- Business Rules
Ellie Mae and Wells Fargo Funding Expand Encompass Investor Connect Integration
Document delivery added to offer further streamlined digital mortgage workflows for joint customers
PLEASANTON, Calif. – Oct. 28, 2019 – Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, announced today the expansion of the integration with Wells Fargo to offer document delivery in addition to data delivery through Encompass Investor Connect™.
The expanded collaboration includes the ability to transmit documents in addition to data, providing holistic loan delivery prior to funding. It enables the ability to manage the types of documents required, reducing the possibility of suspense due to missing documents and leading to faster funding.
“The expanded integration between Wells Fargo and Ellie Mae offers a greater degree of automation and simplifies key processes for our joint customers,” said Patrick Hellman, SVP, Wells Fargo Home Lending – Capital Markets. “By adding document delivery to our existing data delivery capabilities through Investor Connect, our clients will realize increased efficiency in their shops and faster funding from us – without compromising quality.”
Investor Connect is the secure system-to-system workflow between lenders and correspondent investors that ensures delivery of accurate and compliant loan packages as part of the Encompass™ Digital Lending Platform. It supports the needs of lenders and investors, removing the manual loan package delivery process by automating directly from the Encompass® LOS to the investor. This improves purchase times while enhancing efficiency, accuracy and compliance. Today, Investor Connect includes eight of the 15 largest correspondent investors and represents 53% of all closed loan delivery volume.
Ellie Mae also has established partnerships with other correspondent investors, with more to be announced. With the addition of documents to a growing base of correspondent investors, the workflow can be more consistent for lenders. Over 200 Encompass lenders use the Investor Connect integration to deliver to these correspondent investors, representing over 10,000 transactions per month.
“Ellie Mae’s mission is to automate everything automatable for the residential mortgage industry,” said Parvesh Sahi, senior vice president of business development for Ellie Mae. “Wells Fargo’s expansion into document delivery further streamlines key processes for our mutual customers and provides a better user experience that is aligned with market expectations.”
For more information about Investor Connect, visit https://www.elliemae.com/encompass/encompass-investor-connect
About Ellie Mae
Ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
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