Ellie Mae Debuts New ePASS Technology: ClickLoan

Newest Product Provides Efficiencies to Mortgage Lenders

Pleasanton, CA—March 13, 2002—Ellie Mae Inc., a provider of Internet and software solutions for mortgage originators, today announced the availability of its newest product in the ePASS family, ePASS ClickLoan. ClickLoan will eliminate existing complexities with loan file import/export and manual form-filling processes currently required on today's lender and vendor Web sites, thereby creating a seamless user experience for the originator.

ePASS ClickLoan technology can be integrated into any wholesale lender's existing Web site to completely eliminate the tedious and redundant steps of importing, exporting and manually entering information. The ClickLoan technology automatically identifies and transfers a loan application or its required information directly from the loan origination system into the lender or vendor site in only two clicks. The technology can be used for any function that requires data transfer including prequalification, submission, locking or settlement service ordering. Any data contained in the Genesis 2000®, Calyx® Point® or The Loan Handler®, whether it is in the 1003, 1008 GFE or other forms, can be easily submitted. ClickLoan can be implemented into a Web site within a week's time, with minimal programming involved.

In March 2002, IndyMac, as part of its alliance with Ellie Mae, became the first lender to utilize the ePASS ClickLoan technology on its wholesale Web site, www.indymacb2b.com. Once implementation is completed at the end of 2002's second quarter, originators will be able to transfer loan information seamlessly through IndyMac's Web site.

"We understand that with today's technological capabilities, mortgage professionals are constantly seeking the easiest, most efficient and effective solutions available," said Frank Sillman, director of Sales and Marketing for IndyMac Bank's B2B Lending Group. "Joining forces with Ellie Mae provides a great complement to our existing underwriting system by enhancing our user experience and increasing our customer satisfaction. ePASS ClickLoan will save our users time as well as reduce the errors associated with manual data entry."

"Until recently, customers entering a Web site of a wholesale lender or a third-party service provider would be required to transfer a loan application for processing through a series of complicated and time-consuming steps," said Sig Anderman, CEO of Ellie Mae. "ClickLoan streamlines the entire process, providing added benefits to both originators and wholesale lenders. Like all Ellie Mae partners, IndyMac strives to improve mortgage technology solutions across the board, bringing ultimate efficiencies to mortgage professionals. Alliances like ours with IndyMac help fulfill our goal of improving every aspect of the mortgage process."

About IndyMac

IndyMac Bancorp, Inc. (NYSE:NDE) is the holding company for IndyMac Bank, a leading technology-based mortgage banker with proprietary, award-winning systems to facilitate, among other things, automated underwriting and risk-based pricing on a nationwide basis. IndyMac's mortgage banking group offers multi-channel distribution of its mortgage products and services through a nationwide network of mortgage brokers, mortgage bankers and community financial institutions in addition to programs offered directly to consumers and through realtors and home builders. IndyMac Bank also provides community lending services through its limited Southern California branch system. IndyMac Bank is FDIC-insured and offers a full array of Web-enhanced banking services in addition to its core mortgage products and services and provides commercial loans to homebuilders across the nation for the purpose of constructing new single-family residences. For more information about IndyMac, visit the company's Web site at www.indymac.com.

About Ellie Mae, Inc.

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.