- Construction Management Tool: The Construction Management Tool provides a central location within Encompass to originate construction loans and input key construction tracking information, making the construction lending process more efficient and consistent with the standard loan origination process.
- Blended and Separate KBYO Disclosures: Support for both methods of generating Construction-to-Permanent loan disclosures allowed by KBYO, a single blended disclosure, and two separate disclosures detailing Construction and Permanent loan terms, provides flexibility to lenders.
- Federal and State Compliance Reviews: Federal and state consumer protection compliance reviews for Construction-only and Construction-to-Permanent loans with either separate or blended disclosures through the Encompass Compliance Service™, powered by Mavent®.
- Closing Documents: Closing documents, including all 50-state eligible documents for both Construction-only and Construction-to-Permanent loans.
Ellie Mae ® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today that it has seen significant decrease in the time to close Construction-to-Permanent loans since the February 2017 launch of its comprehensive construction lending support within its Encompass all-in-one mortgage management solution. Additionally, Ellie Mae has seen an increase in construction loan volume for both Construction-only and Construction-to-Permanent loans for construction lending clients since February. Ellie Mae expanded its construction lending support, including a comprehensive way to process Construction-only and Construction-to-Permanent loans within Encompass. This expanded support included: