Encompass is a very robust tool that would work great for companies that have strong organizational process with defined user roles in place. I would recommend anyone considering implementing it to carefully map out every step from lead generation to loan delivery. It’s important to involve compliance and audit as well as origination and post closing with every decision for best execution.
Is Calyx Point even a thing anymore? I recall using Calyx Point years ago but don't remember it being able to do half of what Encompass is capable of doing. Encompass alone being able to communicate to 3rd party systems is a major time saver something Point was never able to do.
One of the items that were difficult initially is that we pay for the software and have to pay an additional monthly fee for each closing package. For a small lender that is a huge expense.
The online application is a great asset to us and is going to help us to be competitive in our market.