Total Quality Loan® Program
Increase and ensure the quality of your pipeline.
Get a best-practice workflow that delivers compliance, quality, and efficiency throughout the loan lifecycle.REQUEST A DEMO
Leverage the power of integration
Order services from best of breed providers from one screen to more easily and more quickly ensure loan quality, reduce human error and increase transparency throughout the loan lifecycle. TQL includes:
Create error-free loans from start to finish
The traditional loan process is infamous for manual data entry and very little collaboration—characteristics that lead to overall loan quality issues, fraud and defects. Without common review processes and loan file standards, loan quality errors can lead to suspense conditions and huge delays, driving costs up and affecting your productivity.
Moreover, rules from the CFPB, the OCC, FDIC and individual state agencies are leading to increased oversight and heightened standards for quality. Investors move swiftly to require buybacks if they suspect fraudulent information or documentation. Today, lenders aren’t simply required to have controls for loan quality in place; they must show and prove that controls exist in each individual loan.
Benefit from accurate performance measurement
Provide management with complete control to monitor quality at the organizational and individual contributor levels. TQL® provides reporting and dashboards to help you identify trends and communicate expectations across your organization, giving you insight into who is generating quality loans and who isn’t. This insight helps to create training opportunities to help maximize performance.
TQL® helps you address risk, quality and consistency by:
- Eliminating manual data re-entry
- Reducing investor suspense conditions
- Reducing the number of underwriting conditions
- Minimizing resource and labor costs
- Driving efficiencies and boosting productivity
- Reducing costs, fines and buybacks
- No additional cost to Encompass users