Instant Compliance Checks Right in Your Software
How do you handle regulatory compliance today? If it’s
not with an automated service, you could be putting your
company at risk.
Think about it: how can one person—or even one
company—keep up with all of the complex federal and state
residential mortgage lending laws and regulations?
Especially when they keep changing.
With the Encompass Compliance Service, you don’t have to
worry about checking off a laundry list or keeping up with
every little change. The service does it for you.
How it works is easy. You can set the service to run
automatically for all of your loans in Encompass360, or you
can choose when to activate it. You pick the milestones when
you want the review to take place—such as when you send the
loan to processing or at loan approval—and you’re done. At
each point you specified, the service will automatically
review your loan for potential violations. You’ll get a
pass/fail notice and if your loan fails, problem areas will
be highlighted so you know what to fix.
What Makes the Encompass Compliance Service Stand Out?
- Powered by Mavent technology—the technology used by
some of the nation’s top investors
- Integrated in Encompass360
- Multiple, automated checks throughout the
origination process, with no change to the per-file fee
- Built into your workflow—no need to train additional
staff or change your existing business process
- Checks loans against complex federal and state laws
and regulations
- Consistent reviews across all loan files—lessens the
risk of variations possible with manual reviews
- Maintained by a staff of Ellie Mae compliance
attorneys and reviewed by outside counsel
- Clear pass/fail notice and highlight of any problem
data to fix
- Easy to set up and use
Three Review Options
The Encompass Compliance Service has review packages for
all budgets and business needs.
| Feature |
Standard |
Premium |
Custom |
| Option to set manual or automatic file review |
|
|
|
| Option to run review at multiple loan milestones |
|
|
|
| Highlight of potentially problematic data |
|
|
|
| Custom Rules |
|
|
|
| Included Reviews |
Standard |
Premium |
Custom |
| Federal Truth in Lending Act Tolerance Tests |
|
|
|
| Federal (HOEPA), State, and Local High Cost Thresholds Review |
|
|
|
| Fannie Mae Points & Fees and “HUD-HOEPA” Mortgage Thresholds
Review |
|
|
|
| Higher Priced Mortgage Review |
|
|
|
| State Consumer Credit Law Review |
|
|
|
| Home Mortgage Disclosure Act (HMDA) Review |
|
|
|
| Licensing Tests |
|
|
|
| CRAx |
|
|
|
Get Started Today
Get started with the Encompass Compliance Service today!
You can review package and pricing options and sign up for
the service right in your Encompass360 software. Go to the
Settings Tab » License Management » Compliance Review and
a set-up
wizard will walk you through every step of the process. Or, if you’d like to learn
more call us at 888.955.9100.
