Case Study: Primary Residential Mortgage achieves faster investor turn times and improved loan quality with ICE Mortgage Technology

PRMI Simplifies Compliance and Elevates Quality with Innovative Encompass Configuration

Primary Residential Mortgage, Inc. (PRMI) is a Salt Lake City–based lender with 250 branches, licensing in 49 states and roughly $6 billion in annual residential loan volume. After a rapid rollout of Encompass, PRMI found its original setup—about 800 rigid business rules—created workflow bottlenecks and sequential error messages that slowed staff and made it hard to adapt quickly to changing regulations, investors, and product requirements.

PRMI reconfigured Encompass using custom forms, calculated fields and targeted logic (no SDK), introducing a consolidated loan-quality form and an exceptions form to show all restrictions at once and allow case-by-case overrides. The change improved loan quality and compliance, cut investor turn times from ~20 days to just over 8 days, reduced post-funding penalties from 15% to 5% (penalty costs down 58%, from 6 bps to 2.54 bps), lowered suspense conditions by 28% (0.40 to 0.29 per loan), shortened warehouse time from 25 to 20 days, and earned PRMI the 2018 Ellie Mae Hall of Fame award for Compliance Automation.

Primary Residential Mortgage

Corban Wells

Manager of Business Technology