Encompass Quick Reference Guide: The Closing Process

1 The Encompass Docs Solution lets you audit, order, and receive Closing documents using a single source of information, without leaving Encompass . After Closing documents are returned, the closer can view, print, and send the document package. For more detailed information, refer to The Closing Process topic in the Encompass online help or view the Using the Encompass Docs Solution white paper in the Encompass Documentation Library. Complete and Review the Closing FormsRequirements for completing Closing forms vary from loan to loan, but you must complete the basic actions listed below before ordering Closing Review the Closing document data, select a Plan Code, review the Alt.

2 Lender, Disclosure Information, and Loan Information sections, and review or complete the mortgage insurance information based on your company's Information Vesting - Enter borrower information and define ownership rights in the property, enter corporation/trust information, and create the vesting statement used in loan Vendor Information Review the Lender, Title Insurance Company, and Docs Prepared by sections to ensure information is exactly as you want it to display on Closing Property Information Complete information in the Subject Property, Prelim Information, Manufactured Housing Details, Renewal and Extension Escrow Account Estimate the activity in the borrower s account for the upcoming year based on anticipated payments from the Disclosure Page 1 Review MI Disclosure Page 2 - Review fees.

3 If needed, enter revisions on the 2015 Itemization. Closing Disclosure Page 3 - Review the Calculating Cash to Close table, complete the Summaries of Transactions section, and enter seller-paid credits, if any. Closing Disclosure Page 4 - Review disclosure information and impounds. If the loan has an Adjustable Payment (AP) Table or Adjustable Interest Rate (AIR) Table, review these tables. Closing Disclosure Page 5 - Review Loan Calculations and complete Contact Conditions Enter locations where Closing documents are drawn and where the loan will close.

4 Enter Closing instructions and conditions that pull over to the lender s instructions. Additional Forms Complete additional forms as needed, for example state-specific, VA, and FHA forms when the Closing ProcessThe Encompass administrator must complete the tasks below to configure the Closing Process . To access the required settings, click Encompass on the menu bar, and then click the Closer Persona to One or More Users 1. Configure a user as described in the Encompass help topic Add a User. 2. To assign the Closer persona during the configuration Process , click the New icon in the Personas section, select the Closer persona, and then click OK.

5 Set Up and Activate Encompass Docs Solution Account You must work with the Ellie Mae team to set up and activate your Encompass Docs Solution account. They will also guide you through the configuration requirements needed before you can successfully order Closing documents from within Encompass . To get started, contact your account representative or call Up Company s Closing Doc Plan Codes 1. On the left panel in Encompass Settings, click Docs Setup, then click Closing Doc Plan Codes. 2. Click the New icon, and then select an investor from the Select one of more plans from the list, and then click Create custom plan codes or aliases as described inthe Encompass help topic Closing Doc Plan Up Company s Closing Doc Stacking Templates 1.

6 On the left panel in Encompass Settings, click Docs Setup, then click Closing Doc Stacking Templates, and then click the New Select the new template, and then click the New icon in the Documents section to add documents to the template. - Select a source, then select a document, and then drag it to the New Stacking Template section. - Click OK, and then click the Save icon to save the Compliance Audit Settings 1. On the left panel in Encompass Settings, click Docs Setup, then click Compliance Audit Select a Default Channel option to indicate how loan files are being handled, such as Brokered or Enter one or more email addresses to be notified when a processing error occurs during an audit due to a fee that is not mapped or is mapped Complete the remaining set up options as described in the Encompass help topic Compliance Audit Settings.

7 Configure the Closing ProcessComplete and Review the Closing FormsEncompass Quick Reference GuideThe Closing ProcessThe ClosingProcessAudit, Order, and Send DocumentsAudit the forms for any remaining issues, and then order the Closing On the RegZ-CD, click the Audit button, select Preview, and then click OK. 2. On the Closing Docs Audit window, select Closing for the Order Type, correct required data audit and compliance audit issues (in red). Click the Go To Field links to open forms and update After all required issues are resolved, click Order On the Select Documents window, Closing documents are listed in the order set by your admin.

8 - Select a Stacking Template to apply a different stacking order. - To change the order of specific documents, drag them to new locations on the list. - Select or clear check boxes to select the documents you want to send, and then click On the Send window, enter the recipient s email address. - Or click the Find icon to select recipients from the Files Contact Edit the email message as needed. - If your administrator has created templates with preconfigured email messages for different scenarios, select a template from the Subject drop-down list.

9 7. When finished, click , Order, and Send the Closing DocsRelated Resources: White paper: Using the Encompass Docs Solution. Help topics: The Closing Process ; Borrower Information Vesting; RegZ-CD. 2022 ICE Mortgage Technology. All rights reserved. Encompass and the ICE Mortgage Technology logos are trademarks or registered trademarks of ICE Mortgage Technology or its subsidiaries. Other company and product names may be trademarks of their respective owners. Rev. 05/26/2016.