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  • Encompass Product
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Meet Profit, Compliance and Efficiency Challenges Head On

With Encompass Product and Pricing Service, you don’t have to worry about the time, errors and potential compliance violations that can come with a manual process—not to mention the rate and pricing changes missed that can affect your bottom line. The product and pricing engine does it for you.

Simplifying process is always an attractive proposition—but not if it comes at the expense of quality and compliance. With Encompass Product and Pricing Service, you can have all three: less fuss, less risk and better profit margins for your company.

The pricing engine is integrated right inside Encompass360^® so you can automatically search for and sort results right from your software. Data flows back and forth from the engine to your loan file so you can be assured that information is accurate and complete. And if your loan scenario rates and prices change, you know right away—before your profit margins are affected.

Working with Encompass Product and Pricing Service in Encompass360^®, you can:

• Save time and data entry with a seamless two-way workflow that sends information directly from your loan file to the product and pricing engine and adjustment information directly back into your Encompass360 lock request form and secondary registration tool.
• Jump directly from your loan file to product and pricing eligibility results and easily find the best program by sorting by target price, rate, investor and more.
• Easily create price holdbacks to automatically incorporate consistent LO compensation into loan pricing and ensure that it includes your desired profit and appropriate LO compensation amounts
• Streamline your workflow from lead to lock with full communication on lock requests from the loan officer to secondary marketing.
• Help ensure compliance with anti-steering regulations by evaluating all possible scenarios.
• Instantly know when you should place your lock request. Set rate and price targets for automatic system monitoring of loan scenarios as pricing changes throughout the day, week and month.  Then receive instant email alerts when your targets have been met.
• Mine your data and test eligibility and up-to-the-minute pricing for old loans and leads using the batch pricing capability.
• Easily manage rate sheet publishing and refresh online. Extract raw lender or scenario-based rates and prices and automatically download rates and price tables in real-time.
• Forget about time-consuming maintenance for your investor programs—managing investor eligibility, rates, prices or adjusters. Ellie Mae does it for you.

Plus, with new regulations like the anti-steering and safe harbor regulations and rules around loan officer compensation, working with a PPE like Encompass Product and Pricing Service can help you keep your team in line and your loans accurate.

Using custom business rules and settings, you can limit your loan officers to use only eligible loan programs, rates, prices and adjustment details from the pricing engine rather than enabling them to dictate these themselves based on paper rate sheets. You’ll also limit potentially risky data entry errors that can happen when transferring data from paper rate sheets or separate investor websites to Encompass360.

In 2011, Ellie Mae plans to make enhancements to Encompass360 to further help with the anti-steering regulations. To help with this now, loan officers can print the appropriate loan scenarios found in the Encompass Product and Pricing Service results page to the Encompass360 eFolder to demonstrate that alternate programs are not in the borrower’s best interest.

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Get Started Today

Automate your product and pricing process and get started with Encompass Product and Pricing Service today. Not only can you improve your profit margins, but if you’re on Ellie Mae’s Success-Based Pricing program, you can use Encompass Product and Pricing Service and only pay when loans fund.¹

To learn more about Encompass Product and Pricing Service or to sign up, please contact your Ellie Mae Account Representative at 888.955.9100.
» Contact us now

¹ Encompass360 clients on Ellie Mae’s Success-Based Pricing program only pay when loans close. Note that minimal set-up fees are required and nominal monthly fees are required if closed loan minimums for such month are not met. The per-closed loan fee may be based, in part, upon the number of originators per client company.