Ways for Encompass Users to Boost Closing Ratio and Profitability

Closing ratio is a key metric & its improvement directly boosts profitability. We distilled 5 key action areas that will yield maximum results

Ways for Encompass Users to Boost Closing Ratio and Profitability

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Closing ratio is a key metric and its improvement directly boosts profitability. We distilled 5 key action areas that will yield maximum results.
Low interest rates over the past few months have ensured good loan volumes. Every Lender would want to capitalize on these volumes to gain market share and improve profitability.  The efficiency with which a lender can convert loan applications to funded loans goes a long way in gaining the hard to win market share Lenders who are unable to make their operations more agile will continue to add to their fixed costs and lose out to competitors.
Lenders using Encompass® are at a definite advantage. They have a unique opportunity to leverage Ellie Mae approved AI/ML-based technology solutions to automate loan set-up and processing, improve accuracy, turn time and underwriter productivity.
So, what are the key areas Lenders using Encompass should focus on to boost closing ratio and profitability?
Through our interactions with mortgage industry visionaries, we distilled five key areas that are worth exploring.