Disclosure Tracking Tool Field Calculations
The Compliance Timeline section on the Disclosure Tracking tool provides date fields that show when the loan application was received when the first disclosure was sent to
the borrower when the borrower indicated an intent to proceed, the earliest fee collection date, the earliest closing date, and the estimated closing date. The LE Tracking and
CD Tracking sections provide date fields that enable you to track when the initial Loan Estimate and Closing Disclosure were sent and received by the borrower and when
revised Loan Estimate and Closing Disclosure forms were sent and received. The Other Tracking section allows users to type or select dates when additional forms were sent
to the borrower.
Many of the fields are automatically calculated in accordance with the Real Estate Settlement Procedures Act (RESPA) regulations effective October 3, 2015. Below are the
methods used to enter dates in the calculated fields.
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Docs Setup (Banker edition)
Encompass Docs Solution Prerequisites
Prior to using the Encompass Docs Solution document generation engine, the
Ellie Mae team will coordinate setting up and activating your company’s
Encompass Docs Solution account, and then guide you through the following set
up and configuration tasks in Encompass:
• Docs Setup
• eFolder Setup
• Loan Templates
• Persona Settings
Docs Setup
Use the Docs Setup settings to create and manage the initial disclosures and
closing document packages that will be provided to users when they generate
documents. In addition, you must also use the Compliance Audit Settings to help
ensure compliance with regulations regarding high-cost loans and to help prevent
users from originating high-cost loans for states in which they are not permitted to
do so.
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Set Up Initial Disclosure Packages
Use the eDisclosure Packages tool to select the eDisclosure packages that will be
sent to borrowers by your users and to enable or disable the eSigning option for
the disclosures.
In Encompass, “initial disclosures” are called “eDisclosures” and “initial disclosure
packages” are called “eDisclosure packages”.
Disclosure packages include forms that are selected based on the subject
property state, loan channel, and other information selected in the loan file (for
example, loan program, loan type, lien type, and subject property location), as
well as your company’s status as a lender or broker. A package can contain
standard forms and custom forms from Encompass, as well as additional Ellie
Mae disclosure forms that are dynamically selected based on the information
entered in the loan file.
Your administrator can select one or more predefined eDisclosure packages to
use for all loans or set criteria that make different packages available when
specified milestones or fields have been completed. Administrators can also allow
individual users to select their eDisclosure packages.
Administrators can select one or more predefined eDisclosure packages to use
for all loans, or set criteria that make different packages available when specified
milestones or fields have been completed. Administrators can also allow
individual users to select their eDisclosure packages. Administrators can also
allow individual users to select their eDisclosure packages, and personas who
have permission can add and remove documents from packages before sending
them to borrowers.
NOTE: Add/remove permission is configured in the Persona settings on the
Loans tab in the Closing Docs section.
The content of the predefined eDisclosure packages is designed to meet the
requirements for the stages in the loan process listed below:
• At Application
• Three-day
• At Lock
• Approval
Three additional options allow you to include the GFE, RegZ-TIL, or Loan
Estimate in a package:
• Include GFE
• Include TIL
• Include LE
NOTE: To view the list of forms that are inside the different eDisclosure
packages, refer to the eDisclosure Matrix document, which is available in the Ellie
Mae Resource Center and the Ellie Mae Knowledge Base.
The eSigning option allows borrowers to access the documents online using the
Loan Center (or WebCenter). After consenting to receive electronic disclosures,
the borrower reviews the documents online and then signs the documents
electronically. Your users will receive an email notification that the signed
documents are available.
TIP:If the eSigning option is enabled and the eDisclosure package contains
custom forms that require a signature, be sure you have inserted eSigning
signature points in the forms. For detailed instructions, refer to the Custom Print
Forms topic in the Encompass online help.
To Set Up eDisclosure Packages:
1 On the menu bar, click Encompass and then click Settings.
2 On the left panel, click Docs Setup and then click eDisclosure Packages.
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3 On the upper-right, select a default option to use if no channel is selected for a
loan file.
4 Click a channel tab at the top of the Ellie Mae eDisclosure Packages section.
5 For the Entity Type, select Broker Disclosures, Lender Disclosures, or both.
NOTE: If you select both entity types, the packages will include all forms used
by brokers and all forms used by lenders. The packages include only one copy
of the forms that are used by both.
6 For Banker-Wholesale loans, you can select the Make the Package
Informational Only check box to make all disclosures informational. The
packages will not provide signing options or fax cover sheets.
7 On the Initial Packages section, select a Control Option from the list.
