A milestone is a step in the workflow that defines loan activities and the role that carries out those activities. When activities are completed, the milestone is marked as finished, and work begins on the next milestone. This blog explores about navigating milestones in Encompass web version.
Select the Timeline icon to view the loan’s milestones and the loan’s current position in the loan workflow. Additionally, the date that a milestone was completed or the date that a milestone is expected to be completed displays under the milestone name in the Timeline.
Milestones
The Milestone Details window enables users to make comments on milestones, view the days to finish the milestone, change milestone dates, accept the loan file, or return the file to the sender. When the user selects a milestone, the Complete Milestone window displays.
Comments Tab:
Users can view any comments on for the milestone and can add their own comments. To view all comments associated with all milestones, select Show All.
Details:
The Details tab enables users to view who the loan is currently assigned to, assign loans to other users, view the expected days and date to finish the milestone, and more.
Change Milestone Dates
The Change Milestone Dates window enables users to update the dates related to the milestone. There is also an If date is changed, automatically recalculate all subsequent dates which enables the system to automatically recalculate the expected completion date for all unfinished milestones. When a user utilizes this option, the date is recalculated based on your administrator’s settings in the Milestone settings. If this checkbox (please see the screenshot below) is selected, only the dates for the milestones that occur after that milestone are recalculated.
If this checkbox is not selected (or cleared), the expected completion date for all other unfinished milestones in the milestone template will not be recalculated when you change a milestone’s expected completion date. This enables you to change a date without affecting any other dates.
To Select the New Option:
- From the Milestone Worksheet on a loan file, select Change Milestone Date.
- On the Change Milestone Dates window, select If date is changed, automatically recalculate all subsequent dates.
Show Fulfilled Data
The Show Fulfilled Data option enables users to view all required milestone items that have already been completed on the milestone. When the Show Fulfilled Data option is selected, the following indicators enable users to differentiate what has been fulfilled already:
- Documents have a Yes indicator in the Received column.
- Completed tasks have a line through them.
- Fulfilled fields show the field value.
To Use the Show Fulfilled Data Option:
- From a loan, select the Milestone Timeline icon and then select Milestone Details.
- Select Show Fulfilled Data.
Recording Milestone Activities:
This section describes how to use the options on the milestone details window. The information you see on a milestone details window, and the activities you are permitted or required to complete, is based on the configuration of each milestone and your individual user settings.
To View the Milestone Details:
- From a loan, select the Milestone Timeline icon and then select Milestone Details.
- On the Comments tab, select Show All to view all comments on all milestones.
- To add a comment, enter the comment and then select Add Comment.
- To move to the Details tab, select Save & Continue.
- To assign a new loan officer, select the Search icon in the Loan Officer field.
- Select the loan officer from the drop-down list, and then select Apply.
- To assign to a User Group, select Assign to User Group and then select the user group from the drop-down list.
- To assign a new loan processor, select the Search icon in the Loan Processor field.
- Select the loan processor from the drop-down list, and then select Apply.
- To assign to a User Group, select Assign to User Group and then select the user group from the drop-down list.
- To change the milestone date, select Change Milestone Date.
- On the Change Milestone Dates, window, select or enter the updated date for one or more milestones, and then select Apply.
To Accept or Reject a Loan File:
When a loan is assigned to a new loan officer or loan processor, the new assigned user can choose to accept the loan file or return the file to the original sender. The newly assigned user can then either accept or reject the loan file.
- From the loan that has been assigned, navigate to the Details tab on the Milestone Details window.
- To accept the loan file select Accept File.
- To reject the loan file, select Return to Sender to return the loan to the originally assigned user.
To Move a Loan to a New Milestone in Desktop or Tablet:
- From a loan file, select the Milestone Timeline icon.
- Select the Milestone Worksheet icon to move the loan to the next milestone.
- The Complete Milestone window displays. Select Complete Milestone.
- If any milestone completion business rules are triggered, the user is able to satisfy those conditions on this window.
- On the Documents tab, select the documents that were received and select Save & Continue.
On the Tasks tab, select the tasks that have been completed and then select Save & Continue.
On the Fields tab, enter the missing required field data and then select Save and Continue.
On the Assigned Users(s) tab, select the user or user group to assign the loan to and then select Complete Milestone.
Note: If the Documents, Tasks, or Fields tab had items that are not satisfied you are not able to complete the milestone.
To Move a Loan to a New Milestone in a Mobile View:
- From a loan file, navigate to the Milestone Timeline and select the Milestone Worksheet icon to move the loan to the next milestone.
- If any milestone completion business rules are triggered, the user receives a warning message.
To complete the required fields, select Yes.
Note: If you have Document or Task requirements, these will need to be completed in Encompass before the milestone can be moved.
4. Enter the required fields, and then select Save.
5. When all conditions have been satisfied, select the user or user group to assign the loan to and then select Complete Milestone.
Looking for more information on navigating milestones in Encompass web version or need help with implementing any technology solution within Encompass, leave us a message.
