1st Metropolitan Branch Burns Down,
Recovers in Record Time

Thanks to use of Encompass® Anywhere Web-based loan origination system and 1st Metropolitan's corporate support, branch production escalates uninterrupted

Dublin, CA—August 21, 2006—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has revealed that a 1st Metropolitan Mortgage branch that burned down was able to recover with virtually no down time thanks to Web-based technology and corporate support.

In March 2006, a Little Falls, New Jersey branch of 1st Metropolitan Mortgage suffered total fire devastation. As soon as management at 1st Metropolitan found out, they acted quickly to offer much-needed assistance. "We dedicated ourselves to getting the branch back up and running," explains Daniel Jacobs, CEO of Charlotte-based 1st Metropolitan Mortgage. "We went through everything they had lost, contacted the insurance company and made miscellaneous arrangements. We have emergency plans for cases like these. That's when we realized that, fortunately, they had recently switched to Encompass Anywhere. All the loan data they had entered into the loan origination system was still intact and totally accessible via any Internet connection. It was incredible news."

Encompass Anywhere, a hosted version of Ellie Mae's loan origination software, empowers users to access their loan data from any Internet connection, at any time. As such, staff from the Little Falls branch was able to resume operations with virtually no down time by accessing their information from a remote location. "They had just switched to Encompass so they did not lose one day of production," says Jacobs. "They went through one day with the fire department and the next day they were back to doing business." In fact, much to the amazement of the branch owners, the branch was able to grow loan production the month of the fire, and even tripled the number of loans closed in the month after the fire.

Although original documents had been destroyed in the fire, the branch utilized the information stored through Encompass to quickly access crucial pieces. "Having all of the electronic data instantly available allowed the branch to replace the critical documents they still needed," adds Jacobs. "They knew what they had and didn't have because of the powerful document tracking system within Encompass Anywhere."

Since Encompass stores information on each phase of the loan process, loans in various stages were salvaged. "There were closed files that needed to be paid out," explains Ron Steele, 1st Metropolitan Mortgage's chief information officer. "Having the electronic information allowed the branch to approach lenders for the documentation they needed to submit to our QA department and get paid out as though nothing had happened. They knew exactly which loans were open, which had closed and funded, and which hadn't been paid commissions."

1st Metropolitan Mortgage even utilized the information stored and accessed through Encompass Anywhere to identify and address lender oversights. "In the 24 to 48 hours that they were in disarray, there were a few things that fell through on the lender end, but since they were on Encompass Anywhere, our lender relations department was able get involved with lenders to help expedite the closings, so that the closings didn't fail," adds Steele.

1st Metropolitan Mortgage credits Encompass Anywhere in large part for the branch's continued success throughout the office's destruction and relocation. "The fire didn't hurt their production one bit, and a huge part is because of the Encompass Anywhere software," says Jacobs.

Jane Shebroe, branch manager of 1st Metropolitan Mortgage's New Jersey branch now located in Fairfield, N.J., finds tremendous value in Encompass Anywhere. "We're really relieved that our loan data was in Encompass," she says. "Encompass saved us from a lot of grief."

The outcome may not be a surprise to some. "Web-based technology offers a great deal of flexibility and peace of mind," explains Joe Puthur, director of hosted and professional services at Ellie Mae. "With Encompass Anywhere, we're eliminating the problems that can come from data theft, property loss, hurricanes, fires, etc."

The launch of Encompass Anywhere has been a huge success for Ellie Mae. "Since the release of Encompass Anywhere last year, 15,000 users have deployed this version of Encompass," adds Puthur. "At a lower cost than what most of us pay for our cell phones on a monthly basis and no fixed costs, brokers can enjoy all the benefits afforded by Encompass Anywhere. For 1st Metropolitan and many others, it's an excellent choice."

About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, which was recently named to the Inc. 500 list of America's fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company's flagship Encompass® mortgage automation system, Contour™ and Genesis 2000® loan origination software, Encompass Websites™ for mortgage brokers, and Ellie Mae Docs™ services for document processing. Ellie Mae's ePASS® Network is the mortgage industry's online transaction platform enabling all mortgage companies in the United States to easily do business online with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (888) 955-9100.

About 1st Metropolitan Mortgage
1st Metropolitan Mortgage, headquartered in Charlotte, N.C. and a division of Empire Equity Group since 2002, is a national mortgage brokerage, is licensed in 49 states with approximately 270 branches nationwide. Leveraging the 23 years of experience of its parent company, MetroBranches have the economies of scale to offer not only the a broad range of loan products through its 150 lenders, but also the newest and most innovative loan products geared toward true financing solutions customized to each borrower's individual needs.

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Ellie Mae, Encompass, ePASS, and Genesis 2000 are registered trademarks, and Contour, Executive Websites, and Ellie Mae Docs are trademarks, of Ellie Mae, Inc. All rights reserved.