Electronic Disclosures

Encomia's software eliminates the burden and many of the costs associated with mortgage loan application paperwork. Easy to deploy and use, our revolutionary software automatically streamlines every aspect of the loan application process.

How it works:
eSign 1003 & Upfront Disclosures
You interview borrowers and enter their information in your LOS. From there, Encomia's software engine gathers the information, creates SMART Docs from them, and electronically delivers documents for loan applications. Key fields from these forms will be checked and cross validated automatically, so you can stop worrying about data errors and focus on loan production.

Encomia's electronic closing docs can be filled out, signed, delivered and downloaded anywhere there is web access, including your office or the borrower's own home!

Electronic Mortgage

The Electronic mortgage, or eMortgage system, is generating excitement in business and lending circles alike with the promise of eliminating paper and creating value by providing an entirely electronic process for the execution of mortgage transactions. Electronic Mortgage processes promise to revolutionize the mortgage banking industry and save lenders, settlement agents, investors, and borrowers thousands of dollars.

Industry leaders, including several lenders, Fannie Mae, Freddie Mac and the MBA's standards organization MISMO have been developing data standards and processes since early 2001. The implications for change in an all electronic mortgage process are significant. Entire processes are automated, some are eliminated, and other processes are significantly different. The most significant area of change in the process is the closing, which takes place on a computer, but the origination process is also materially affected.

Electronic Vault

Encomia offers a full featured and ready to deploy Electronic Vault designed for financial assets. With Public Key Infrastructure (PKI), the electronic vault stores electronic loan documents in a secure location. Upon closing an eMortgage, the loan documents are immediately sent to the vault electronically. Documents can be easily transferred between investors using our intuitive client interface, and custom auditing/reporting tools are already built into the system.

Encomia works very closely with MERS® (Mortgage Electronic Registration System), the independent eMortgage registry that ensures viable investor documents. As a result of Encomia's full integration with the MERS eRegistry, documents not only will be fully integrated into your enterprise system, but they will also be registered automatically.

Encomia's electronic vault is seamlessly consolidated with all our other software modules (Doc Prep, Electronic 1003 & Disclosures, Print2SMARTDoc and eSign). Using the electronic vault in conjunction with the entire ENC3 Solution reduces deployment time, cost and risk as you become eMortgage enabled.
GMAC said this about us shortly after their electronic vault launched in July of 2006:

"Encomia's eVault software met specific business and functional requirements sought by GMAC Bank's Trust Operations. Encomia provided solid customer service and strove to partner with our internal GMAC Bank team to ensure the smooth implementation of the project. Encomia implemented the project within the specified timeframe, and did so within budget. Encomia continues to provide ongoing support for eMortgage initiatives company wide." - Barbara Krawczun, VP, GMAC Bank Trust Operations
Benefits:
  • Expedites loan funding
  • Significantly reduces the costs of loan processing and storing
  • Instant and automatic electronic loan delivery
  • Unlimited audit capability
  • Drastically reduced certification time
  • Low deployment costs
  • Fully consolidated with the entire ENC3 electronic mortgage solution
  • Reduced investor risk
Features:
  • Fully integrated with the MERS® eRegistry
  • Full MISMO standards compliance
  • Accepts all common file formats, including SMART Doc, PDF, TIFF, JPEG, DOC, etc
  • Generates custom reports for all mapped document data
  • Built with web services for easy integration