Knowledge Base

The Loan Comparison Tool in Lender Toolkit’s PowerTools™ automatically detects changes in loan data. It monitors field updates and key events, then highlights any discrepancies so users can stay informed and avoid unexpected issues during the loan process.

Why It’s Helpful

• Automatically tracks changes across loan milestones
  
• Highlights differences in loan data with visual alerts
  
• Helps ensure consistency and accuracy
  
• Allows authorized users to override and confirm changes when needed
  
• Customizable for company specific scenarios
  

Activation

To turn this tool on:

1. Log in to Encompass® as a Super Admin.

2. Open LTK PowerTools™ from the Encompass® menu. Confirm the license includes the Optimized or Enterprise Tier.

3. Click Settings > PowerTools™ Optimized tab.

4. Turn on the Loan Comparison by clicking On.

Important: After activation of the Tool, be sure to wait for the prompt stating that the download is complete prior to continuing.

5. Ensure a license number populated and restart Encompass®.

Configure Scenarios

1. Open a loan (preferably a test loan) as a Super Admin.
   
2. Go to the LTK – Loan Comparison input form.
   
3. Click Admin Settings at the bottom of the form (only visible to Super Admins).
   
4. Once the Loan Comparison Settings window opens, click the Add icon  to add a new scenario or highlight an existing scenario to edit and then click the Edit icon.
   

Scenario Builder Overview

Each scenario includes:

1. Scenario Name: A clear, descriptive name.
   
2. Filters: Conditions defining when the scenario applies (e.g., loan type, field values).
   
3. Comparison Rows: The fields that will be monitored and how discrepancies should be displayed.
   
4. Comparison Columns: Rules defining when snapshots are taken and when comparisons are triggered.
   

Setting Up Filters

Filters help determine when a scenario should be used. They can be created using:

• Field
  
• Value
  
• Operator (e.g., equals, contains)
  
• Join? Logical connectors (AND/OR) to join multiple filters. The join must be placed on the prior filter.
  

Setting Up Comparison Rows

Comparison rows establish what data is monitored and how differences are flagged. To add a Comparison Row, click the Add icon  in that section.  Administrators can configure each row with:

1. Display Text – Enter a description for the field that will display on the form.
   
2. Show As – Indicate if this field will be shown as a section header or a field within the form.  If Section Header is selected, only the Display Text will be editable.
   
3. Field – Select the field to display.
   
4. Description – Populates with the Encompass® field name.
   
5. Data Type – Populates with the field data type.
   
6. Compare As – Select from the values in the dropdown menu (string, integer, decimal). This will enable the range feature.
   
7. Ignore Borrower Pairs – Select if the comparison should ignore borrower pairs.
   
8. Add Field Compare Details – Select to enable the Comparison Types.
   
9. Comparison Type – Select the comparison type (e.g., percentage, exact match)
   

To evaluate only an increase in value, prefix the number with a +. In this example, the scenario will trigger if the field increases by more than 3.0%.

To evaluate both, do not add a prefix.

Note: It is recommended to not have more than 20 fields being evaluated in any scenario as it could cause performance issues with the tool.  When adding more than 20 rows, a message will present.

Setting Up Comparison Columns

Comparison columns determine when snapshots occur and who can confirm changes. Administrators will need to create custom fields to be used to identify changes. 

Important: Only one scenario can be tied to one custom field.

To add a new comparison column, click the Add icon  to the right of the comparison columns section.

Each comparison column will include:

• Trigger Types: This field determines how the snapshot is triggered for the column.
  
• Milestone Completion
  
• Encompass Field
  
• Lock Confirmation
  
• Column Validation Field: Select a custom field to be used to indicate the value change. This field will be set to “X” when at least one of the fields in the column do not match the Current Value. 
  
• Override Personas: Specifies which user roles can confirm changes if the current values are acceptable.
  

Below is an example of what the form will look like when a discrepancy for a decrease in income is identified after the loan was initially approved. The attribute that changed is highlighted with the error color and a Confirm Changes button appears to those personas who have the override capability as determined in the “UW Approval – Conventional” scenario that was created.

Installed Components

• Custom Form: LTK – Loan Comparison Tool
  
• Codebase Assemblies: None
  
• Custom Data Objects: LoanComparisonToolSettingsV3.json
  
• Plugins: LTK- LoanComparisonPlugin.dll
  

Custom Fields Created: