Streamlining AUS Processing with NewREZ Correspondent Through Encompass
Explore the benefits of leveraging LoanScorecard AUS tools within Encompass for enhanced collaboration, streamlined underwriting processes, and efficient findings report generation. Follow a step-by-step guide to seamlessly run AUS through Encompass, providing a comprehensive solution for approved correspondents to maximize efficiency in mortgage processing.
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Presentation Transcript
NewREZ Correspondent AUS through Encompass
Benefits of AUS Advantages LOANSCORECARD AUS HAS BEEN SUCCESSFULLY UTILIZED THROUGH NEWREZ SINCE JANUARY OF 2016. APPROVED CORRESPONDENT WILL HAVE THE ABILITY TO GENERATE A FINDINGS REPORT THROUGH ENCOMPASS OR LOANSCORECARD.COM THE SCENARIO DESK WILL BE ABLE TO SEE THESE FINDINGS IN ORDER TO WORK COLLABORATIVELY WITH OUR LENDERS 3
Running AUS within Encompass Step 1: Click on Services 5
Running AUS within Encompass Step 2: Click on Request Underwriting 6
Running AUS within Encompass Step 3: Next choose LoanScorecard under the All Providers tab Click My Providers to save LoanScorecard for easy access 7
Running AUS within Encompass Step 4: Complete the AUS Order Screen with the following: Ensure the Credit Report is ran Company ID : 6 digit Company ID Lender ID: This field is used to enter the Program/Product code provided in the table found on the next page User ID and Company ID provided in the credential email, as well as the password chosen 8
Running AUS within Encompass Enter the program code/product code in the Lender ID field from the following table (as programs/products are added the table will be updated) 9
Ordering AUS through LoanScorecard AUS" Step 5: Check the box Save Log in Information and Hit the Submit button 10
The AUS Findings Report The Eligibility Section will allow you to review the Guidelines checked against the Actual Loan Data. 15
The AUS Findings Report Correspondent s Name Borrower Information Requested Terms Monthly Payments Funds Summary Loan Details Monthly Income Program Guidelines validated/Actual Loan Data and a Pass/Fail or Refer for each guideline (See the Attached) Advisories established by Underwriting The Findings Report consist of the following: 16
Benefits from our Scenario Desk smartscenariodesk@NewRez.com Analyzing and calculating Searching and clarifying Identifying and creating Walking Analyzing and calculating income using our Smart calculators (Smart self, SmartFunds and SmartVest) to review for program eligibility Searching and clarifying guidelines to match prospective borrowers with the Smart program that fits their scenario Identifying and creating exception requests that can be submitted prior to UW or sent in with UW submission (by lender) Walking through our Loanscorecard (AUS) system and helping clients review findings reports prior to underwriting submission 17
