analyzer alert entry on the tab to open the Income Analyzer Message window.

When file attachments for income-related documents are imported into a loan, the AIQ Income Analyzer scans the data in the attachments and compares it to the data in the Verification of Employment (VOE) income records in the loan.
The alert is generated when the AIQ Income Analyzer has finished analyzing the data.
Encompass users can use the information in the alert to compare and reconcile any incomes data differences between the document attachments and the VOE records.
When you click an Income Analyzer alert, the window shown below opens in the Loan Workspace.

At the top of the Income Comparison section are one or more buttons that display the names of the borrowers for the loan in the following order:
- the primary borrower in the first borrower pair,
- the co-borrower in the first borrower pair,
- the primary borrower in the second borrower pair,
- the co-borrower in the second borrower pair, and so forth for each of the remaining borrower pairs in the loan.
The primary borrower for the first borrower pair is selected by default. The selected borrower’s name displays in red text.
When you click the button for a borrower, income data displays for that borrower.
When there is no data for a selected borrower, a No information returned message displays below the borrower buttons.

When there is data for the selected borrower, the following sections display on the window:
- The Current section includes up to two entries for current employment records.

- The Prior section includes an entry for one prior employment records.
Each of the Current and Prior sections includes an Employment Data section and a Monthly Income (or loss) section.
- Employment Data – This section includes rows for the following information:
  - Employer (Business Name)
  - Start Date
  - End Date – This row displays only for Prior employment.

- Monthly Income (or loss) – This section includes rows for the following information:
  - Base Income
  - Overtime
  - Bonus
  - Commission
  - Military Entitlement
  - Other
Two columns enable users to perform a side-by-side comparison of the AIQ and Encompass data.
- AIQ Income Analyzer – This column shows data from the AIQ Income Analyzer
- Encompass Data – This column shows data from the Encompass VOE record.
A red Exclamation Point icon displays to the right of the Encompass Data column for any fields that do not match.
By default, data is mapped base on the borrower name and the employer name. Each employment record shown in the alert window has a Match VOE Record drop-down list that users can click to map the AIQ data to a different Encompass VOE record.

The drop-down list in the Current sections displays only current VOEs in Encompass. By default, the first current VOE displays. The drop-down in the Prior sections displays only prior VOEs in Encompass.
By default, the first prior VOE displays. The drop-down is disabled if there are no current or prior VOEs. Each AIQ employment record is assigned to one Encompass VOE. Each Encompass VOE is assigned to only one AIQ employment record.

Users can decide whether to retain the AIQ Income Analyzer data mapping to the default Encompass VOE, select a different Encompass VOE, or select the Create New VOE option in the drop-down list to create a new Encompass VOE using the AIQ Income Analyzer data.
If more than two Employment Data records in the AIQ Income Analyzer column are mapped to the same VOE record in Encompass, the following message displays. Select a different Match VOE Record option for one of the records.

After making the selection, the user clicks the Import Data button in the Income Comparison header to copy the information from the AIQ Income Analyzer to the selected VOE option. After a user clicks the Import Data button, a confirmation message displays to remind the user that importing the data will replace the income amounts on the existing VOEs.