Ellie Mae Adds Domestic Processing Partner to its New Processing Network

Contract Processing becomes provider on Encompass Processing Network

DUBLIN, CA—November 14, 2005—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has announced the addition of Contract Processing, Inc. to its Encompass Processing Network. Based in Corona, California, Contract Processing becomes the first provider of domestic contract processing services on the Encompass Processing Network, which enables Encompass users to easily order outsourced loan processing services from within Encompass.

"Ellie Mae has really hit the mark by launching the Encompass Processing Network," explains Jennifer Quinteros, president and CEO of Contract Processing. "That's because the demand for contract processing services has gone up exponentially over the past few years, primarily as a result of the decentralization of loan officers. These days, loan officers often lack the time, experience or compliance expertise to effectively process their own loans, so contract processing is a great option. Yet, finding a trusted contract processing company can be a difficult task. That's where the Encompass Processing Network will really make a difference. Now brokers can tap reliable contract services on a moment's notice, whenever they need them."

Ellie Mae's management feels confident in its selection of its second processing partner. "Contract Processing is an excellent choice for the Encompass Processing Network," states Joe Puthur, director of hosted and professional services at Ellie Mae. "It has a proven ability to process loans quickly and effectively, with great focus on compliance and customer service. The company is dedicated to offer a premium level of service, and knows how to leverage technology in order to do so."

Even before joining the Encompass Processing Network, Contract Processing has found great value in leveraging Encompass. "We have been using Encompass exclusively since March 2004," says Quinteros. "Encompass is a great asset to our organization in terms of the technology and the automation. It has allowed us to almost triple our production. And since we're now using Encompass Anywhere, the hosted version of Encompass, we can continue to expand nationwide knowing that we have a scalable loan processing platform which can be accessed from anywhere, at any time."

Contract Processing sees many benefits from transitioning from being an Encompass user to an Encompass partner. "Being on the Encompass Processing Network means that it will be simpler for our customers to submit loans to us, and for us to process their loans effectively while maintaining excellent lines of communication," adds Quinteros. "With a simple click from within Encompass, our customers will be able to order loan processing and submit a file. We'll be directing our customers to submit loans through the Encompass Processing Center, which will provide us loan files via a unified entry system versus by phone, e-mail, fax and courier."

The Encompass Processing Network enables originators to easily submit a file for processing. Originators simply select a processor from the "Services" tab within Encompass, and with a few mouse clicks can submit files for processing without the time or expense of having to fax or courier files. As the processors gather documents needed for processing and closing the loan, a single electronic loan file is maintained in which all pay stubs, disclosures and forms are imaged and sorted. When processing is completed, the loan file is returned electronically to the originator, enabling mortgage originators to maintain a paperless loan file.

The Encompass Processing Network enables real-time collaboration and anytime visibility into loan status. "The status online feature of Encompass is a big plus for our customers and for our processors," states Quinteros. "Through this feature, the exact status of a loan is posted securely online so that both the borrower and the broker can view it at any time. It will make the whole process much smoother and there will be no reliance on phone calls or e-mail to find out loan status."

The Encompass Processing Network is accessible exclusively to Encompass users, as Encompass is uniquely designed to enable the collaboration required for originators to have their loan files seamlessly processed by third parties. The Encompass Processing Network, announced in October, is scheduled for release by the end of the year with Contract Processing and E-OPS Loan Processing as the initial providers.

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.

About Contract Processing
Contract Processing Inc (CPI) is a premier provider of complete mortgage loan processing, compliance, quality control and consulting services to the mortgage industry. CPI enables originators to focus on originating loans while it provides all of the processing related services required to fund a loan efficiently in an average of 15 days. Through its fully equipped corporate processing center, CPI is able to provide screening and training along with onsite supervision to its processors to ensure the highest possible quality on every file. Its unique rehire program enables brokers to retain their processors while releasing themselves of high overhead, salary and recruiting costs. To learn more about CPI, visit www.contractprocessing.com or call toll free (888) 852-6402 or (951) 808-3000.

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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.