In today’s mortgage lending landscape, maintaining data accuracy and compliance is crucial for success. Data Audit Services in Encompass 360 is a powerful tool that enables lenders to audit multiple loans simultaneously while tracking field-level changes throughout the loan lifecycle.
Understanding the Basics of Data Audit Services in Encompass 360
- Data Audit Services operates as an integral part of Encompass Data Connect, providing lenders with real-time visibility into loan file modifications and changes.
- The system maintains a detailed audit trail of every field modification, capturing who made the change, when it occurred, and what specific modifications were implemented.
- Lenders can access these reports directly through their web browser or download them as CSV files for further analysis.
Key Features and Capabilities
- The platform supports simultaneous auditing of multiple loans and fields, significantly reducing the time spent on compliance monitoring.
- Users can create customized reports by defining specific query conditions and selecting relevant data columns for analysis.
- The system offers flexible scheduling options, allowing reports to run immediately or at predetermined intervals.
Setting Up the First Audit Report
- Reports begin with a unique name identifier that helps organize and track different audit types.
- Users can define specific date retrieval periods, ranging from the last 24 hours to custom date ranges.
- The system includes robust rule filters that allow users to create complex queries based on standard Encompass fields.
Report Column Customization
- Every report includes three mandatory columns: Loan ID, User ID, and Modified UTC timestamp.
- Users can add additional columns to track specific fields of interest, creating highly targeted audit reports.
- The system supports both standard and custom fields, providing comprehensive coverage of all loan data points.
Looking for more information on Data Audit Services in Encompass 360 or need help with implementing any technology solution within Encompass, leave us a message.
