But in practice, do you treat the three-business-day Loan Estimate delivery clock as starting when the sixth application element arrives (say we finally get the property address at 2:15 p.m.), or when the file is marked complete in the LOS? I’m tightening our 2025 Encompass checklist and want to sanity-check common approaches — this is general discussion only, not advice; always confirm with your own compliance team and resources…
We start the clock at the sixth element timestamp — e.g., “2:15 p.m.” — and audit via Encompass; LOS completion is just workflow.
And interesting question; starting at the sixth element makes sense — it’s consistent with TRID rules. Have you found any common pitfalls with Encompass audits?
You know, treating it as starting with the sixth element makes it like waiting for the last piece of a puzzle to finally see the picture! I think it helps keep everything on track. Have you looked into any other systems that might synchronize better with your auditing requirements?
I’ve found that marking the Loan Estimate reactive to when we receive that sixth element is really beneficial for keeping everything squared away. It’s so crucial to have a clear timestamp when you finally get the property address; having that clarity can help avoid future issues, especially when we’re using tools like Encompass. Do you think your team might run into challenges if workflows aren’t consistently aligned with this approach?