Even though we are in the summer season, it appears that many of our clients
have been in Audit Season since the start of the year. After years of record volume,
there has been a constant stream of audit, repurchase, and compliance requests.
‘Let’s streamline compliance’ is not a chant we hear every day in a lenders office, but
why not give it some love? Repurchases, QC and other audits, are legitimate cost
drivers for lenders and as margins (and headcount) is thin, we’re driving
improvements in all departments here. Compliance efforts touch so many
different people, screens, updates and documents – we can do better.
In a search to drive a much better compliance summary within
Encompass, we are excited to be launching our Compliance Story, which
is going to change the way compliance reviews are done within
Encompass. The Compliance Story creates a one stop shop for all of your
compliance requests within the loan file and provides any user both an
overview of critical compliance milestones and specific details about what
happened and when. This was built to not only save hours of time by
multiple users while the loan is in process, but also dramatically save
time for Post Closing file review, months or years after the file
closed. For years just about every department has had their own screen
with the exception of compliance and QC, and we’re changing that
today.
This story has been created to eliminate the complexity of Encompass
and save hours of user times by:
• Providing a central location for all of the vital compliance events
• Drive compliance driven alerts and workflows
·• Provide a welcome landing page for Compliance managers who
may not live in Encompass on a daily basis
Contact us today to schedule a demo of the new Compliance story.
The best part of being on the consulting side of the business is the
ability to see so many different business models in action. We have
completed over 500 Operational and Secondary Reviews, and through
them all we are still amazed at the findings. Some are truly eye opening
on a positive front, and others are very surprising in the way some
lenders are still operating. In most reviews, the findings lead to actions
that fall into one of three buckets:
• New items that need to be improved or introduced
• Functionality that wasn’t even known to exist
• Workflows that require additional training or enforcement
As I write this it reminds me of raising children and getting them to do
chores around the house. The three buckets are no different as they
grow and mature.
The goal of these engagements is not to provide a summary report of
unrealistic items. The goal is to address attainable areas of improvement
with clear and actionable steps to build, implement, train, and support
improved processes and workflows.
Our Encompass based Operational Review and our Encompass
based Connect Utilization and Encompass Makeover engagements
utilize our expertise and translate them to your business model.
Need some margin help? In this market who doesn’t? Look no further
than our Secondary expert, Jonathan Yosha. He can find pockets or
margin all throughout his Secondary Review process. Our Secondary
Special Forces engagement brings Jonathan to your Secondary process
where he applies night vision goggles to find those elusive crumbs or
entire slices of margin that are either leaking or simply left of the table.
As technology, execution strategies, and vendors (PPEs, hedging models)
have shifted over the last 12 months while the market has seen historic
rate increases and margin depression, who couldn’t use a little, or a lot,
of help?
Do you know what the biggest hurdle companies are facing in
technology projects? User adoption. And the biggest challenge to
adoption is proper training for the new system or application.
Our trainer, Jaime Rowe continues to excel in all aspects of training for
all applications within an organization. From POS, LOS, CRM, Jaime can
speak to them all and how they work within your organization. Our
Encompass based Training engagement trains your team how to adopt
and make best use of the applications within your workflow.
Encompass Web or LO Connect is making strides and we are offering a
number of new offerings to help you get introduced to some key
components. The Encompass Web Starter Kit and the Encompass Web
Task Based workflow have been created to help you get started on the
transition to Encompass Web.
Thank you for reading. All of these engagements are being
offered at a discount of 20%.We are hoping to get these
projects up and running before the summer comes to close.
