Overall Satisfaction with Encompass from Ellie Mae
We utilize Encompass in all areas of our organization. As a correspondent lender, we process and review loans prior to purchasing. Post purchase, the loan files are handled by our post-closing and accounting teams. Post servicing [the] transfer, the loan files are data mined and used for reporting and analytics. Having one system for all of the loan data during the whole lifecycle saves a lot of trouble and really streamlines our process.
- Loan file access can be controlled very easily.
- Process workflow is easily configured via customizable business rules.
- User experience is configurable via a robust SDK.
- Documentation and context aware F1 help are great.
- At times the software update details and testing are a bit lacking and this can lead to issues in production. A little bit too much reliance on a short user base testing time period seems to lead to many urgent patch fixes.
- We moved from an Excel loan tracking spreadsheet to a semi-automated workflow application. Our loan review-to-purchase times frame was reduced by 1/3.
Ellie Mae's Encompass360 product is great for any size organization, their pricing model allows it to utilized by even the smaller origination shops.