Item: Encompass from ICE Mortgage Technology
Rating: 7
Author: Patrick Overturf

Use Cases and Deployment Scope

Encompass is our loan origination system at OneWest Bank. We use Encompass for both our Retail and Correspondent channels. We were able to set up different workflows for the different channels. The connectivity between Encompass and third party service providers allows us to keep everything together seamlessly, and the eFolder is a great tool for images to further assist with not only keeping everything together but also making us paperless.

Pros and Cons

The incorporated compliance review by the Mavent helps to make sure we are producing compliance loans.
The EllieMae Document System is an excellent tool for preparing our disclosure and closing packages, ensuring we have compliant packages but also allowing us flexibility to add our own custom documents. The esign capabilities are a wonderful tool for making sure our clients are informed and that disclosures are documented within the tracking tool in Encompass.

EPPS - everything is hidden, the users don't know what is in there when guidelines for eligibility and pricing adjustors are programmed. This needs to be put in the hands of the clients so they can take control of their own, or pay Ellie Mae to program for them, but at least expose the details to us. The lead time quoted for a revision was 10 weeks to start after the SOW was signed, way too long and not acceptable. Plus, they could not program some of the custom fields we wanted. We had to move to Optimal Blue.
Compliance overrides - there is a not a good mechanism for compliance overrides. When Mavent gives a fail or warning that we want to override after our compliance persona has reviewed, they can't just mark it overridden, they have to perform the task, like prepare docs. Need a better way to handle these.

Return on Investment

Positive - we were able to reduce our expenses for doc drawing, eliminating a third party vendor, because EDS is built-in.
Positive - esign and fulfillment services have eliminated the mailing of packages.
Positive - EM provides a hosted version which we have taken advantage of, and eliminated the server needs internally to handle, plus we are kept up to date on the software versions.

Alternatives Considered

Lending Space, Net Oxgyen and Gallagher

Lending Space moved away from retail channel so we had to exit their system. Net Oxygen was far too open and really would have required a lot of work in order to begin using. Encompass was a known system, well respected by the smaller user, and with little work we could start using.

Other Software Used

Velocify

Likelihood to Recommend

I would say that our rollout of Encompass was less than expected. Our assigned project leader from Ellie Mae was too thinly spread over numerous clients. He always had hard stops because he had to get on another call with another client. It really was and still is the worst experience with Ellie Mae. We have had several SOWs for when we added Correspondent, and now when we are adding FHA. The system is great because there is a lot of flexibility but that can also be a hindrance. After 2 years, we are still trying to lock it down, streamline, put in added controls, etc. We are having to hire a consultant who is an expert in Encompass to come in and advise us on what we need to do, and to make the changes.