Over 15,000 Mortgage Originators Deploy Ellie Mae's Encompass360™

Users cite increased profitability, transparency and easy adaptability as primary benefits of new mortgage management solution

PLEASANTON, CA—October 12, 2009—Ellie Mae^®, the award-winning software and service provider offering comprehensive business solutions for mortgage bankers, brokers, and other mortgage originators, announces that over 1,000 lenders and more than 15,000 end users have upgraded to Encompass360™, Ellie Mae’s all new Mortgage Management Solution, which was launched in July 2009.  More than $20 billion in mortgage applications have been processed through Encompass360, since its launch.

“It’s easy to see why so many lenders have transitioned to Encompass360,” says Tom Reese, vice president for mortgage technology at 1st Mariner Bank, an Encompass360 customer.  “Everything about Encompass360 relays information in the most efficient way possible. With recent and upcoming regulatory changes, lower loan volumes and declining home values, profitability can become a challenge. Encompass360 allows us to stay as efficient and profitable as possible. I imagine that other Encompass360 users would state the same as a top reason for making the switch.”

Encompass360 offers the most comprehensive, accessible views into a company’s active and closed pipelines available by any technology on the market. With Encompass360’s wide angle oversight and drill down, loan level views, lenders can quickly access the information needed to make rapid revenue-boosting adjustments to their processes and business focuses. The system was also designed to be highly flexible and adaptable, so it enables users to quickly adapt to the many regulatory changes that the industry will be facing in the coming months and years.

“Most companies share the same goal, they want to secure and transact as many quality loans as possible—and Encompass360 gives companies the power to do just that,” says Shmuel Shayowitz, president of Approved Funding. “With Encompass360, we can locate areas of opportunity with a few mouse clicks. We can see which initiatives are producing the best returns, which branches and originators are doing the most production, and what type of programs are taking off or lagging behind. We have all the information we need to shift focus and get the quality of loans that fit within our fiscal and operational goals almost immediately.” 

In January 2010, the industry will be faced with a new set of RESPA regulations for required forms and disclosures, including the GFE (Good Faith Estimate) and HUD-1.  Because Encompass360 is fully configurable, making adjustments to comply with changing regulations is fast and easy, and won’t require the extensive restructuring that older, more antiquated systems do.

“One thing is a given: that we are in an industry of constant and frequent change,” says Jonathan Corr, Ellie Mae’s chief strategy officer.  “We address this issue head on with Encompass360. This system isn’t just the solution for today, it’s also the solution that will carry companies into the coming years, and beyond.  We’re very pleased with the overwhelmingly positive response to Encompass360, and see it as a clear indication of companies’ foresight and proactive efforts to be in control of the ever-changing regulatory environment, and most importantly, to solidify their positions and profitability both for today and well into the future.”

About Ellie Mae, Inc.
Ellie Mae is the award-winning provider of software and services for the mortgage industry, offering comprehensive business solutions for mortgage bankers, mortgage brokers and lenders. The company's key offerings include the newly launched flagship Encompass360™ Mortgage Management Solution, Encompass CenterWise™ websites and electronic document management services, and Encompass Closer document preparation services. More than 100,000 mortgage professionals use the Encompass^® Mortgage Management Solution. A recipient of the prestigious Inman Award as the most innovative company in the mortgage industry and acknowledged as a top technology service provider by Mortgage Technology magazine, Ellie Mae is recognized for developing technology that links the many parties critical to the mortgage origination industry through its patented ePASS^® technology. One quarter of the nation's estimated $2 trillion in new mortgage originations utilize Ellie Mae’s ePASS technology, which enables mortgage companies to easily and securely conduct electronic business transactions with dozens of leading lenders and thousands of settlement service providers.  Ellie Mae was founded in 1998 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.

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© 2009 Ellie Mae, Inc. All rights reserved. Ellie Mae, Encompass, and ePASS (patent Nos. 7,444,302 and 7,472,089) are registered trademarks and Encompass360, Encompass CenterWise and Encompass Closer are trademarks of Ellie Mae, Inc. in the United States.