Ellie Mae Announces New Major Release of Encompass Digital Lending Platform
Release highlights include expanded HELOC origination support, ADA capabilities within Consumer Connect and enhancements for Correspondent and Wholesale Lending enhancements
PLEASANTON, Calif. – Feb. 11, 2019 – Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, announced today that it has launched a new major release of Ellie Mae’s Encompass Digital Lending Platform™. The latest release will help lenders of all sizes originate more loans, lower origination costs and shorten the time to close with compliance, efficiency and quality. Key highlights include expanded HELOC origination support, the addition of Americans with Disability Act (ADA) capabilities within Consumer Connect™ and Correspondent and Wholesale Lending enhancements.
“Ellie Mae is offering a true digital mortgage solution to help our customers succeed in today’s competitive marketplace,” said Jonathan Corr, president and CEO of Ellie Mae. “With this new release we’re offering multi-channel opportunities for growth with innovation to help lenders engage with more homebuyers, capitalize on the growing HELOC demand and boost loan acquisition productivity and efficiencies for correspondent and wholesale channels.
Key highlights for the Encompass Digital Lending Platform 19.1 release include:
Expanded HELOC origination support: To streamline the HELOC loan qualification process for consumers, Ellie Mae has added a new HELOC calculator to Encompass designed to enable Loan Officers to identify the maximum draw amount and credit limit. In addition, to help lenders sell HELOC loans on the secondary market faster, Ellie Mae has added the ability to view all HELOC details within a lock request transaction and a Lock Request Form that seamlessly integrates with the Encompass Product & Pricing Service™ HELOC programs.
Consumer Connect ADA enhancements: To make Consumer Connect sites, the Borrower Portal and loan application accessible to everyone, Ellie Mae is introducing out of the box ADA accessible website templates, borrower portal and loan application. These new templates conform to the usability standards set forth by the Web Content Accessibility Guidelines (WCAG) 2.0 Level A and AA. WACG 2.0 is an industry-standard set of guidelines for creating web content that is accessible to a wide range of people with disabilities.
In addition, new borrower widgets offer the ability to add a Consumer Connect loan application and/or borrower portal into a lender’s existing online presence to streamline and integrate the experience for consumers.
Correspondent and Wholesale Lending Enhancements: The 19.1 Encompass Digital Lending Platform release also includes significant enhancements to TPO Connect™, Ellie Mae’s broker and correspondent seller portal solutions. These include automated document upload notifications, multi-channel workflow enhancements and support for additional third party credit provider integrations to help correspondent investors and wholesale lenders collaborate more effectively with brokers and sellers. It also includes enhanced trade management purchase advice workflows to help correspondent investors acquire loans faster.
For more information about the Encompass Digital Lending Platform, visit: http://www.elliemae.com/encompass/encompass-overview
About Ellie Mae
Ellie Mae (NYSE:ELLI) 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.
This press release contains forward-looking statements under the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the benefits to Ellie Mae’s customers of the Encompass Digital Lending Platform 19.1 software release. These statements involve known and unknown risks, uncertainties, and other factors which may cause actual results to be materially different than those expressed or implied in such statements. The forward-looking statements included in this press release are made only as of the date hereof. Ellie Mae cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Ellie Mae expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances, unless otherwise required by law.
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