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6 Skills Achievable By Integrating Capacity and Encompass

by | Jul 2, 2021

The mortgage industry has encountered a ton of change in the past year. And Encompass has been around to support loan officers and lending companies throughout it all. By integrating a powerful loan origination system with a support automation platform, lenders can access the information they need to originate and close more loans without having to spend time searching for it in the system.

During loan origination, lenders have typically taken on the manual work required to answer borrowers’ questions and do their job. Capacity takes the manual work out of the equation by being readily available with answers to FAQs via an AI-powered chatbot. Capacity works in parallel with loan origination systems to answer more than 90% of all inquiries without human involvement about guidelines, loan statuses, and more. 

Lenders might not consider how long it takes when searching for specific information due to the size and scale of information in the Encompass system. When you think about how many times a day loan officers are logging into the system, those few minutes can turn into hours. By integrating with Capacity, those hours are alleviated, the process is automated, and information is delivered immediately to a loan officer in seconds. Discover six examples of straightforward skills that loan officers can use to save time with the Encompass and Capacity integration.

1. Look up the status of a loan.

During the loan origination process, borrowers are eager to know the results, and for good reason. However, it is time-consuming for a loan officer to stop and check the loan origination system every time a borrower asks this question. With the Capacity and Encompass integration, all a loan officer would have to do is say, “look up a status of a loan” and the AI-powered bot will request a borrower’s name or loan number to accurately and instantly retrieve this information. 

2. Locate loan details.

As originators help borrowers find the best loan for their situation, they may need quick refreshers on specific details of each loan like the term, type, or if it has a fixed or adjustable interest rate. Rather than pulling it up and searching through it themselves, all they have to do is ask Capacity to show the loan details, and it will provide the information they need at their fingertips.

3. Find borrower details.

It’s no secret that loan originators work with multiple borrowers at once. With that being said, it can be very difficult to remember the debt-to-income ratio of every person they are working with. It can also be time-consuming for the loan originator to go into Encompass and search for this for every borrower. The integration between Capacity and Encompass enables a loan officer to ask for specific details like the buyer’s contact information on the loan or something more generic like the borrower’s information on the loan.

4. Access loan LTV.

Calculating ratios and crunching numbers is a constant responsibility for lenders. Rather than doing the math themselves or searching the loan origination system for these numbers, loan officers can simply ask Capacity to share these ratios with them. Using the integration between Capacity and Encompass to extract this information can also eliminate human error that comes with manual data entry. 

5. Get loan lock statues.

In the past year, there were plenty of changes in the housing market for buyers and sellers alike. Because of these changes, loan officers were spending time working with homeowners and borrowers who were interested in locking in low-interest rates. Loan lock statuses are just one other data point that can take time to access. Capacity’s integration with Encompass simplifies that work by enabling loan officers to access that information with a simple statement like, “show me the loan lock status.”

6. Track loan closing dates.

The closing date is one of the most exciting days for the borrower during the mortgage process. Keeping track of these dates can help the loan officer and the borrower stick to deadlines and promptly complete the necessary paperwork. As it has been a theme throughout the past five skills, the integration of Capacity and Encompass can extract this information instantly whenever the loan officer asks. If the lender adds Capacity to their customer-facing website, borrowers can even access it on their own. 

Capacity has built integrations with a lot of technology in the financial services industry, and these six skills are examples of the capabilities available through Capacity’s integration with Encompass. It is our goal to help teams do their best work, and building shortcuts through app integrations is just one way we do it.