The TQL Services tool within Encompass provides a single location to review 4506-C tax transcripts, fraud reports, Automated Valuation Model (AVM) reports, compliance reviews, and flood service reports ordered from within Encompass. Loan team members can view the status and other details about these documents, helping to ensure that loans meet total quality loan (TQL) standards.
Users can also share documents associated with these services with the investors from this tool, enabling them to review the fraud reports, 4506-C transcripts, fraud reports, AVM reports, compliance reviews, and flood service reports to ensure loans meet their loan quality requirements.
1. 4506-C Service
- Authorized users can leverage the 4506-C Service to request transcripts of borrowers’ tax returns using the Request for Transcript of Tax form.
- This service facilitates the verification of borrower-provided tax information by ordering electronic copies of 4506-C tax reports from within Encompass.
- Integration is available with CoreLogic and DataVerify for seamless operations.
2. Fraud Service
- The Fraud Service in Encompass enables authorized users to order a comprehensive fraud review.
- It identifies irregular or suspicious information within the loan file, helping assess the loan’s fraud risk.
- Integration is available with CoreLogic, DataVerify, and First American FraudGuard for robust fraud detection.
3. Encompass Compliance Service
- Authorized users can perform compliance checks at any stage of the loan process using the Encompass Compliance Service.
- This service reviews loans for compliance issues based on various industry regulations and mandates, including Truth in Lending (TIL), HOEPA, State and Local High Cost, and State Consumer Credit.
- Generates a compliance report detailing issues and exceptions, as well as areas that successfully passed the review.
4. Valuation Service Orders
- This section caters to authorized users publishing loans to Citibank via TQL Services.
- It allows the ordering of Automated Valuation Model (AVM) reports through the Correspondent Collateral Valuation Program (CCVP) provided by CoreLogic.
- CCVP reports provide estimated property values, a crucial factor for loan publication.
5. Flood Orders
- Authorized users can electronically order flood zone determinations from flood service providers using the Encompass Flood Service panel.
- The service also facilitates the management of returned flood certificates within Encompass.
- Powered by ServiceLink National Flood and CoreLogic, this service streamlines flood order processing.
6. Mortgage Insurance
- Users can seamlessly place and manage Mortgage Insurance (MI) orders with designated MI vendors through the Encompass Mortgage Insurance Service Orders panel.
- It provides updates on order details once the loan is submitted to the MI vendor.
- The Mortgage Insurance white papers on the TQL Services Guides & Documents page offer comprehensive information.
- The Comments section allows users to enter general and service-specific comments, visible to investors during loan publication.
- Entries are organized chronologically, with clear service categorization.
8. ATR/QM Documents
- In addition to TQL documents like 4506-C tax transcripts and fraud reports, ATR/QM supporting documents and the ATR/QM output form are sent to TQL investors.
- Accessible in the Verification and Documentation Tracking Tool, these documents are marked as ATR/QM in the Document Details window in the eFolder.
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