After opening the loan in Encompass, simply select the FinLocker custom form, and FinLocker will automatically send asset verification emails to your borrower and co-borrower (if applicable).
When a borrower enrolls their assets, FinLocker will automatically calculate their total assets and separate them by individual accounts. FinLocker also creates and pushes an asset report directly to the Encompass E-Folder, into the FinLocker Imported Documents folder.
After the borrower enrolls their assets and you need to pull updated documents, you can refresh those assets directly from the FinLocker portal.
You can either click Refersh All or choose to refresh individual accounts
Refreshing the asset accounts pulls in all of the transactions for the updated date range and then FinLocker creates a new Asset report and again pushed it to the Encompass E-folder.
In the event, the user does not want to include an asset, they have the ability to “disqualify” a particular account.
The account is then removed from the file for consideration and the analytics will run on the new data.
The same steps are followed to re-qualify an account.
Once assets are chosen, the values can then be sent to the proper fields in via the “Push to Encompass” button.
These check marks are grayed-out to help the user to keep the assets listed on the loan application in sync with the assets on the Asset report. If an account is to be excluded, disqualify the account prior to ‘pushing’ value to Encompass. It is also possible to retain an account listed on the loan application, but has not been enrolled or shared by the Consumer. The user only needs to check one of the boxes on the bottom to retain that account.
Asset values prior to “Push to Encompass.”
Assets after the values have been pushed to Encompass.