Loan package delivery is a process which is typically manual and requires multiple follow-ups. Encompass Investor Connect is a solution from Ice Mortgage Technology to make this loan package delivery process simpler, faster and automated from start to finish.
Investor Connect provides secure, system-to-system workflows between lenders and correspondent investors for simplified data and document delivery.
Advantages of using Encompass Investor Connect:
- Faster delivery from Encompass to the investor directly from the Encompass pipeline. Loans can be send individually or as a batch of loans easily.
- Easier delivery – seamless to system integration without investor loan number requirement.
- Better quality loans with fewer steps.
- Independent study has shown that Investor Connect delivery reduces delivery time, review and purchase times.
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Lenders can save time by reducing data entry, file formatting, loan packaging, and multiple portal logins.
- All at no additional cost to lenders. Encompass investor connect is already included within the encompass package.
Encompass Investor Connect Seller Benefits:
- Time Savings:
- Average 39 minutes per loan saved.
- Package data and documents.
- Pre-delivery check for missing data.
- Instant delivery of data and documents.
- Eliminate manual data entry.
- Sales & Funding Time Compression:
- Average 1 day faster.
- • Average 40% increase in 1st pass sales with no conditions (fewer conditions/higher quality on remaining).
Access Investor Connect:
Users who have permission can access Encompass Investor Connect from the Encompass Pipeline to submit data and documents to partners for selected loans.
To Access Encompass Investor Connect:
- Select one or more loans on the Encompass Pipeline.
- When delivering 50 or fewer loans, manually select the loans on the Encompass Pipeline.
- When sending a batch delivery (51 to 1500 loans) use the Loan Folder drop-down list on the Encompass Pipeline to select the folder to be accessed, and then use the filter fields at the top of the Pipeline columns to filter for the loans that need to be delivered.
- Right-click the selected loan or loans.
- Click the Loan Delivery Services option.
- The Deliver Loans window opens.
Deliver Loans Window:
The Deliver Loans window provides a central location where users can select an Encompass Investor Connect service category, specify the partner who will receive the package, and complete details about the submission.
The Select a Category column on the left lets you select the Encompass Investor Connect service category.
A list of available partners for the selected category displays in the Deliver To column in the center of the window.
In the right column, use the Add Submission Details section to enter details for the delivery. This section allows to send a preconfigured set of documents and data to a partner. Depending on how the partner has configured the submission process, there is provision to review, add, or remove documents included in the delivery, and enter additional data fields that are required by the partner. The Add Submission Details section displays the following information:
- The partner’s logo displays at the top of the section.
- A series of fields directly below the logo are available for all partners.
- If a partner requires additional loan data, fields for the data display below the horizontal line. These fields are defined and configured by the partner. Use these fields to enter or select data that is submitted to the partner.
The options that display on the submission window are configured by each partner. Different partners might require different types of data. The options can also vary based on the different submission types a partner offers. For example, a mandatory delivery for an investor might require more data than a best effort delivery. If a Submission Type includes only documents, only document-related fields display. If a Submission Type includes only loan data, only data-related fields display.
Looking for more information on Investor Connect within Encompass or need help with setting up Investor Connect, leave us a message.
