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All the News You Need to Know: Ellie Mae’s Announcements at MBA Annual
When Ellie Mae was acquired earlier this year, many people assumed progress might slow on our mission to provide the true digital mortgage. But as we kick off MBA Annual with lots of exciting news, these assumptions couldn’t be further from the truth.
We have a laser-focus on driving toward our mission through a strategy of building, buying, and partnering. If you take a look at the news coming out of MBA Annual, we’ve stayed true to this promise—to drive down costs, increase efficiencies, and help customers and prospects get the most out of the Encompass® Digital Lending Platform.
Here’s an overview of some of the news from this week:
Lender Insights Survey: Technology driving change
Technology has changed nearly every aspect of the mortgage industry, from how lenders generate leads to how borrowers complete an application. The new 2019 Ellie Mae Lender Insights Survey has uncovered important insights about how online and mobile tools have reshaped the overall homebuying experience, as well as lenders’ and buyers’ expectations of each other. For instance, nearly half of lenders (49%) offer borrowers a mobile app experience – and among those that do, more than half (54%) saw their loan volume increase by 5% or more. Learn more.
Welcome, Chase: Encompass Investor Connect partnerships now represent +50% of closed loan purchasing volume in US
Chase is the newest partner to leverage Ellie Mae’s Encompass Investor Connect™, allowing lenders to improve purchase times and enhance efficiency, accuracy, and compliance. With this new partnership, Investor Connect now includes 8 of the 15 largest correspondent investors, representing over 50 percent of all closed loan purchasing volume in the United States. Chase joins 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. Learn more.
Wells Fargo: Increasing automation and efficiency with Encompass Investor Connect
We’re excited to announce the expansion of the integration with Wells Fargo to offer document delivery in addition to data delivery through Encompass Investor Connect, helping to simplify key processes for our joint customers. Investor Connect is the secure system-to-system workflow between lenders and correspondent investors that ensures the delivery of accurate and compliant loan packages – all within the Encompass Digital Lending Platform. The expanded collaboration includes the ability to transmit documents in addition to data, providing holistic loan delivery prior to funding. It enables the ability to manage the types of documents required, reducing the possibility of suspense due to missing documents and leading to faster funding. Learn more.
Texas Capital Bank: Warehouse lending simplified with Encompass Investor Connect
Texas Capital Bank, a top three warehouse lender, is now live with Ellie Mae Encompass Investor ConnectLearn more., which provides automated funding requests and data delivery directly from their system of record to Texas Capital Bank. Investor Connect for Warehouse Lending Services automates the delivery of secure, complete loan information from lenders directly to warehouse bank platforms.
The Ellie Mae Marketplace™ is the one-stop shop designed to make it easy for lenders to find, engage and connect directly with the industry’s largest partner network. The Ellie Mae Marketplace serves as the central hub for Ellie Mae lenders of all sizes to explore all members of the Encompass Partner Network of solution providers, industry service providers, investor partners and consulting partners. Lenders will have direct access to partner profiles to help them understand and select the options that meet their unique needs. Learn more.
Welcome to our new TQL partners
We’re expanding our Ellie Mae Total Quality Loan® (TQL®) program with three new partners – Essent, Genworth Mortgage Insurance and National MI – to offer a more streamlined mortgage insurance ordering process. These integrations through the TQL program give Encompass digital mortgage customers process improvements, automated ordering, and access to data and alerts. Learn more.
Encompass LO Connect + Securityplus = Customer Success
Securityplus Federal Credit Union (FCU) has increased loan volume by 25 percent and reduced their time to close loans by 16 days with their implementation of Encompass LO Connect™, the mobile solution for LOs on the go. By enabling loan officers to originate loans and manage pipelines from anywhere, they increased revenue-generating activities by 50 percent overall, and out-of-office activities like open houses, realtor visits and relationship-building by 30 percent. Learn more.
For those attending MBA Annual, drop by and see us at Booth #613!