Ellie Mae's ePASS to Offer Originators Streamlined Access to Freddie Mac's Loan Prospector®

Dublin, CA—July 15, 2004—Ellie Mae, Inc, developers of the Encompass® mortgage management system and ePASS® the industry-standard platform for connecting mortgage originators with their lenders and service providers, today announced it will provide a streamlined connection to Freddie Mac's Loan Prospector® (LP) automated underwriting system. This connection will provide customers two-way functionality, between LP and the originator's desktop, through ePASS, eliminating the need for file exports, redundant data entry and entering data outside of the loan origination system (LOS). Mortgage Originators will now have the ability to request and receive a Loan Prospector assessment, in as little as two mouse clicks, while keeping the data in their LOS in sync with the information provided to LP.

"Ellie Mae's ePASS puts Loan Prospector into the mortgage lender's and broker's desktop origination software, which further streamlines the loan origination process," said Marcia Davies, Freddie Mac vice president of product marketing and communications.

ePASS seamlessly and securely connects over 30,000 mortgage origination companies with their lenders and settlement service providers directly from the major desktop loan origination software, including Encompass, Contour, Genesis 2000, Point®, Harland, Byte, and PipeLine.

For the past 10 years, Freddie Mac's LP has delivered fast, objective loan assessments, and provided lenders and their sponsored brokers with access to many cost- and time-saving benefits, including streamlined processing, documentation, and property valuation.

The new integration with ePASS is designed to streamline the process even further. "LP is a dynamic tool that helps mortgage professionals meet their clients' needs," said Joe Tyrrell, Senior Vice President of Ellie Mae. "Our goal is to make the loan origination process as simple, fast and efficient as possible. By integrating Freddie Mac's LP into our client's desktops, through ePASS, we are literally bringing the power of automated underwriting to the mortgage originator's fingertips."

About Ellie Mae, Inc.

Dublin, California-based Ellie Mae, Inc., is the leading provider of desktop and Web-enabled mortgage-industry productivity technology. In October 2003, Ellie Mae introduced Encompass, the first enterprise-level mortgage management system, with individual loan officer, processor and broker workspaces in a single, secure, scalable system. Ellie Mae's ePASS Web-transaction platform is the industry standard, connecting more than 30,000 third-party mortgage origination companies to more than 250 wholesale lenders and 90,000 settlement service providers-enabling them to eliminate redundant work, close loans faster, and reduce loan-origination costs. Ellie Mae products also include Executive Web Sites for automated lead generation and marketing, Contour and Genesis 2000 loan origination software, and Ellie Mae Docs for speedy, error-free electronic closing documentation. To learn more about Ellie Mae, call 888.955.9100 or visit www.elliemae.com .

Copyright © 2004 Ellie Mae, Inc. All rights reserved. Ellie Mae®, ePASS®, Encompass®, Contour™, Genesis 2000®, Executive Websites™, Ellie Mae Docs™ are the sole property of Ellie Mae, Inc.