The Closing Process
The closing process in Encompass enables you to order and receive closing documents using a single source of information without leaving Encompass. When closing documents are returned, the closer can view, print, and then send the document package. This chapter discusses the steps and guidelines to follow when proceeding through the closing process using the Encompass Docs Solution. The closing workflow consists of the following steps:
• Assign the Loan to a Closer
• Apply an Input Form Template for Closing
• Complete the Required Forms
• Check Closing Document Data
• Audit the Loan File
• Order the Closing Documents
• Preview, Print, and Send the Closing Documents
Step 1: Assign the Loan to a Closer
• When the Doc Preparation milestone is completed, the processor assigns the loan to a closer.
• To accept the file, the closer clicks the Accept File (Clear Alert) button on the Doc Signing worksheet.
Step 2: Apply an Input Form Template
Your administrator can create input form templates to be used by different loan team members. When you apply a template, the Forms tab displays only the forms needed to complete the loan work performed for a specific set of tasks. If your company has an input form template for closing, apply the template before you begin the closing process.
To Apply an Input Form Template:
1 On the Loan menu, click Apply Input Form Set Template.
• This option replaces the current list of input forms on the Forms tab.
2 Double-click a template to apply it to the loan.
Step 3: Complete the Required Forms
The following forms are provided for entry of the data needed to order closing documents. The data required on each form will vary based on the requirements of each loan.
• RegZ-CD
• Borrower Information – Vesting
• Closing Vendor Information
• Property Information
• Aggregate Escrow Account
• Closing Disclosure Page 1
• Closing Disclosure Page 2
• Closing Disclosure Page 3
• Closing Disclosure Page 4
• Closing Disclosure Page 5
• Closing Conditions
• Additional Forms
To be continued………………
