ICE Innovation Award

eClose Advantage

Best Consumer Closing Experience

Affinity Plus Federal Credit Union adopted Encompass eClose™ during a time when many other lenders felt they didn’t have the time to invest in innovative technology: during a historically high-volume market peak. Now, whether the market is warming up or cooling down, it’s full steam ahead for Affinity Plus as they leverage eClose to delight members and establish a real competitive edge. Delivering closing documents to borrowers digitally earlier in the lending process gives them the chance to review everything before getting to closing table. Getting ahead of the closing process helps Affinity Plus Loan Officers identify issues, fix mistakes, and answer members’ questions well before signing time. They’ve shaved 30 minutes off every eClosed loan at the closing table alone.

“The day of closing is the exciting part of buying a home for our members. We don’t want to delay getting the keys in their hands to their new home! They can walk in confident, having already signed and reviewed the closing documents, as well as reassured that everything is accurate to what they wanted and were expecting. Encompass eClose provides an easy technology for all parties that only enhances the buyers’ experience.” – Matt Miller, Senior Underwriter

Data Driver

Best Use of Data to Drive Decisions

Waterstone Mortgage uses Encompass Connect solutions to eliminate guess work and uncertainty when deciding where to focus on making improvements. They’ve identified points throughout their workflow where real-time data streamlines operations internally and enhances functionality on the borrower’s end. By combining data from their payroll system with the Encompass® environment, Waterstone developed a forecasting model that accurately predicts underwriting capacity, so they can be proactive about staffing. Data from Encompass Developer Connect™ powers dashboards that track loan progression, as well as Loan Officers’ goals, rankings, and peer benchmarks. Data from Encompass Consumer Connect® gives them a better view of what customers are doing and helps them understand how to enhance the functionalities that borrowers want to use.

“ICE has played an important role in equipping us to create our proprietary tool, Element. This technology allows our sales, operations, and administrative staff to have real-time access to their loans and engage with borrowers throughout the process, providing a streamlined way to review files and update our customers efficiently. Additionally, ICE has partnered with Waterstone Mortgage to integrate Encompass Consumer Connect® with Element, allowing us to create further customization that enhances our customers’ experience when working with us. Our collaboration with ICE has helped us create a transparent, streamlined loan process for each homebuyer we serve.” -Jake Rowoldt, VP – Information Services, Waterstone Mortgage

Intelligent Automation

Best Use of Data to Drive Workflow

When deciding what to automate, Mann Mortgage prioritizes processes that will bring the most benefit to the company through balance and fluidity. The lending process is becoming an intuitive, smooth workflow from beginning to end for both borrowers and users because Mann Mortgage brings multiple ICE Mortgage Technology® automation solutions together in harmony. They’ve combined the functionality of Velocify® and Encompass Consumer Connect® to identify when a customer abandons an application and reach out to them right away. This allows Mann to keep the application moving forward by pinpointing and solving any issues while the customer is still engaged. Automatically delivering docs to borrowers through Encompass eClose™ has turned an hour-long title signing session into a 15-minute stop-in. Internally, Mann has employed AIQ™ Analyzers to eliminate stare-and-compare document verification and time-consuming errors. Impactful points of automation flow together to create a holistic workflow, all under one system login, that even change-averse team members appreciate.

“I decided to embrace and get better with using and understanding AIQ. Gotta be honest here... it's much easier and fluid than I had previously imagined. I have a very solid grasp of the software and find myself asking what all the hesitation to adopt was about. From an origination view, it's awesome. There’s faster input of borrower items that are easily named and assigned. I went from a frustrated LO to a happy user.” Deborah, Branch Manager and Loan Officer, Mann Mortgage

Web Integration

Best Use of NextGen Technology

Incorporating NextGen technology into their daily systems has made Loan Officers at Absolute Home Mortgage highly mobile and has been a huge differentiator in their market sector. They started by integrating their point-of-sale system with the web version of Encompass® so their Loan Officers could access Encompass from anywhere. Now, Absolute Loan Officers are responsive to borrowers’ needs in a way that makes their customer base stop and take notice. Absolute has also worked with ICE to develop a Quick Pricer within Encompass Product & Pricing Service™ that generates the best rates directly to a simplified web user interface for customers, third party partners, and Loan Officers for quick, seamless exchange of information. As a pioneer in NextGen tech, Absolute has helped over 9 fellow ICE customers implement the web version of Encompass within their operations, and the NextGen wave continues to spread throughout the mortgage lending industry. They do this because innovation is woven into the fabric of their organization as part of their company culture.

“When I began working for Absolute 8 years ago, they promised me that I would always work for a mortgage company that would be on the leading edge of technology. I am happy to say 8 years in they have lived up to that promise. Absolute continues to grow the company and our abilities as Loan Officers through innovative technology.” -Blake Hyatt, Branch Manager

Borrower Conversion

Best Application-to-Closed Loan Conversion Process

First Home Mortgage discovered that the key to increasing conversion rates was to remove all roadblocks at the initial application stage and solve problems before they arise. By customizing applications based on service area, and even for individual loan officers, they were able to confidently direct borrowers to the Encompass Consumer Connect® portal knowing that they’ll get all the correct information they need right from the start. Being able to take complete applications and have the applicant upload their documentation right at the beginning is crucial for loan officers to quickly identify potential issues and deal with them early in the process. With Consumer Connect, customers can also instantly engage with their Loan Officer, check the status of their loan, and upload and eSign documents securely. First Home now delivers a smoother borrower experience and has achieved an outstanding application-to-closed-loan conversion rate.

“Just recently, one of my Encompass support specialists was on a three-way call with a borrower and loan officer. The borrower was having some trouble navigating the system and she was blown away by the loan officer’s ability to walk the borrower through the system. With his knowledge of the product, the loan officer was able to quickly resolve the issue and avoid frustrating the borrower.” Eric McCall, VP, First Home Mortgage

Lenders’ Choice For Innovative Service Provider

Eliminating stare-and-compare document verification methods is a top priority for lenders who are trying to protect margins by gaining efficiency and reducing errors. Xactus has embraced mortgage lending automation and made it accessible to all lenders by developing automated document verification. Xactus brings together five of the nation’s leading verification companies into one platform that streamlines operations and eliminates repetitive tasks. Lenders can easily access credit reports, undisclosed debt verifications, employment verifications, FraudPlus, and liens and judgements reports through Encompass® to meet customer demands for a modern mortgage experience with industry-leading speed, reliability, and accuracy. Automated document verification enables closing loans more quickly, with greater profitability. Their seamless integration with Encompass makes Xactus a perfect solution for ICE Mortgage Technology® customers like Mutual of Omaha Mortgage and The Federal Savings Bank, who have both seen significant gains through their partnership.

“As we endeavor to advance the modern mortgage, we will continue to leverage automation and data to help our clients close more loans more quickly, grow their businesses, enhance their profitability, and provide an all-around better experience for consumers.” -Greg Holmes, Chief Revenue Officer, Xactus