Press Release

Ellie Mae Expands Encompass Investor Connect

Correspondent Investors Now Represent More Than Half of Closed Loan Delivery Volume in US

PLEASANTON, Calif. – May 20, 2019Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced the expansion of Encompass Investor Connect™ with partnerships that now include 7 of the 10 largest correspondent investors and representing more than half of all closed loan delivery volume.

Ellie Mae has established partnerships with correspondent investors AmeriHome, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez (formerly New Penn Financial), TMS and Wells Fargo, as well as other top ten banks, with more partnerships to be announced in the coming quarters.

Encompass 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 pricing tiers and purchase times while enhancing efficiency, accuracy and compliance.

“We continue to see significant momentum with Encompass Investor Connect as we further our mission to help originators and purchasers achieve a true digital mortgage,” said Parvesh Sahi, senior vice president of business development for Ellie Mae. “With the majority of the largest correspondent investors as our partners, we represent more than half of closed loan delivery volume. Many providers only look at digitizing the front-end of the mortgage transaction. However, as we continue to look at digitizing the entire mortgage process, Encompass & Encompass Investor Connect is helping lenders and purchasers reduce costs and increase efficiencies that benefits all players in the mortgage ecosystem.”

“Since coming on board with Encompass Investor Connect we are seeing impressive results and an improved seller experience,” said Eric McCall, vice president, First Home Mortgage. “To date we are saving about 3 to 5 minutes per loan file. While that might not sound like much, we originate over 10,000 loans a year, and therefore those minutes per loan add up to thousands of hours saved as well as better relations with our Investors. Additionally, we are excited to embrace all that Investor Connect has planned as Ellie Mae continues to improve the selling workflow and reduce the time and friction associated with legacy processes.”

“Our partnership with Ellie Mae helps us deliver greater efficiency to our correspondent customers while simplifying the loan delivery process,” said Kristy Fercho, President, Mortgage, Flagstar Bank. “With Encompass Investor Connect we extend the digital experience to the loan purchase workflow for the ultimate benefit to all players in the ecosystem.”

Ellie Mae’s Encompass® digital mortgage solution helps lenders succeed in today’s highly competitive, highly regulated market. The solution is fully connected so lenders have one system of record for loan data and provides an all-in-one solution for compliance, quality and efficiency at every loan stage. Encompass 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.

For more information about Encompass 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.

PRESS CONTACT

Erica Harvill
Ellie Mae, Inc.
(925) 227-5913
Erica.harvill@elliemae.com

Alexandra Gardell Kreuter
Allison+Partners
(646) 428-0618
EllieMae@allisonpr.com

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© 2019 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.

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