Carteret Mortgage Corporation Standardizes on Ellie Mae®'s Encompass® Mortgage Management Software

More than 1700 Carteret brokers nationwide to use Ellie Mae's mortgage management system

Dublin, CA—October 26, 2004—Ellie Mae Inc., the award-winning provider of innovative software and services for the mortgage industry, today announced that Carteret Mortgage Corporation, the second largest mortgage brokerage in the United States and an early adopter of Ellie Mae's Encompass® mortgage management system, will be migrating all 1700 of its brokers to Encompass.

"There is a symbiotic relationship between Carteret and Ellie Mae because we were both early adopters of Internet technology," said Eric Weinstein, Founder and President, Carteret Mortgage Corporation. "With Encompass, Ellie Mae is using Internet technology to take loan origination to the next level. They have developed a superior system that gives us insight to the entire loan process at a granular level, with increased compliance capabilities."

"Unlike most origination software, Encompass was designed to support the separate needs of the loan officer, processor, and mortgage broker," said Jonathan Corr, Sr. Vice President of Products, Ellie Mae. "Because Encompass has integrated access to our ePASS® Network, Carteret brokers can pull credit, order appraisal, title, flood, and submit to lenders online from any location. This integration and simplicity makes loan origination easier and faster than ever before-and enables third-party originators to differentiate themselves with superior customer service."

Carteret Mortgage's network of brokers access Encompass remotely through a secure ASP solution provided by Lasso Technologies.

"Our success is due to our unique business model that takes strategic advantage of the Internet to reduce overhead by letting brokers work remotely from their homes where allowable by law," said Weinstein. "Ellie Mae understands this concept. With the ability to access the system through an ASP, our brokers can easily convert to Encompass without having to download anything to their computer-they simply have to log in."

Next Generation Software

Encompass was designed to take origination software to the next level with advanced features such as customized reporting, executive dashboards, contact management, seamless collaboration, built-in support for workflow, secure file and form transfer, mobile use, and more.

Encompass has been already been adopted by thousands of originators across the country since its first release in December of 2003. Ellie Mae provides free installation and configuration support, and offers free online training for all users. Customers can arrange their Encompass installation by calling their sales representative or the toll-free Ellie Mae Customer Support number: 1-888-955-9100.

About Carteret Mortgage Corporation

In 1995, Carteret Mortgage Corporation opened for business as a Virginia mortgage broker. Today, the company operates nationwide, including Washington, D.C., with over 1700 loan officers generating billions in loans per year, and growing. In 2004, Carteret Mortgage Corporation made the Inc 500 list for the fourth time. To learn more about the company, please visit: www.carteretmortgage.com .

About Ellie Mae, Inc.

Ellie Mae, Inc. is an award-winning provider of software and services for the mortgage industry, which has been recognized in each of the past three years as one of the fastest growing companies in the California Bay Area, and most recently has been 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 management system, Contour™ and Genesis 2000® loan origination software, Executive Web Sites 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 40,000+ mortgage companies in the United States to easily do business online with hundreds of leading lenders and nearly 100,000 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.

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