In the dynamic landscape of mortgage lending, a smooth and efficient workflow is essential for both borrowers and loan officers. Velocify, in collaboration with Encompass Consumer Connect by Ellie Mae, offers an integrated solution that seamlessly guides potential borrowers from the initial prospect stage through the entire loan application process. This article delves into the details of this integration, explaining on how the integration of Encompass Consumer Connect and Velocify transforms the borrower experience and streamlines the workflow for loan officers.
Overview of Integration: Enhancing the Borrower Experience
- The integration revolves around leveraging the capabilities of Encompass Consumer Connect to facilitate meaningful interactions with potential borrowers.
- The inclusion of the Lead Create feature is highly recommended, optimizing crucial aspects of the workflow and ensuring a smoother process for both borrowers and loan officers.
Workflow for Incomplete Submissions: Encompass to Velocify
- To maintain a streamlined process, the Encompass Consumer Connect job runs hourly, assessing the submission status of potential borrowers.
- If the borrower is actively engaged in the application process on the Encompass Consumer Connect website, but submits the application after a job has run, a record will be created in Velocify, although the application was completed in one session.
- Borrowers must input at least their first name, last name, and either a phone number, email address, or current address to send their data to Velocify.
Data Flows: Navigating Different Borrower Scenarios
Multiple Sessions:
- Borrowers initiating an application in Encompass Consumer Connect, abandoning it, and later completing it follow a specific workflow.
- After the initial input of at least their first name, last name, and contact details, the application data is sent to Velocify.
- In the event of abandonment, Velocify engages with the borrower using its communication features.
- Once the borrower resumes or starts a new application in Encompass Consumer Connect, the application data is sent to Encompass and then forwarded to Velocify, updating the existing lead.
Single Session:
- For borrowers who complete and submit their applications in one Encompass Consumer Connect session, the process involves the initial data transfer to Velocify, contingent on the Encompass Consumer Connect job running before submission.
- After completion, the application data is sent from Encompass Consumer Connect to Encompass and then relayed to Velocify, updating the existing Velocify lead.
Duplicate Management: Ensuring Data Integrity
- Incomplete applications sent from Encompass Consumer Connect to Velocify, eventually submitted as completed applications in Encompass, lead to the creation of duplicate records.
- Velocify’s duplicate management resolves this by merging the two lead records and preserving the GUID from Encompass on the merged lead.
- This ensures that all future updates to the lead are directed to the parent lead, maintaining data integrity.
Mapped Fields: Encompass Consumer Connect to Velocify Sync
Mapped fields ensure a seamless transfer of crucial information between Encompass Consumer Connect and Velocify. The following section lists all the fields synched from Encompass Consumer Connect to Velocify by Ellie Mae, arranged by category.
Borrower:
- First Name
- Last Name
- Evening Phone
- Mobile Phone
- Marital Status
- Date of Birth
- Employer Name
CoBorrower:
- Co-Borrower First Name
- Co-Borrower Last Name
- Co-Borrower Evening Phone
- Co-Borrower Email
- Co Borrower Mobile Phone
- Co Borrower Date of Birth
- Co Borrower Employer
- Co Borrower Marital Status
Property:
- Property City
- Property State
- Property Zip Code
- Property Address
- Purchase Price
- Loan Purpose
- Estimated Property Value
- Intended Property Use
- Property Type
Loan Information:
- Loan Amount
- Close Date
Other:
- Loan Officer (User)
- Last Modified in Consumer Connect
- Lead Source (Loan Application Workflow)
- SiteId
- Loan Application ID
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