how to automate COC in encompass

To automate COC (Change of Circumstance) in Encompass, we can follow these steps:

  1. Identify the COC fields in Encompass that need to be updated based on certain conditions or events.
  2. Determine the trigger for the COC. This could be a specific event, such as a borrower’s income or employment status changing, or a specific date or time frame, such as the end of a forbearance period.
  3. Use Encompass’ Business Rules functionality to create a rule that will automatically trigger the COC when the specified conditions or events occur. You can specify the fields that need to be updated and the data that needs to be entered based on the specific circumstances.
  4. Test the COC automation to ensure that it is working correctly. You may want to create test cases with different scenarios to ensure that the COC is triggered correctly and the appropriate fields are updated.
  5. Once you have tested the automation and confirmed that it is working correctly, you can deploy it to your Encompass environment.

Overall, automating COC in Encompass can help streamline the loan process and reduce manual errors by ensuring that the appropriate fields are updated automatically based on specific conditions or events.

here’s an example of how to automate a COC in Encompass:

Let’s say that you want to automatically trigger a COC when a borrower’s income changes by more than 10% during the loan process. In this case, you can create a business rule in Encompass that will automatically update the income fields and trigger the COC when the change in income exceeds 10%.

To create this business rule, you can follow these steps:

  1. Go to the Business Rules section in Encompass.
  2. Create a new rule and give it a name that reflects the purpose of the rule.
  3. In the Conditions section, specify the condition that will trigger the COC. For example, you can set a condition that the COC will be triggered when the borrower’s income changes by more than 10%.
  4. In the Actions section, specify the actions that should occur when the COC is triggered. For example, you can set the rule to update the income fields in the loan file and generate a COC document that reflects the income changes.
  5. Save the business rule and test it with sample data to ensure that it is working correctly.

Once the rule is activated, it will automatically trigger a COC whenever the specified conditions are met, updating the appropriate fields in Encompass and generating the necessary documentation.

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