Ellie Mae Increases Annual Transaction Estimates to 4 Million

Leading Mortgage Technology Solutions Provider Announces Record Quarter Results with Over Half a Million Transactions a Month

Chicago, IL-October 21, 2002-Ellie Mae® Inc., a leading provider of technology solutions for mortgage originators and host of the ePASS® Business Center, the industry standard Internet transaction platform, connecting originators to lenders and settlement service providers, today announced that it handled over 1.3 million transactions in the quarter ended September 30, 2002 and revised its guidance for 2003 upward to 4 million transactions.

"The 17,000 mortgage origination companies that have activated the ePASS Business Centers now have electronic access to over 200 of the top wholesale lenders and nearly all of the industry's settlement service providers through a single platform that simplifies and expedites the loan process. As we continue to add lenders and enhance the functionality enjoyed by originators, we expect to see transaction numbers continue to rise," said Sig Anderman, CEO of Ellie Mae. The ePASS Business Center provides originators direct, point-and-click access to lenders, settlement service providers, Fannie Mae® and Freddie Mac, and a variety of contract underwriters directly from their loan origination software (LOS) systems.

The company, recently named the fastest growing private company in the San Francisco Bay Area by the San Francisco Business Times , also announced an increase in its annual forecast, and expects to reach 4 million transactions for the year ending December 31,2002. Developed as a free tool for mortgage originators to conduct business faster and more efficiently, ePASS also provides significant benefits to lenders and settlement service providers by creating a more effective method for receiving loan files or data accurately and securely from any of the leading Loan Origination Software (LOS) systems.

About Ellie Mae®

Ellie Mae, Inc., headquartered in Pleasanton, California, is the leading Internet enabler for the mortgage brokerage industry and the largest Loan Origination Software (LOS) provider in the United States. Offering brokers the ePASS(SM) Business Center (electronic Processing And Submission System), a B2B e-commerce platform, as well as customized Web sites, hosting services, and LOS packages, Ellie Mae(SM) 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.

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