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:
Further, an integration doesn't need to account for which Encompass application a transaction has originated from to successfully fulfill it (ECC, LO Connect, or Encompass desktop). 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.
optionsassociated 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:
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.