Workflow Automation for Automated Income Analysis Ordering in Encompass®

Overview

You can configure automated service ordering (ASO) of Income Analysis through the Encompass® Loan Origination System (LOS) and Encompass® Partner Connect. When properly configured, this functionality will automatically trigger an Income Analysis order and attach income documents from the loan file’s eFolder—based on specific conditions and triggers set by your Encompass® Administrator.

Cotality™ provides a blueprint to help guide this setup. However, it’s up to your Encompass® Administrator to implement the workflow in a way that best fits your organization’s needs. The blueprint includes strongly recommended steps, as well as options that can be customized to suit your processes.

The setup involves using:

One Automated Ordering Template
One Field Mapping
Three Workflow Engine Rules

As the lender, you can use this blueprint as a starting point and adjust the rules and conditions to meet your specific requirements. It’s recommended that you consult with ICE Mortgage Technology for best practices when implementing this workflow.

Blueprint for automated ordering

[Required] Automated Ordering Template: Service Rules triggered by Workflow Engine
1. Rule Name: Lender’s decision
2. When Rule conditions are met: Run the first matched order
3. Add Service Order
  1. Provider: Cotality Income Analysis
  2. Evaluation Level: Loan Level
  3. Service Order Name: Lender’s decision
  4. Partner Documents (no attachment required) . Select any Document Folders that will contain income documents that lender wants submitted to Income Analysis .
    1. Paystubs
    2. Tax Returns w/ Schedule – 2 Years
    3. W-2s – Last 2 years
  5. Add Automated Options
    1. Template Name: Income Analysis
[Required; Can use different Field ID] Field Mapping – Map the Order Submitted Date in Services Management
1. Purpose: This mapping will be used in Workflow Rule 2 to ensure that income documents added before the milestone in Workflow Rule 1 are included in the Income Analysis submission .
2. Encompass® Field ID: Lender’s choice
3. Mapping Type: Maps From
4. Provider Field Name: clIAOrderSubmittedDate
[Required; Can use different triggering event] Workflow rule 1 – Trigger Income Analysis Order Via Milestone
1. Rule Name: Lender’s decision
2. Rule Effective: Lender’s decision
3. Triggering Event: Milestone Completed (choose appropriate milestone)
4. Conditions: Lender’s discretion
5. Result:
  1. Resulting Action: Order Service
  2. Select Service Rule: [select rule name created in step 1 above] Income Analysis ASO UAT
[Required; Can use different Field ID] Workflow Rule 2 – Field Value Modified and Update Service Order
1. Rule Purpose: To capture and send any income documents that were added to the eFolder before the milestone in Workflow Rule 1 was met .
2. Rule Name: Lender’s decision
3. Rule Effective: Lender’s decision
4. Triggering Event: Field Value Modified
  1. Encompass® Field ID: use the Field ID mapped to the clIAOrderSubmittedDate Provider Field Name
  2. Was Changed: Any Change
  3. Conditions: Lender’s discretion
5. Result:
  1. Resulting Action: Update Service Order
  2. Service Category: Additional Services
  3. Provider: Cotality Income Analysis
  4. Update: All Orders
  5. Service Provide Event Option: Leave blank
[Required; can use different Triggering Event] Workflow Rule 3 – Document Added Trigger and Update Service Order
1. Rule Purpose: To send any income documents added to the eFolder to Income Analysis after the milestone event was met in Workflow Rule 1 .
2. Rule Name: Lender’s decision
3. Rule Effective: Lender’s decision
4. Triggering Event: Document Added . Select any Document Folders that will contain income documents that lender wants submitted to Income Analysis .
  1. Paystub
  2. W-2s- Last 2 years
  3. Tax Returns w/ Schedule – 2 Years
5. Conditions: Lender’s discretion.
6. Result:
  1. Resulting Action: Update Service Order
  2. Service Category: Additional Services
  3. Provider: Cotality Income Analysis
  4. Update: All Orders
  5. Service Provide Event Option: Leave blank

Note: You may want to apply conditions to control which loan channels are submitted to Income Analysis. Be sure to review the articles linked below, and reach out to ICE Mortgage Technology if you have any questions.

Outcome

You can configure automated ordering of Income Analysis through the Encompass® Loan Origination System (LOS) and Encompass® Partner Connect and have a blueprint to help guide the setup.