- Business Rules
Ellie Mae Delivers a True Digital Mortgage with General Availability of Encompass Consumer Connect
Online Loan Application Experience Drives Leads, Offers Greater Transparency and Shortened Closing Times
PLEASANTON, Calif. – July 9, 2018 – Today’s homebuyer is over three times more likely to find their lender online versus just five years ago and over 60 percent of homebuyers in America today expect to apply for and complete their home loan application completely online1. To address the changing needs of digital homebuyers, Ellie Mae® (NYSE: ELLI), the leading cloud-based platform provider for the mortgage finance industry, today announced the general availability of Encompass Consumer Connect™, part of Ellie Mae’s Consumer Engagement Suite™ of solutions along with Velocify™ by Ellie Mae, Encompass CRM™ and Encompass Direct Mail™.
Encompass Consumer Connect gives Ellie Mae Encompass™ lenders the ability to offer a consumer web experience that goes beyond a mere online application. It is truly a state-of-the-art, completely customizable, branded and engaging digital mortgage experience for homebuyers – accessible from any device. The solution is provided at no additional cost to Ellie Mae Encompass digital mortgage customers.
“With Encompass Consumer Connect, Ellie Mae has created a transparent and efficient workflow, where the amount of change we have to introduce to our operations staff is minimal, but we save time and get a huge lift in our customer experience,” said Andria Lightfoot, SVP, Information Systems, George Mason Mortgage, LLC. “The real icing on the cake is that Ellie Mae understands that we want to uniquely brand and design this experience for our customers – we don’t just want to buy something off the shelf and look like everything else. We can customize almost every aspect of the platform.”
“We wanted to give our customers the ability to interact with us the way they wanted to interact with us,” said Brandon Durham, Product Support Manager, Homeowners Financial Group. “With Encompass Consumer Connect, if they want to sit in a coffee shop and apply online, or upload documents from their phone, we wanted to give them that option. If they want to sit across the desk and have someone personally guide them through every step, they could do that too. Encompass Consumer Connect lets us utilize an interview-style application with icons and pictures. It’s very user friendly, written in everyday language.”
Prospective borrowers will discover a secure, customized web experience where they can:
- research rates and loan options
- fill out a simple, conversational style loan application
- securely upload documents from any device
- receive real-time status updates
Lenders will move their businesses forward with capabilities that can:
- offer complete control and customization over brand and workflow
- automate services such as credit, product and pricing and asset verification
- enable interaction with borrowers for requested documentation and update via the secure borrower portal
“For lenders to effectively compete in today’s purchase-driven market, they need to be equipped to successfully reach the homebuyer at the point of thought,” said Joe Tyrrell, executive vice president of Corporate Strategy for Ellie Mae. “Encompass Consumer Connect offers an engaging online consumer experience for lenders to turn a consumer’s interest into a quality application that can be closed faster with complete transparency and compliance. Built-in analytics ensures every application is met with a customized and personal experience, and when Encompass Consumer Connect is coupled with our Encompass CRM marketing automation and Velocify sales automation solutions, lenders have the assurance that their consumers are engaged throughout every step of the loan origination process and that no borrower is left behind.”
Encompass Consumer Connect includes:
- Modern, responsive design: Homebuyers can easily access and navigate the lenders’ site and application from any desktop, laptop, tablet or smartphone, anytime and anywhere at their convenience.
- Easy configuration and controls: Lenders can control and customize their site design, application flow, specific business process workflow and ensure consistency of their unique and specific brand.
- Easily complete applications: Lenders can automate and authenticate data collection through integrated services, such as pulling a credit report and online asset verification, which allow consumers to accurately complete loan applications in less time.
- Secure online borrower portal: Lenders save time by giving consumers a paperless way to collaborate with lenders by allowing them to drag and drop documents or images into the portal, upload photos from a phone, eSign documents and receive real-time updates.
- Built-in business intelligence: Lenders will gain insight into consumer engagement and keep consumers connected with immediate follow up.
- More automation: Lenders will automatically receive applications in Encompass underwritten by Fannie Mae’s Desktop Underwriter® or Freddie Mac’s Loan Product Advisor(sm) to help close loans in fewer days.
- Native compliance: Whether or not a consumer completes the entire application, Consumer Connect leverages the business rules within Encompass to ensure lenders are alerted to any compliance obligations they may have, even with incomplete or abandoned applications.
For more information about Encompass Consumer Connect, visit: www.elliemae.com/consumer
1According to research from Velocify® by Ellie Mae
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.
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© 2018 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®, Velocify®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.