Popular Choice for lenders
January 25, 2018

Popular Choice for lenders

Leanne Holzer | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Encompass from Ellie Mae

Ellie Mae Encompass has allowed us to ensure our loans are compliant and has streamlined the way to originate and close mortgages. We have been able to close loans with ease and monitor compliance through the entire transaction. The software is suited to all borrowers whether they are tech savvy or not. We can also originate loans in market areas where we have no physical presence with ease. It's also going to save me a tremendous amount of time by being able to do transactions paperless.
  • The Web Center allows us to compete in our market and also allows us to continue to originate loans in markets where we don't have a physical originator.
  • The software is easy to use so it allows us to train staff very quickly so they can start producing mortgages.
  • I appreciate receiving information on upcoming updates well before they take place so that I can review the updates and inform the staff of changes they need to be aware of.
  • I would like to see more practical training maybe similar to the video introductory training on practical applications. I am a small lender so administering the software can prove to be very difficult at times.
  • I would like to see practical training on issues like "going paperless" and how exactly to set that up. It would be helpful to have that type of training in the form of a video.
  • I would like to have control of adding the closing documents myself rather than having to request them.
  • The software loads very slowly.
  • One of the items that were difficult initially is that we pay for the software and have to pay an additional monthly fee for each closing package. For a small lender that is a huge expense.
  • The online application is a great asset to us and is going to help us to be competitive in our market.
I initially considered other origination software but decided on Encompass because of the other lenders in my area that are also using it, and because it has so many built-in exports.
It offers lenders comfort in knowing that it's compliant especially in today's regulatory world where it can be a burden and almost impossible to keep up with all of the changes. The downside to Encompass is that it is just a complex and robust system which is often more than small lenders need even though the setup remains the same. There are aspects of the software that I will never use as a smaller lender.