Adverse Action Manager Price $9,995
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?
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
Automating adverse action workflows reduces manual effort, allowing your team to focus on more strategic tasks.
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.
Accurate and standardized adverse action procedures help you stay compliant with industry regulations.
The plugin's streamlined processes lead to faster turnaround times, benefiting your team and applicants.