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Encompass
What Is Encompass?
Encompass, the industry’s most recognized loan origination system, gives lenders of every size access to everything they need to originate and close more loans.
And, with built-in compliance paperless document management, and next-generation data security, Encompass ensures that lenders and borrowers alike are prepared and protected.
Who Uses Encompass?
Cloud-based mortgage platform that enables lenders and investors to manage loan origination, funding, correspondent lending, borrower acquisition, trades and more while ensuring consumer engagement.
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Reviews of Encompass
Don't expect to learn this software quickly
Comments: I received the trial version of this software back in 2000, while I was using a very user friendly software that this software has put them almost out of business. I was so excited about this software when I was running my own small business but I couldn't even get anyone to tell me how much it cost because they wouldn't talk to me, in addition, it hadn't been fully released just yet. I am a mortgage loan processor. I have worked for companies that are lenders and brokers, plus ran my own small company. I have worked for approximately 5 mortgage companies, but only one of the 5 had the assets and server to run it. In addition, server size and assets are not the only requirements to run this software, you need in house admins that have a lot of experience with this software.
Pros:
What I like most about this software it has the ability to do anything you set up for it to do but with a high price and very educated admin needed.
Cons:
The price of this software is not even available publicly and what is required to run this software is very much hidden from the public.
Robust Mortgage LOS
Comments: My overall experience with Encompass is positive. I did take admin classes so I could properly add/remove loan programs, user profiles and set business rules. All of our users became very comfortable with the functionality of the program. Several employees that left our company have shared with me that they missed the functionality of this program.
Pros:
Encompass is a robust mortgage software with a lot of robust features and solutions for mortgage bankers. I would consider it the industry standard platform for this business sector. Everything is customizable, including the permissions of each type of user and many functions can be done from directly within the system. I am in accounting, and I heavily utilized their reporting functions which I found to be user friendly and extremely robust. Yo
Cons:
Set up and administration of Encompass is not for most users. Many companies will either hire a consultant that specializes in administration of Encompass, or the will hire and inside Encompass Administrator. Fortunately, they do provided training if you would like someone from within your organization to take on this role. The cost is also high. I personally felt that more admin services could be included at this price point.
Long time Daily Encompass User
Comments: I gave it 3 stars since I like the info and platform and document disclosure portion. But the lack of speed really irks me.
Pros:
I like the alerts and the platform of finding information that I need on a daily basis.
Cons:
The software is SLOW. I could be much more productive if the SW moved faster. It takes about 2 minutes to open and close ONE LOAN. I work on at least 12 loans per day... time vampire on that scope.
Encompass Review
Comments: Once you get the hang of Encompass and explore its nooks and crannies, it becomes a powerful tool in the loan processing business. Initially, the interface felt overwhelming, but over time I found it intuitive and incredibly useful. Its seamless integration with third-party services and real-time updates have streamlined our workflow significantly. While there is a learning curve and occasional slowness, the customizable workflows and comprehensive features have made it essential to our operations, boosting efficiency and improving compliance.
Pros:
Comprehensive toolset Seamless third-party integrations User-friendly interface Efficient document management Real-time updates and tracking Customizable workflows Strong compliance support
Cons:
Can be slow at times Steep learning curve for new users Occasional interface complexity High cost for small businesses Requires frequent updates Limited mobile functionality
Robust and 2nd to none. the long standing standard
Comments: overall, this is the tried and true platform that overall has a set of features that puts it ahead of the competition.
Pros:
the document management and the dashboard customization are probably the biggest features that stand out on the platform
Cons:
if you don't save often enough, you lose your work - highly annoying. it does not have integrated income calculation worksheets. I realize this changes often, but it seems that integrated income calculations would be a great addition since it is used daily.
