- Business Rules
Mr. Cooper Selects Ellie Mae's Encompass to Support Wholesale and Non-Delegated Channels
Mr. Cooper deployed the Ellie Mae Encompass Digital Lending Platform and Encompass TPO Connect to implement and optimize as a single lending platform for their multi-channel operations
PLEASANTON, Calif. – September 23, 2019 – Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that Mr. Cooper® the nation’s largest non-bank mortgage servicer and a leading mortgage lender, has deployed the Encompass™ Digital Lending Platform and Encompass TPO Connect™ for its wholesale and non-delegated channels. TPO Connect optimizes lender’s wholesale and investor’s non-delegated correspondent channels through a fully equipped, customizable and interactive web experience built on the Encompass Digital Lending Platform, allowing lenders with multiple channels to leverage a single solution.
As a result of its acquisition of Pacific Union Financial in February 2019, Mr. Cooper acquired the Wholesale and Non-delegated Correspondent lending channels and technologies. This amounted to a total of five differing Loan Origination Systems (LOS) to manage and maintain, including some that were unable to support the mandatory URLA changes expected in 2020 and others that were inefficient and required supplementary manual upkeep.
After successfully utilizing Ellie Mae’s Encompass™ for its Direct-to-Consumer Channel, Mr. Cooper turned to the Encompass Digital Lending Platform for some of their third-party businesses due to its system optimization, reasonable cost, ease of use and quick implementation timeline. Use of TPO Connect and the Digital Lending Platform enabled Mr. Cooper to significantly reduce the cost and complexity of its total solution footprint while allowing for a more seamless, true multi-channel lending platform experience.
“We were looking for an opportunity to streamline our technology for a seamless platform experience, and Ellie Mae helped us to achieve that goal,” said Tony Ebers, Chief Operating Officer of Mr. Cooper Group Inc. “With Ellie Mae’s support we are offering an interactive web experience that optimizes our channels to increase volume and profitability while ensuring data accuracy.”
“Encompass TPO Connect is designed to enable lenders to extend the Encompass Lending Platform to their wholesale and correspondent partners through an interactive web experience that provides a streamlined experience for all non-retail channels,” said Jonathan Corr, president and CEO of Ellie Mae. “We’re thrilled to be able to support Mr. Cooper through its evolution and provide comprehensive solutions that streamlines workflow across all channels.”
For more information on Encompass TPO Connect, visit: https://www.elliemae.com/encompass/sales-marketing/encompass-tpo-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.
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