Description:
This article describes the many ways a loan file can be made inactive in Encompass, and reflect that status to nCino Mortgage. Please note all companies will have their own preferred best practices and should work with internal Admin to understand their process.
Steps to resolve:
The purpose of active / inactive loans in nCino Mortgage is to allow to loan officers to maintain a clean pipeline in our system, much like they do in Encompass. Once a loan is marked as inactive nCino Mortgage stops receiving loan updates on that loan. There are 3 different ways to configure the system to recognize a loan should moved to an inactive state.
Encompass:
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Field 1393 in Encompass - anything other than "active loan” will send an update to nCino Mortgage to mark it inactive.
- Note that the plugin has code to ignore “Loan Originated” (and send the equivalent of Active Loan) if the [MS.FUN] field is not set. This is the case for most companies because they want to wait for funding before marking the loan as inactive. This means you may see a loan that is marked “Loan Originated”, but is not inactive. In this case, check if the funding date is set.
- This "wait for MS.FUN” behavior can be disabled by checking this plugin setting, and the “Loan Originated” is sent to SN without [MS.FUN] being set.
nCino Mortgage:
These settings will require Company Admin to work with CSM or Support
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Loan milestones - within nCino Mortgage Admins can add any milestone that the company has under the inactive milestone feature. A loan that is saved under a milestone listed under the inactive milestone will be moved to inactive.
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Loan folders - similar to milestones, Admins can also list folders under the company level that if a loan is moved to one of these folders and saved, it will be marked as inactive in nCino Mortgage. Note* it is required that we are connected to the inactive folder in the encompass plugin as well otherwise we do not receive updates from folders that are not configured in the plugin
Have an Admin make sure the folder is a folder that the plugin is tracking by checking the main settings page of the plugin. If the folder is not being tracker an Admin will want to add it.
Borrower Experience:
- Once a loan is marked as inactive it will limit the interactions that a borrower can take with the loan. It will be a read-only loan for all things except for disclosure events. nCino Mortgage displays inactive loans to the borrower under a “past loan” dropdown on web.
FAQ:
- Loan officers can “hide” a loan, is this the same as a loan going inactive? - no, while this will hide it from their pipeline it doesn’t change the borrower experience and just impacts the loan officer. This is typically for loans that take a long time to close.
Additional resources:
- In support of lenders using Encompass that have a need to complete certain steps after a loan has closed/funded, there is a lender optional Active Loan Timeframe setting that will extend the timeframe for the loan to remain Active in nCino Mortgage when the loan has been set to “Loan Originated” statues [Field 1393]. Please work with CSM or Implementation to setup this setting if needed.