Carteret Selects Encompass Mortgage Management System

More Than 2,000 Loan Officers to Use Ellie Mae's Newest Loan Origination Technology

Dublin, CA-OCTOBER 15, 2003- Ellie Mae Inc., the leading provider of desktop and Web-enabled productivity solutions and software for the mortgage industry, announced today that Carteret Mortgage Corp., has selected Encompass™ for its loan origination and processing needs. Centreville, Virginia-based Carteret, one of the largest net branch mortgage brokerages in the United States, operates nationwide, with more than 2,000 loan officers generating billions of dollars in loans per year.

Carteret will deploy Encompass throughout the company's entire national operation beginning in November. The Encompass system will be used to manage all loan officer and processor pipelines from origination, pre-qualification, loan processing, lender submissions and settlement service ordering. The management mortgage system will also be used to standardize management reporting, while providing Carteret loan officers with contact management capabilities and enabling direct marketing to individual clients.

"Encompass will give us the kind of end-to-end visibility and control across the entire loan origination process that has not been possible until today," said Eric Weinstein, president of Carteret Mortgage Corp. "Having a dashboard view of all loan pipelines and initiatives will not only provide invaluable insight to our management team, but it will also significantly enhance loan officer and processor productivity. Encompass will enable us to have real-time information about loan production, our mix of purchases versus refinances, how much business we are doing with our lenders and service providers and, most importantly, the ability to better forecast revenue."

"Encompass complements our own internal solution and provides everything our loan officers require to effectively run their business," added Weinstein. "With the introduction of Encompass, it is clear that Ellie Mae truly understands the unique needs of our loan officers, processors and management team."

"Managing the origination process within a large organization can be a major challenge, especially when it spans multiple sites and territories," said Sig Anderman, chairman and CEO of Ellie Mae. "Carteret has an extremely successful and complex operating structure, and we are thrilled they have chosen Encompass for the system's rich-functionality and robust architecture. This win is a testament to the foresight of Carteret and the strength of the Encompass solution."

"Staying on top of the business and regulatory environment has rapidly become the top management agenda item," continued Weinstein. "Ellie Mae is an extremely forward-looking organization and understands the need to bring the loan origination process into the 21st Century, while making the process more accountable to ensure it delivers the best business value possible."

Ellie Mae's Encompass is the first mortgage software to integrate contact management, marketing, pre-qualification, loan origination and processing, management reporting, with desktop and Web-enabled technology in a single application. Encompass provides individual loan officer, processor and broker workspaces with built-in collaboration and monitoring tools to significantly improve the automation of the mortgage origination and funding process. Encompass may now be reserved for shipment mid-November.

To learn more about Encompass, visit www.freelosupgrade.com or call (888) 955-9100.

About Carteret

Carteret Mortgage Corp., was started in 1995 by Eric Weinstein, and is one of the largest net branch mortgage brokerages in the United States. Carteret Loan Officers work from home in self-sufficient branches, allowing higher pay, superior job satisfaction, improved self-esteem, lower mortgage rates and greater employee/family quality of life. For more information, visit www.carteretmortgage.com.

About Ellie Mae, Inc.

Ellie Mae, Inc., provides loan-origination software and services that automate the loan-origination process from lead to close. The company's ePASS Web-transaction platform is the industry standard, currently processing over 750,000 mortgage transactions monthly. ePASS enables loan originators to eliminate redundant work, close loans faster, and reduce loan-origination costs. Other Ellie Mae products include Executive Web Sites for automated lead generation and marketing, Contour and Genesis 2000 desktop software for advanced loan origination and processing, and Ellie Mae Docs for speedy, error-free electronic closing documentation. To learn more about Ellie Mae, please call 877-355-4362 or visit www.elliemae.com .

Copyright © 2003 Ellie Mae, Inc. All rights reserved. Ellie Mae®, ePASS®, Contour™, Genesis 2000™, Executive Web SitesT, Ellie Mae DocsT are the sole property of Ellie Mae, Inc.

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