Mortgage Broker's Review
August 23, 2017
Mortgage Broker's Review
Score 7 out of 10
Vetted Review
Verified User
Overall Satisfaction with Encompass from Ellie Mae
Loan Origination Software for an Arizona Licensed Mortgage Broker. Marketing prospective clients, Opening prospective loan file, Importing Credit Report and Liabilities for qualifying, Originating loan application, Sending the loan application for electronic signatures, Receiving signed electronic loan application back, Processing loan application. Clients upload their documents directly into Encompass 360 and get updates throughout the loan process.
- The closest to all in one loan origination software on the market
- Mortgage Broker LOS edition includes website with live mortgage rates
- Always has updated state and federal disclosures
- Great database for online do it yourself help
- No live phone support
- Catered for Banks, Savings & Loan, Mortgage Bankers
- You have to pay an hourly fee to get help setting up if you are a first time user with no previous Encompass 360 experience
- The overall cost for 1 year in monthly fees is less than the other leading LOS company out there. Being a novice with Encompass 360 and finding out after I signed up for a 3 year contract that you have zero phone technical support and then have to pay per hour for Ellie Mae setup... If I new that would not have made the change/switch from the previously used LOS software for 23 years.
Overall Ellie Mae is a more complete all in one software if you have time to learn it or money to spend to get it setup initially. Once you get past that point I believe the annual cost will be much cheaper than the other leading loan origination software company. If you are reading this and have been in the industry there are only two major LOSs out there and Encompass 360 is one of them.