Ellie Mae Unveils ePASS Appraisal Connection

ePASS Now Provides Direct Access to Every Licensed Appraiser in the U.S.

Pleasanton, CA—February, 2003—Ellie Mae® Inc., the leading provider of integrated products to empower originators, today announced the launch of its new ePASS® Appraisal Connection which streamlines the appraisal process. With Appraisal Connection, Ellie Mae now provides mortgage originators with the ability to locate any licensed appraiser in the U.S., order and receive appraisals directly from their desktop.

Through the ePASS Appraisal Connection, users can instantly and electronically order appraisals, receive order confirmations, receive completed appraisals, upload appraisals into their loan origination software (LOS) and communicate directly with their appraiser, via instant messaging capabilities. The instant communication and message archive capabilities free originators from the burden of faxing multiple documents, communication via the phone, voicemail or fax. These new features work directly with the originators LOS, eliminating the need to re-enter information into the LOS after the appraisal is received.

"Accepting appraisals electronically, will considerably speed up the process. It allows us to instantly assign the orders and eliminates redundant data entry" said Anthony Blackburn, President, Apple Appraisal, Inc.

The ePASS Appraisal Connection is a faster way to do business with any appraiser a broker currently uses, and also includes a Power Search option that uses a number of user-defined criteria such as location, turn time or appraisal cost, when a broker needs to locate a new appraiser. ePASS users also can easily create a "My Appraiser List" for quick access to their appraisers. Originators can include in their list any appraiser, located anywhere through Ellie Mae's extensive database of every licensed appraiser in every U.S. state.

"Our new ePASS Appraisal Connection is another valuable feature within ePASS that makes the process of ordering an appraisal as easy as ordering credit," said Joe Tyrrell, senior vice president of Ellie Mae. "Appraisal Connection simplifies the appraisal process without interfering with the existing trusted relationship an originator has with his or her local appraiser."

Ellie Mae's ePASS® is free to use, and works with Calyx® Point®, Contour and Genesis 2000 LOS systems. To learn more about ePASS visit the company's Web site at www.elliemae.com .

About Ellie Mae

Based in Pleasanton, CA, Ellie Mae, Inc. provides a complete line of innovative products that streamline loan origination, from lead to close, all integrated at the core, through ePASS. Originators equipped with Ellie Mae products are able to easily manage each step of the loan origination process: Executive Web Sites for lead generation and automated marketing, Contour and Genesis 2000® Loan Origination Software systems for originating and processing, ePASS Business Center for quick, direct access to GSEs, lenders and service providers and Ellie Mae Docs for speedy, reliable document closing. For additional information, visit www.elliemae.com or call 877-355-4362.