Encompass Underwriting File Flow

Please Don’t Take My Paper Files Away!

What We Love About Paper Files

• Stacked anyway we wanted them.

• Can quickly locate anything in them.

• Had “physical” papers to review with anyone.

• Hard copy to pass on to the next person.

• Anyone else could pick up your file and see what you are trying to get accomplished.

What Paper Files Lack

• Inefficient, Inefficient, Inefficient.

• Documents had to be printed, stacked, organized for each step.

• Shipping/Post Closing mess to scan and send to investor.

• Once a document is lost, it’s lost forever.

What Encompass Brings To Underwriting

• Accessability-”One Stop Shopping” for all points. Origination, Processing, Underwriting, Closing, Shipping, Post Close all working from same file. Anyone can access the file at anytime and reference all necessary information.

• Efficient-No more printing, scanning, etc. Everything can be transferred to end investor from Encompass.

Even With “Benefits” Can Encompass Be User (Underwriter) Friendly

• Encompass can seem overbearing, confusing, and down right scary.

• The more you work with it, the more you will see benefits.

• Tips To Streamline And Get The Most Out Of Encompass, Use It To Your Advantage.

• Some things within Encompass are customizable for each individual user.

What Tools Should I Have?

• Strong Drink! (Caffeine Of Course) • Internet Connection • Dual Screens • Basic Terminology

– Buckets-Any Document In Document List-Do NOT Create Your Own Document/Bucket.

– Doc Groups-New Feature In Encompass-We Will Go Over This In The Next Few Slides.

– File Manager-Where ALL Documents Reside. – Comment VS Conversation Log – Assigning Documents/Document Manager

Great!...There’s A File In My Queue…Now What?

• Where To Start-Underwriting Checklist-This Is The Only Document I Print/Scan.

• Open Underwriting File And The Init Screen Should Be The First Thing You See

Init Underwrite Screen Complete Processor & Accept File

Clear Alerts

• Click on each red alert individually.

Complete The Submitted To UW Date Underwriter Summary Screen Page 2

Make Sure You Have All Applicable Forms In Your List

• I will mark the boxes for Show All and Show In Alpha Order. Completely up to you. Sometimes if there has been a program change Encompass will not change the forms in the list.

Efolder

• How To Access

Underwriting View

Efolder CleanUp

• Remove/Delete any bucket that does not have an attachment.

How To Remove Buckets

Combine Duplicate Buckets

Once You Combine A Bucket The Empty Bucket Can Then Be Deleted

Snip It Of Borrower/Co-Borrower (Non Married Or NOCB) Loan

Buckets Are Not Really Duplicates

How To Make A Bucket Borrower Specific

Once Efolder Is Organized-Quick Check

• Lock Confirmation • USPS Verification • Homeowner’s Insurance Policy • Flood Cert • Title Fee Sheet • Wiring Instructions • Closing Protection Letter • Title Company E&O Insurance • Closing Doc Request • FHA Case # Assignment • FHA-Appraisal Logging • VA 28-1880 Eligibility Certificate • Disaster Certification

• 1003-URLA Initial, HUD-92900-A Addendum Initial, VA 26-Initial 1802A Addendum

• Credit Report • Credit Supplement • LDP/GSA • CAIVRS • Paystubs-Current • Verification Of Employment • Assets-Bank Statements, Retirement

Account Statements, Investment/Stock Statements/Other

• Purchase Contract • Title Report • Appraisal • Tax Transcripts • Underwriting (Findings)

How To Add A Bucket

• Choose Add A New Document

How Encompass Is “Old School”

• Paper Files-Stacked How We Wanted-In Sections/Categories…Initial, Credit, Income, Assets…Etc.

• Most Of Us Are Probably Going Through Each Document In The Efolder-One By One-Everything Is Alphabetical.

Introducing-DOC GROUPS!

List Of Doc Groups/What You Can Expect To See

• (All Documents) • Assets • Credit • Income • Property • FHA/VA • UW • USDA • Initial

(All Documents)

Will Show Anything Currently In Efolder

Assets

Anything asset related

Gift, Bank Statements, Retirement Statements, EM, Etc.

Credit

Credit report, supplements, divorce decrees, BK’s, Inquiry Letter, Etc.

Income

Paystubs, Verifications, LOE for Income, Transcripts, W-2’s, Etc.

Property

Appraisal, CPL, Flood, Insurance, Lock, Plat, Purchase Contract, Title Documents, Etc.

FHA/VA

Case Number, CAIVRS, VA Forms, Etc.

UW

Final UW Docs-1003’s, LDP/GSA, Lock, Findings, Etc.

USDA

Conditional Commitment, USDA Income Forms, Etc.

Initial

1003, Good Faith, COC’s, TIL’s, Etc.

When Underwriting Is Complete I…

• Complete All Encompass Data (Pertinent Screens Including FHA Management Screens, USDA Management Screens, Underwriter Summary Screens, Transmittals, Etc.), Compliance Review, Run AUS, FG, File Contacts, SSR’s.

• Complete Underwriting Checklist

• Type Conditions In

FHA Management

• Brett’s Email Regarding The Recent Changes For FHA Case Number Entry

• Make Sure These Screens Are Completed.

Rental Income

Rental Income

How To Add Conditions

• “Free Form” My Conditions Or Conditions Set

Once All Conditions In I…

• Generate The Loan Decision From Encompass, Upload Under Loan Approval Bucket And Email To Processor And Loan Officer

• Mark The Finished Box In Init Underwrite Screen, Save Loan.

Loan Decision

In Order To Print Most Things From Custom Forms-Must Hit Preview

• Once You Hit Preview Your Form Will Show Up Or You Will Receive A Microsoft Word Icon On Your Toolbar

• Once you see the form you can alter somethings on it. Get with me after and I can show you how to # your conditions, etc.

• Print/Save To Desktop Then Upload To Encompass.

How To Clear Conditions/Finish A File

• Processing Should Upload And Assign Appropriate Documents To Conditions.

When You Get Conditions Back

2 Options For Assigning Documents Documents Must First Be In Efolder

To Clear Just Mark Appropriate Box

Once All Conditions Are Cleared, All Final Alerts Cleared, SSR’s Done, Etc.

Final Notes/Tricks/Suggestions

How To Manage Duplicate Buckets

I prefer one bucket for each document. For example…if I request an appraisal correction sometimes the processor will create another duplicate “Appraisal” bucket. If that happens I move all appraisals in to one bucket and mark/unmark the “Current Version” box so that only the correct appraisal will be sent to investor. This will also work for any documents that you don’t want to go to investor.

Deleting Removing Documents From Efolder

You can highlight any document within a bucket and mark the “X” to delete it. Encompass should just take this document and place it in the File Manager.

Communicating Within Encompass

Document/Bucket

Comment Box

Next Time That Person Opens Encompass They Will See Bold

Communicating Within Encompass

Sometimes something that is submitted does not clear the condition. When that happens, I will make a comment in the condition.

Questions/Discussion