Get Encompass Loan Processor Checklist 2020-2025

The Encompass Loan Processor Checklist is an essential tool for ensuring all necessary documentation is collected for loan processing. This guide will provide step-by-step instructions for efficiently completing the checklist online, making the process as straightforward as possible for users of all experience levels.

Follow the steps to fill out the Encompass Loan Processor Checklist online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by filling in the loan number and the name associated with the loan at the top of the checklist. This identifies the specific loan being processed.
3. Select the loan program applicable to the borrower, such as FHA, VA, Conv, USDA, or Jumbo. Ensure you choose the correct program as it dictates further requirements.
4. In the checklist completed by section, indicate who has finalized the checklist for internal tracking.
5. Group all items by borrower, starting with the most recent documents first. For bank statements, ensure they are organized by account and then by borrower.
6. Ensure the VA certificate of eligibility matches the funding fee in Encompass. Just confirm that the Forms-VA 26-0286 Loan Summary aligns with the fee.
7. For conventional loans with an LTV greater than 80%, verify that proper private mortgage insurance (PMI) has been disclosed. Check that related information is available in the eFolder.
8. If handling USDA loans, verify that GUS has been run, update the 3555 from GUS, and print the updated page 1. Discard previous versions as indicated.
9. Review the credit report for legibility and verify that all student loans are correctly updated according to agency guidelines. Adjustments to estimated payments must reflect 5% of the balance.
10. Check for any alerts requiring resolution and ensure inquiries are recent, within 90 days.
11. Gather any necessary documentation like child support or divorce documents, and certify any inquiries as needed.
12. Ensure all income documents, including paystubs and W2s, are tagged and organized by borrower. Confirm that deductions and work history match the documentation.
13. Check all tax-related documents and verify if borrowers filed jointly or separately. Update the eFolder with any required income verification forms.
14. Verify assets, making certain that bank statements and other asset documents are tagged and consistent with the information in Encompass.
15. For appraisal documents, ensure that the appraisal log and necessary addendums are uploaded and linked to the FHA case documents.
16. Confirm all insurance documents, including homeowners and flood certificates, are updated and referenced in the checklist.
17. Review AUS findings for compliance with ratios and eligibility, ensuring that all debt references are consistent.
18. Finally, save your changes, and you may download, print, or share the completed form when you've finalized all sections.

Complete your Encompass Loan Processor Checklist online today for a streamlined loan processing experience!