The Encompass eFolder is a powerful central hub for managing electronic documents and conditions associated with mortgage loans. This robust tool streamlines the entire loan process, from document collection to underwriting and closing. In this detailed guide, we’ll explore every aspect of the Encompass eFolder, providing mortgage lenders with the knowledge to optimize their workflow and boost productivity.
Requesting Documents and Services
- Use the Request button on the eFolder Documents tab to obtain essential documents from borrowers and settlement services.
- Request two types of borrower documents:
- Documents for electronic signing (eSigning)
- Documents for printing and faxing (wet signing)
- Request “Needed” documents, such as pay stubs, directly from borrowers.
- Order settlement services electronically from service providers through the Ellie Mae Network transaction system.
Granting Document Access to Underwriters
- Select specific documents for underwriter review using the Set Document Access icon.
- This feature allows precise control over which documents underwriters can access, maintaining security and efficiency.
Creating and Managing Conditions
- Create, fulfill, and clear preliminary and post-closing conditions directly within the eFolder.
- Use the New icon on the Underwriting Conditions tab to create conditions from scratch.
- Add conditions from Condition Sets, which are predefined templates of underwriting and post-closing conditions.
- Import preliminary conditions if available.
- Associate conditions with specific documents to easily access related file attachments.
Retrieving Documents and Services
- Utilize the Retrieve button on the eFolder Documents tab to collect files returned electronically by borrowers or settlement service providers.
- Benefit from automatic attachment of retrieved files to the eFolder and assignment to appropriate documents.
- Manually drag and drop unrecognized documents to the correct eFolder location if the auto-assign feature doesn’t identify them.
Reviewing Documents
- Underwriters can review documents individually by opening the Document Details window for each item.
- Use the Document Manager to view multiple documents from a single window, enhancing efficiency.
- In the Document Details window:
- The Details section contains basic document information.
- The Tracking section records the document’s status.
- The Files section is used to view and manage files assigned to the document.
- In the Document Manager:
- The Document Details tab contains comprehensive document information.
- The Files tab lists all files assigned to the document.
- Use the viewing panel to review the assigned files directly.
Fulfilling and Clearing Conditions
- Identify documents with conditions by the yellow condition icon on the Documents tab.
- To fulfill conditions:
- Open the Underwriting Conditions tab.
- Select a condition and click the Edit icon to access the Condition Details window.
- Resolve issues outlined in the condition.
- Select the Fulfilled checkbox in the Condition Details window.
- To clear conditions:
- Underwriters review fulfilled conditions on the Underwriting Conditions tab.
- Open the Condition Details window for the relevant condition.
- If successfully fulfilled, select the Cleared checkbox to update the condition’s status.
- Alternatively, reject the condition if it doesn’t meet requirements.
Requesting eConsent
- Use the Send Consent window to send borrowers a link to the agreement they must accept before receiving documents electronically.
- Access the eConsent feature through multiple entry points:
- Click the View Details button on an eConsent Not Yet Received alert window.
- Use the eConsent button on the eFolder Documents tab.
- Access via the eConsent button on the Disclosure Audit when sending an eDisclosure package.
- Use the eConsent button on the Closing Docs Audit window when ordering pre-closing documents.
Enhancing Document Security and Access
- Benefit from comprehensive tracking of all document-related activities throughout the loan process.
- Set specific document access rights to maintain security and compliance.
- Use the File Manager feature for additional organization and management of loan-related files.
Leveraging the Document Manager for Underwriters
- Access the Document Manager from the Underwriting Documents tab.
- Review multiple documents efficiently from a centralized location.
- Utilize the Document Details tab for comprehensive information on each document.
- View and manage all files assigned to a document through the Files tab.
- Take advantage of the built-in viewing panel for direct document review.
Optimizing Workflow with Alerts and Notifications
- Benefit from alert windows, such as the “eConsent Not Yet Received” notification, to stay informed of pending actions.
- Use these alerts to maintain a smooth workflow and ensure timely completion of critical tasks.
Integrating with Other Encompass Features
- Experience seamless integration with other Encompass functionalities, including:
- Disclosure Audit
- Closing Docs Audit
- This integration ensures a cohesive and efficient mortgage processing experience across all loan stages.
Looking for more information on Encompass eFolder or need help with implementing any technology solution within Encompass, leave us a message.
