Follow this article to create a Hybrid transaction in Stavvy!
Encompass Flow
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Open the loan in Encompass > go to the Forms tab > select RegZ - CD > click the eClose button to generate the closing package
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The PDD (Partner Document Delivery) interface will appear as an iFrame inside of Encompass
- This is native to Encompass and Stavvy has no edit access to this interface
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Step 1 - Settlement Agent
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Click the Configure Closing Type button
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From the dropdown select Stavvy
- Click Update
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From the dropdown select Stavvy
Note: You can override the Settlement Agent details if desired, although it is not recommended as it is pre-populated from loan data
Step 2 - Loan Audit
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Clicking Next will start the Loan Audit (ie Mavent compliance check)
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The Compliance Findings are displayed
- Findings will be labeled as Recommended and Required
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The Compliance Findings are displayed
- Once corrected click Next to generate Closing Package
Step 3 - Closing Documents
- If the Form Failure Report message is shown, information will be given on what document did not generate as well as the reason why. This is an Encompass-related data-entry issue and does not impact your ability to send documents to Stavvy. Proceed according to your company policy to address the error(s). To bypass the message, you can click Close.
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Review the listed Closing Documents
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- Document title, signature type, and document type are listed
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Note: If applicable, a Form Failure Report may pop up, which is an error message from Encompass indicating that there were error(s) in generating document(s)
- Click Add Additional Documents if needed
- Click Next
Step 4 - Signers
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Review the Signers
- Borrowers, Loan Officer, Settlement Agent, etc.
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Once reviewed and satisfied click Send to Partner
- The documents are now being sent to Stavvy
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A success confirmation message will be shown
- If for whatever reason there is an issue- that will be shown instead
Close the Success modal and be directed back to the previous page. Click the X to close out of the interface in order to return back to the loan file in Encompass.
Once documents have been sent, an entry is automatically recorded in Disclosure Tracking
Note: The disclosure tracking entry is set to a Pending Status by default and is updated to Active once all data and documents have been successfully received and stored by Stavvy. No action is needed to update the status to Active, it will automatically update as soon as the loan is exited.
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- Pending Status: Encompass does not recognize these as a valid set of disclosures (yet), which means that it does not recognize/include the disclosures in any compliance timelines, disclosure tracking logs, or reviews (ie Mavent ignores it); every Encompass component ignores it.
- Active Status: Encompass recognizes these as a valid set of disclosures, which means they are recognized/included in the compliance timeline, disclosure tracking logs, and Mavent checks.
- Double-clicking on the entry will open the Disclosure Details
- Review all of the documents sent over, who they were sent to etc.
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Click the Services tab
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Click Order Doc Preparation
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Select Stavvy
- Login
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Select Stavvy
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Click Order Doc Preparation
Stavvy Flow
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Click Add Order to create the Settlement order
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Click the checkbox for Settlement
- The Title option is disabled when an existing title order has already been created
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Click the checkbox for Settlement
- Enter the Settlement Due Date and select the Settlement Vendor.
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If the Vendor is not listed click invite the organization to connect and follow the steps.
- The Vendor does not need to accept the request prior to being able to assign the order to them, as soon as they are created they may be assigned.
- The Basic Info section is prefilled from Encompass
- Selecting a Closer is optional
- Click Create Order
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We are prompted to send a message to the Vendor if we would like
- Click Skip to not send a message
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Review the File Details page
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Confirm the borrower’s email and phone number
- This will be used for borrower authentication to Stavvy
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Confirm the borrower’s email and phone number
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The Settlement Order will show in Pending status until the Vendor accepts the order
- Option to reassign the order to another vendor or cancel the order
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There are 2 separate tabs for Title Documents and Settlement documents
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Clicking into the Settlement order documents tab to view the documents sent from Encompass
- If any changes need to be made to the documents follow the eClose flow in Encompass from above
- Previously uploaded documents will be Canceled in Stavvy and replaced with the new documents
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Clicking into the Settlement order documents tab to view the documents sent from Encompass
Create the eSign Packet
- Click the Edit in Stavvy button or go to: connect.stavvy.com
- Sign into Stavvy Connect
- Select the eSign Packets tab
- Click on the + Add eSign packet button
- Name the packet
- Click Next
- Select the documents to be included in the eSign packet by clicking in the checkbox
- Note the signing type beside the document title
- Click Next
- Note the signing type beside the document title
- The signer's information will pre-populate from Encompass
- Click Next
- The document annotations should populate, edits should not be needed.
- After reviewing documents select, Review packet details to send the packet
- Save and exit can be selected if you wish to send the packet at a later time
- After reviewing documents select, Review packet details to send the packet
- There is an option to add a message to be included in the invitation email
- The signing window will be set to the closing date
- Document Preview is enabled by default, uncheck the box to disable it
- Click Save & Send now to send the eSign packet invitation
Review Demonstration Below:
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