Encompass Adverse Action Manager Price $9,995.00
Imagine a scenario: It’s the end of a busy day, and your team has just reviewed several loan applications. Some approved enthusiastically, but some fell into the adverse action category.
Denials and adjustments – are all part of the lending journey. But here’s the twist: Are you managing them with effectiveness, precision, and a strategy that eradicates any possibility of errors?
Problem
In the fast-paced world of mortgage lending, efficient management of adverse actions is crucial. The manual handling of denied or modified loan applications can be time-consuming, error-prone, and can lead to inconsistencies in communication and documentation. Mortgage lenders require a seamless solution to automate the adverse action workflow, ensuring compliance, accurate communication, and organized file management.
Solution
Encompass® Adverse Action Manager is an innovative plugin designed to revolutionize how mortgage lenders handle adverse actions within the Encompass® Loan Origination System. This plugin automates the entire process, from identifying loans meeting adverse action criteria to sending out emails and organizing crucial documents - all without manually opening Encompass®.
Features of Encompass® Adverse Action Manager
Smart Criteria Configuration
Define your criteria for identifying loan applications subject to adverse actions. Customize the plugin to match your business rules, incorporating factors such as credit scores, income thresholds, and documentation completeness.
Automated Email Communications
Say goodbye to manual email drafting. The Adverse Action Manager automatically sends personalized emails to applicants, clearly explaining the decision, providing reasons, and offering guidance for future applications.
Effortless File Management
With a few clicks, files related to adverse action cases are systematically moved to designated folders. This ensures easy access to critical information and simplifies record-keeping and compliance audits.
Scheduled Batch Processing
Set up the plugin to run on your schedule - daily, nightly, or as needed. Every flagged application will undergo the necessary adverse action procedures without manual intervention.
Benefits of Encompass® Adverse Action Manager
Time Savings
Automating adverse action workflows reduces manual effort, allowing your team to focus on more strategic tasks.
Consistency
Ensure uniform communication and documentation for all adverse action cases, minimizing the risk of errors or compliance issues.
Better Customer Experience
Prompt and clear communication with applicants, along with guidance, can help maintain positive customer relationships.
Regulatory Compliance
Accurate and standardized adverse action procedures help you stay compliant with industry regulations.
Efficiency Boost
The plugin's streamlined processes lead to faster turnaround times, benefiting your team and applicants.
