Challenge

Companies rely on effective communication and notes on loan files in order to expedite the loan process and ensure data accuracy. However, it can be difficult in Encompass to ensure that all users are regularly providing comments on the loan about their progress and changes, as well as their communication with borrowers and other entities associated with the loan.

Solution

The Conversation Log tool in Lender Toolkit’s Toolshed is an easy to use plugin that presents users with a conversation logging popup when exiting a loan file. It is able to be configured in multiple ways to determine when the popup is shown and for whom, as well as whether or not a conversation log is required or not. It can also provide a summary of what was changed in the loan so that the user can easily review their changes and summarize them in the conversation log.

Value

The Conversation Log tool will exponentially increase your company’s use of the conversation log in Encompass. Effective communication and notes in the loan will allow for anyone to open the loan and see a full history of what has been happening from app taken to closing and purchase. This kind of detail is also useful for internal and external audits, and can help management to review where issues are in the process and determine new ways to speed up the loan process and have more compliant closings.