Ellie Mae, an enterprise mortgage origination technology provider, has enhanced its Encompass360 Mortgage Management Solution. More than a dozen added or upgraded features constitute this release, and many of the enhancements were based on suggestions from existing system users, Ellie Mae says.
The enhancements are components of three primary areas: regulatory compliance, electronic document management and disclosure, and authorized multiparty access.
‘This release's upgrades are definitely a constructive improvement, but our favorite feature is probably the new intelligent document recognition in Encompass360's electronic data management functions,’ says Veronica Arnett, Encompass administrator for Austin, Texas-based Sente Mortgage, a beta tester of the product updates.
Arnett estimates that Encompass360's ability to recognize faxed and uploaded documents saves Sente Mortgage about 20 minutes per file.
‘When you put an hourly wage on that, you can see that we're saving quite a bit," she says.Â
Other enhancements include more configurable regulatory alerts, a more refined disclosure workflow that filters disclosures based on entity type and disclosure timing (according to channel-specific configuration), and functions that allow users to print any document from any software program directly to the loan file's specific e-folder, Ellie Mae says.
SOURCE: Ellie Mae