Leading Correspondent Lender, Home Point Financial, Extends Use of Ellie Mae Solutions to Become Newest Ellie Mae Partner on Encompass Investor Connect
PLEASANTON, Calif. – May. 5, 2020 – Ellie Mae®, the leading cloud-based loan origination platform provider for the mortgage industry, announced today that Home Point Financial, a national mortgage originator and servicer, is the newest partner to leverage Ellie Mae’s Encompass Investor Connect™. With Home Point’s new partnership, Ellie Mae has 13 of the top 20 largest correspondent investors as Investor Connect partners, making available more than 70% of the aggregator market in the United States to Ellie Mae’s Encompass® customers via Investor Connect.
During this time of limited liquidity and high volume, investors are encouraging lenders to deliver their closed loan packages directly from Encompass using Investor Connect. For the lender, this means faster delivery to investors like Home Point Financial, improved efficiency, minimal clicks and fewer conditions. And for the investor, this capability means increased velocity and cleaner loan packages for faster review and purchase times.
“Home Point is committed to partnering with strong and stable technology providers to deliver a streamlined experience for our lender partners, both during these trying times and when it is business as usual,” said Steve Landes, Sr. Managing Director, Correspondent Lending at Home Point Financial. “We are thrilled to extend our partnership with Ellie Mae by adding Investor Connect to the suite of products we already use from them. Investor Connect helps us gain operational efficiencies while providing a more seamless digital mortgage experience for our sellers.”
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 Ellie Mae Digital Lending Platform. It supports the needs of lenders and investors, providing a more efficient loan package delivery process by automating it directly from the Encompass LOS to the investor. With Encompass lenders representing a significant portion of all loans sold to closed loan purchasers, secondary market Investor Connect users are tapping into a large part of the industry while improving purchase times and enhancing efficiency, accuracy and compliance.
In addition to using Investor Connect, Home Point Financial leverages Encompass to process post-closed purchase reviews and Ellie Mae AIQ to help automate workflows and underwriting. Home Point has worked closely with Ellie Mae on the design and rollout of new products and has been investing heavily in technology systems to automate the mortgage process.
“We are thrilled to welcome Home Point as our newest Investor Connect correspondent investor 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. “Home Point Financial is focused on offering their sellers improved delivery and efficiencies while improving their own review and purchase times. Our mutual customers will benefit from the partnership as Home Point is a forward-thinking lender that continues to leverage technology to benefit both their sellers and their internal processes.”
Ellie Mae has established partnerships with correspondent investors AmeriHome, Chase, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez (formerly New Penn Financial), TMS and Wells Fargo, with more partnerships to be announced.
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.
# # #
© 2020 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.