Mortgage Lenders can save time by giving borrowers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates. Please find below a detailed overview(including screenshots) of the borrower portal within Encompass Consumer Connect from a loan officer’s and a borrower’s perspective.
This blog is the second part in the series of blogs about borrower portal within Encompass Consumer Connect. Please follow the URL below to read the first part:
Overview of Borrower Portal within Encompass Consumer Connect
Sending eConsent Requests:
Before borrowers can receive loan documents electronically, they must review and accept the eDisclosures Agreement. Use the eConsent Request in Encompass eFolder feature to send borrowers an email with a link to the eDisclosures Agreement form.
There are four ways to send eConsent requests to borrowers:
- When enough loan information has been collected to require that an eDisclosure package (initial disclosures) be sent to the borrower, a Send Initial Disclosures alert displays. An eConsent Not Yet Received alert displays in the same alert window. Click the View Details button to open the Send Consent window.
- On the eFolder Documents tab, click the eConsent button to open the Send Consent window.
- When you send an eDisclosures package, an eConsent button displays on the Disclosure Audit window if all borrowers associated with the loan have not yet provided consent. Click the button to open the Send Consent window.
- When you send a Pre-Closing Disclosure package, an eConsent button displays on the Closing Docs Audit window if all borrowers associated with the loan have not yet provided consent. Click the button to open the Send Consent window.
To Send a Request:
- In the Encompass eFolder, click the eConsent button.
The Send Consent window opens.
- Select the Sender type. You can choose from the following:
- Current User
- File Starter
- Loan Officer
The Name and Email fields are populated based on your selection. If no name or email is listed in the File Contacts tool for the Encompass user associated with the option selected, the fields are blank and editable. Data entered in a blank field is then saved back to the File Contacts tool.
- Select or clear the check boxes to send the emails to the Borrower and/or Co-Borrower.
- In the Authorization Code fields, enter a 4-to-10-digit authorization code for each of the selected recipients.
After the request is sent, the authorization code fields become read-only on the Send Consent window and on any subsequent Send windows where the fields display (for example, the Send Request, Send eDisclosure, Send files, and Send Notification Email windows). A recipient enters the authorization code only once when accessing the loan on the Consumer Connect site for the first time. The recipient does not need to enter the code again after accessing the loan for the first time.
- The authorization codes are not automatically sent to borrowers. The Encompass user must contact borrowers to provide them with the codes.
- In the Subject field, select an email template as needed.
- Select the Notify me when borrower receives the package check box to receive an email notification when the borrower receives the request.
- Select the Notify me when borrower does not accept by check box, and select a date to receive an email notification when the borrower does not accept the package by the selected date.
- Click the Notify Additional Users button to add users to the list of user who will receive email notification when the request is sent and when notifications or alerts related to the request are generated for the sender.
- Click Send.
A standard email containing a link to the Consumer Connect borrower portal is sent. The email recipients create their own login information if they have not done so already, log in to the site, and then view the documents.
Borrower experience – creating an account and signing eConsent:
- Borrower will receive an email with a link to the Consumer Connect portal.
- Double click on the link to go to the portal.
Click on “Create an Account” (Only if the borrower hasn’t created an account earlier)
Fill in the requested information including first name, last name, email address (make sure to use the email address on the application), cell phone number (for two-factor authentication), and create a username.
Create a password with at least 8 characters, using complex characters for security purposes.- Click on “Create an Account” to create the account.
- Check the email for a verification link, as the email will expire within an hour.
- Click on the verification link in the email to verify the email address.
- Once verified, login with your username and password on the Consumer Connect portal.
- Enter the authorization code, which is informed to the borrower by the Encompass user.
Review the electronic consent, scroll to the bottom of the page, and click “Agree.”
The borrower can now sign documents for the loan electronically.
Lenders can manage the Borrower Portal settings to provide a seamless experience for the borrowers in a manner which they deem fit.
Looking for more information on setting up Borrower Portal within Encompass Consumer Connect or need help with setting up Consumer Connect, leave us a message.
