Assessing key performance indicators and operations during current industry headwinds is a great way for mortgage lenders to set themselves up for success now and in the future. In particular, lenders should take a look at their loan origination system (LOS), as the LOS they use plays a critical role in the ability to maximize efficiency, see return on investments and ultimately, win business over competitors.
The LOS should serve as the central hub of the tech stack, allowing lenders to orchestrate their entire business from a single system of record. Encompass by ICE Mortgage Technology is designed to enable users to manage their entire lending workflow in one place, from the customer’s initial point of thought through investor delivery. It is also powered by the industry’s most robust and trusted data set and offers a comprehensive suite of APIs that create endless possibilities.
Additional features seamlessly integrated within Encompass include multiple points of access, compliance, flexibility, document and automation solutions, support for equity lending, task management and more. Solidly backed by the stability and security of ICE, the platform also serves as a gateway to the industry’s largest network of partners, connecting the user to business-critical partners without any integration work required. All of these features come together to help lenders achieve operational efficiencies across their entire business for every lending channel.
Users are able to maximize production volume through powerful sales and marketing automation tools, as well as deliver an improved borrower experience which sets themselves apart from the competition and become a lender for life. Additionally, the platform delivers actionable data insights that can help lenders benchmark against their peers and make informed business decisions about where to focus to optimize their ROI.
Encompass does the heavy lifting in terms of compliance, making it easier for lenders to navigate the ever-changing regulatory environment, keep up with industry updates and more. ICE has a proven track record for delivering comprehensive support for major regulatory or industry changes well ahead of the mandatory effective dates, and makes these seemingly major changes a “non-event” so users can focus on business as usual and always stay in compliance. And it is all included in the Encompass offering.
Every lender and investor has their own unique approach to doing business and their own mix of channels they utilize. Encompass is the only solution on the market that can be easily configured without any development efforts to support a user’s unique products and workflows for each of their channels, including retail, consumer direct, HELOC, wholesale and correspondent, letting them manage their business in their own way. Users can also connect with third-party best-of-breed partners to create the workflow of their choice.
Encompass provides a unique combination of powerful automation, ease of use and flexibility to help mortgage companies streamline their originations from end-to-end and take their business to the next level, which can help reduce costs, increase revenue and deliver better customer experiences.