Plus Platform announces integration with Encompass

Plus Platform, a New York-based software provider, is partnering with ICE Mortgage Technology's Encompass platform, to provide post-closing quality control and quality assurance reviews of loan packages before they are sold to investors.

The integration will be included in Encompass Investor Connect, a platform that connects lenders with investors and warehouse banks, facilitating the transfer of loan packages directly from the Encompass loan origination system to third parties.

The partnership will allow lenders to gather documents and standard data sets, then transfer them from the loan origination platform to Plus's asset management platform for inspection.

"Plus Platform is proud to deliver an automated experience to Encompass customers enabling them to centralize the movement of data and documents onto Plus's platform to assist with asset management," said Buck Collins, CEO of Plus Platform, in a press release.

The platform, which provides real-time access to mortgage data and loan documents, will  "efficiently prepare the reviewed data to the next owner of the loan, ensuring no file or data degradation in the loan transfer process," according to the release.

Ensuring the integrity of the data is important because while defects in general have been lower at times this year, mortgage applications submitted have had elevated issues with things like employment and income, which the secondary market investors like Fannie Mae require reverification of in post-closing reviews. 

Eric Kaplan, director of the Milken Institute Center for Financial Markets Housing Finance Program, said in a statement that Plus' management platform "addresses real long-standing needs." 

"If stakeholders had the functionality of Plus over the last few mortgage cycles, it would have made a tremendous difference on many levels," Kaplan said.