Encompass Consumer Connect (ECC) Application

Borrowers start by selecting their branch and clicking "Apply Now" on the MI Financial website.

• Borrowers choose the branch they are applying through from a dropdown menu.
• They then click the "Apply Now" button to begin the application process.

They create an account, entering their name, email, and setting up 2-factor authentication.

• Borrowers enter their first and last name.
• They provide their email address.
• The system requires 2-factor authentication, so borrowers enter their phone number and select if it's a cell or home number.
• Borrowers then set a password to access their account.

The application begins with instructions on the information they'll need, like SSN, employment, income, assets, and liabilities.

• The welcome page lists the key information the borrower will need to complete the application, such as Social Security number, employment details, income sources, asset information, and liability details.

They select the loan purpose (purchase), loan type, property details, and if they are working with a real estate agent.

• Borrowers choose the purpose of the loan, which in this case is "Purchase of a home".
• They select the loan type they are interested in.
• They provide details about the property, including the estimated purchase price and source of down payment.
• If working with a real estate agent, they can enter the agent's name and contact information.

If applying with a co-borrower, they can indicate that here. Otherwise, it's a single borrower application.

• The application asks if the borrower is applying with a co-borrower.
• If yes, it allows them to indicate if they are married to the co-borrower and if the co-borrower's assets will be included.
• For this walkthrough, a single borrower application was demonstrated.

The application collects standard borrower information - personal details, current address, military service, citizenship, employment, income, assets, liabilities, and credit authorization.

• Borrowers provide their personal details, including marital status, dependents, and citizenship status.
• They enter information about their current address, including how long they've lived there and whether they own or rent.
• The application asks about military service and language preferences.
• Borrowers input their employment details, including employer name, job title, and income.
• They can add any additional sources of income, such as alimony, child support, or social security.
• The application collects information about the borrower's assets and liabilities.
• Borrowers authorize the lender to pull their credit report.

Borrowers can add additional income sources and expenses as needed.

• After the initial employment and income details, borrowers can add any other sources of income they have.
• They can also list any additional monthly expenses, such as child support or other debts.

Once the application is complete, borrowers review a summary and can make any necessary edits before submitting.

• The application provides a summary of all the information the borrower has entered.
• Borrowers can review each section and make any necessary edits before submitting the application.

After submission, borrowers can view the status of their application, upload requested documents, review and sign disclosures, and see a summary of their loan details.

• Borrowers can log into their account to see the status of their application.
• They can upload any documents requested by the lender, either by dragging and dropping or browsing their files.
• Borrowers can review and electronically sign any required disclosures.
• They can also view a summary of their loan details, including the purpose, estimated purchase price, and rate information.

The process is designed to be intuitive and user-friendly for borrowers, while also providing loan officers visibility into the application progress.

• The ECC application is structured to be straightforward and easy for borrowers to navigate.
• At the same time, it provides loan officers and other staff visibility into the borrower's progress and the ability to request and retrieve necessary documents.