" class="no-js "lang="en-US"> Flueid Announces Encompass Integration with ICE Mortgage Technology to Fuel Loan Originations with Critical Title Data and Insights
Sunday, April 21, 2024

Flueid Announces Encompass Integration with ICE Mortgage Technology to Fuel Loan Originations with Critical Title Data and Insights

Flueid, the leading technology company fueling real estate transactions from end-to-end with title data and intelligence, announced the company’s patented Flueid Decision platform is now integrated and available through Encompass® by ICE Mortgage Technology®, part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. The integration makes Flueid’s title data and insights available to lenders while reviewing their loan application to help save days in loan origination and processing, while simplifying the consumer experience.

Built on the latest Encompass Partner Connect™ API Platform, the Flueid Decision integration uses data to drive greater transparency and awareness on the condition of title from borrower engagement through closing. By simply ordering Flueid Decision, loan officers and loan underwriters can easily check title at loan application and review critical insights to understand what’s going on with a property and consumer. Plus, it provides a competitive advantage by helping lenders identify which transactions are cleared for an accelerated 5-day closing for home equity or 10-day closing for refinance, which are not and why.

This intelligence is provided in minutes via a simple, data-driven report within Encompass to fuel workflows. This, in turn, reduces cancelation ratios for title partners since lenders are ordering a title commitment or title report with confidence knowing which transactions are most likely to close, saving time and costs for all parties.

Key integration benefits include:

  • Shortened Cycle Times: Ask questions, verify details and gather information from consumers in one step to eliminate surprises or timeline changes stemming from items uncovered after title report or title commitment is delivered
  • Reduced Loan Fallout & Costs: Save resources equal to $1,500 by prioritizing files cleared of title issues and avoiding loan fallout later in the loan life cycle
  • Data & Decision Accuracy: Title insights are based on tried-and-true title underwriter-approved logic, best practices, industry experience and robust data sets – not to mention backed by 14 of the top 20 national underwriters
  • Integration Simplicity: Access Flueid Decision easily and securely without leaving the Encompass platform through their web portal or desktop application for a streamlined workflow and straightforward user experience

“Lenders are increasingly under pressure to close home equity loans in as little as five days; Flueid recognized that hitting this mark requires a way to easily uncover and prioritize the most seamless opportunities in the pipeline,” said Matt Regan, EVP of Transaction Management Systems at Flueid. “This is where our concept for a title check came to life within Encompass: rather than waiting until after title is ordered to understand if any issues exist, we deliver the insights from Flueid Decision to lenders while reviewing an application so they know immediately if a consumer and property are clear and can be fast tracked to closing. If not, they have a set of actionable title insights during this early stage to have conversations with their borrowers and make informed decisions.”

Once ordered in the Encompass platform, Flueid Decision helps lenders engineer the most efficient workflows by:

  • Delivering insights and an underwriter-backed title clearance decision on the property and consumer via a dynamic report
  • Summarizing key alerts across fields – such as additional properties, property liens and consumer judgments – for easy comparison against the loan application
  • Outlining Flueid ‘Pro Tips’ explaining the alert and what needs to be addressed with the borrower, curative items for title and next steps to reach closing

To further streamline the transaction, Flueid Decision offers a complementary and purpose-built product for title providers to digitize and automate title search best practices. This means when title is requested within Encompass, a Fueled by Flueid™ partner’s title commitment or title condition report – depending on the transaction type – will match the decision and insights a lender receives upfront at loan application for the most accurate and efficient process.

“Flueid’s committed to driving the greatest efficiency and effectiveness for mortgage lenders to make the loan life cycle simpler, faster and more secure – especially in the current home equity-dominated landscape,” adds Peter Richter, Co-Founder and President of Flueid. “The earlier title data and intelligence is accessible to lenders, the better for perfecting their pipelines and driving a more integrated lender-title workflow. In the future, we envision bringing this data even further forward into loan origination as an invaluable tool and data set at the point of sale to provide the greatest lift for lenders and their consumers.”

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