May '20 Release 🎉

The EPC 2.0 May 2020 release is now live in production! With this release, we've made a number of new features and improvements available:

Support for Encompass Consumer Connect:

EPC products can now be enabled for use by borrowers filling out loan applications in Encompass Consumer Connect (ECC). With enhancements to our JavaScript API, an integrations user-interface is able to discover when it's being presented to a borrower, and use this information to render the appropriate borrower-facing view.

Further, an integration doesn't need to account for which Encompass application a transaction has originated from to successfully fulfill it (ECC, Encompass or Web Version of Encompass). If a transaction has originated from ECC, EPC will automatically process and apply its response to the borrower loan application, instead of an Encompass loan file.

Finally, all fulfilled transactions originated in ECC will become part of the Encompass loan file, once the loan application is submitted by the borrower and converted into a loan in Encompass. This enables Partner integrators to build a seamless and connected service integration experience across a Lenders loan origination and processing workflows.

Support for Automated Service Ordering (ASO) Workflows:

EPC now supports automated service ordering for Lenders! If an EPC Partner's product supports the automated service ordering workflow (as specified in its configuration), EPC will automatically initiate a transaction for the product, once specific conditions in the loan - as set by the lender administrator - are met.

While processing a loan, Lenders order services in predictable patterns. For example, automated underwriting services might be ordered each time specific material changes are made to the loan, or a flood certificate might be ordered when the loan reaches a certain stage. Many of these repetitive tasks can now be automated, enabling lenders to streamline and increases efficiencies in their loan processing workflow.

To enable automated service ordering workflows for a product, all a Partner needs to do is build and register a special view for lender administrators - which will interact with new methods exposed by our JavaScript API to create templates for the type and options associated with transaction requests. Lenders will then be able to associate these transaction request templates to a set of business conditions - and when a registered set of conditions are met in a specific loan, the EPC platform will use the associated template to initiate an automated transaction on the lenders behalf.

Loan Data Collection Support:

With this release, a Partner integration can update variable-sized collection items in the loan file, such as Verification of Assets (VOA) and Verifications of Income/Employment (VOI/E) items. This enables Partners to build products which automatically import verified borrower asset, income and employment data into the loan, reducing the data entry and reconciliation burden on lenders.

Request Orchestration Performance Optimization:

We have made a significant investment in improving our transaction initiation performance. With our latest iteration of optimizations, a Partner application user-interface can expect the creation of a new transaction to take less than 4000 milliseconds (from JavaScript API initiation to webhook notification) for 90% of transactions. This enables Partners to build more streamlined and performant borrower/lender facing user-interfaces.

If you have any questions or comments, you can send them to us at [email protected]. You can also post your questions and look for answers on our discussion board - which is actively tracked by a community of experts available to help as needed.