Ellie Mae, Inc. Introduces Paperless Document Delivery System for Mortgage Professionals

MortgageMail Enables Secure Transmission of Sensitive Documents From Any Software Program Over the Internet

Cleveland, OH-June 17, 2002-Ellie Mae®, Inc., a provider of Internet and software solutions for mortgage originators, today announced the availability of MortgageMail(SM), its secure electronic document delivery system for mortgage professionals. The new feature enables originators and processors to send and receive loan documents and information to co-workers, borrowers, Realtors and remote locations such as laptops.

According to company officials, MortgageMail was designed primarily to reduce processing time, reduce miscellaneous loan fees and increase the customer service. Because all forms and documents are transmitted electronically, time that was previously spent printing, faxing or mailing documents can now be spent on more strategic business issues. In addition, MortgageMail is available for a monthly fee, unlike per-package costs of courier services, fax machines, and other similar electronic delivery systems.

"Because I am able to send and receive loan documents quickly and securely with Mortgage Mail, I can provide faster service to my customers and cut down my FedEx and faxing costs," said Shirley Parker, president of Parker Mortgage Services, Inc. "Ellie Mae's MortgageMail has two great advantages: it makes my customers happier and my business more profitable. Every mortgage professional should have this."

Another benefit of MortgageMail is compatibility. Any form or document that can be printed from any software program can be delivered electronically via MortgageMail. Once submitted to the secure Ellie Mae server, an email message is automatically sent to the recipient, notifying them that they have a document waiting.

"MortgageMail combines the convenience and speed of e-mail and e-fax with a level of security not found in even the traditional delivery methods," said Jack Trageser, vice president of e-Commerce for Ellie Mae. "Technology is supposed to make things faster and cheaper, and MortgageMail accomplishes both goals the first time it's used."

MortgageMail securely transmits any type of loan information, including loan files and data including disclosures, applications, closing documents, credit reports, Truth-in-Lending statements and more. Ellie Mae ensures secure data transfer and capture using the Secure Sockets Layer (SSL) encryption method, the security standard used by the majority of leading financial institutions. Users can further secure their transmitted documents by creating individual accounts and passwords and restricting access to certain users.

About Ellie Mae®

Ellie Mae, Inc., headquartered in Pleasanton, Calif., is the leading Internet enabler for the mortgage brokerage industry and the largest Loan Origination Software (LOS) provider in the U.S. Offering brokers the ePASS (electronic Processing And Submission System) Business Center, a B2B e-commerce platform, as well as customized Web sites, hosting services, and LOS packages, Ellie Mae enables mortgage originators to harness the power of the Internet, giving them a competitive advantage in the fast changing residential mortgage arena. For additional information visit www.elliemae.com or call 877-355-4362.

Some of the information in this news release may be forward-looking information under the Private Securities Litigation Reform Act of 1995. Forward-looking information, which includes forecasts, projections and predictions of future events or performance, is subject to and involves risks and uncertainties, which could cause actual results to differ materially from the forward-looking information. As a result, investors should not rely unreasonably on the accuracy of forward-looking information.

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