Ellie Mae Announces Next Upgrade of Encompass® LOS

Enhancements for business development and loan processing, updated 1003 and more included

DUBLIN, CA—November 14, 2005—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has announced that later this month it will be distributing the next version of its mortgage automation system, Encompass 2.8. The latest version of Encompass will feature a number of very significant enhancements for new business development, loan processing, electronic document management, and administration. It includes new prequalification and loan comparison tools, an employment verification service, an updated 1003, and a simplified appraisal ordering function.

"As the market starts to slow down, we want to make sure that originators using Encompass have as many tools as possible to help them generate and close new business as quickly and cost-efficiently as possible," states Jonathan Corr, Chief Strategic Officer for Ellie Mae. "And with the updated 1003 going into effect on January 1, 2006, this seemed like a perfect time for our Encompass 2.8 release."

The new Encompass prequalification tool enables originators to quickly conduct a comprehensive prequalification through a single form, without having to visit many different forms to enter a broad range of data such as income, assets, liabilities, and closing costs. The form features easy-to-interpret visual cues to illustrate whether the borrower is qualified or pending qualification.

The new loan comparison tool empowers originators to conduct a comprehensive loan comparison which feature visual cues to help borrowers easily identify scenarios for which they qualify.

The employment verification service improves the processor's efficiency by using an electronic verification service to request and complete employment verifications. Originators no longer need to print verification of employment forms and chase employers to get the information they need. Verifications are requested electronically right from within Encompass and are received in less than three business days.

To ensure compliance, the 1003 has been upgraded to meet January 2006 Fannie Mae requirements. The updated 1003 is mandatory for all mortgage originators, which means that everyone must use updated forms in 2006 in order to be compliant.

Thanks to an all-new appraisal ordering interface, originators can save time when ordering appraisals by sending order details to their preferred appraiser directly from Encompass. The service is now offered at no charge to either the broker or the appraiser, and is easier to use than the prior service. There's no need to re-type order details, print forms, or fax documents.

Additional Encompass 2.8 Enhancements

• Loan officers can easily manage recurring calendar appointments in the Contact Manager. Using the Contact Synchronization optional feature, recurring appointments can be synchronized with Outlook and ACT!
• eFolder support has been expanded. Originators can easily manage electronic documents in a wider variety of file formats including Word, PDF, TIFF (graphics), and text-only documents.
• To extend their company's branding, originators with an Encompass Website can brand the Loan Center with their company's own logo. The Loan Center is the Ellie Mae Website where Encompass users can see their online loan status and where electronic document management users can send their borrowers to get updated loan status and documents that need to be signed.
• Partners, such as realtors, have easy access to loan status and loan-related electronic documents through their own log-in to the Loan Center.
• A new auto-save setting reduces the risk of accidentally losing recently entered loan information. Users can specify how frequently loan files should be automatically saved.
• Loan files imported from Contour™, Genesis 2000®, or Calyx® Point® can be assigned new Encompass loan numbers during the import—allowing users to maintain a consistent loan numbering system across all loan files.

Encompass 2.8 will be available by the end of November and is being unveiled at the Western Regional Mortgage Brokers Conference in Las Vegas, Nevada on November 14th, 2005. Encompass customers with current maintenance agreements will be able to upgrade to Encompass 2.8 at no additional charge. For more information, originators can visit www.EllieMae.com or call (888) 955-9100.

Ellie Mae, Inc. and its products are not affiliated or associated with Calyx Software or Point. Point is a registered trademark of Calyx Software.

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.

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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.