TRENDS, TECHNOLOGY UPDATES AND USEFUL NEWS FOR MORTGAGE PROFESSIONALS
ELLIE MAE NEWS
Ellie Mae to Acquire CRM Leader Mortgage Returns
On October 14, 2015, Ellie Mae®
announced the signing of a definitive agreement to acquire Mortgage
Returns, a leader in on-demand customer relationship management (CRM),
and marketing automation solutions for the mortgage industry. The
transaction is expected to close in the fourth quarter of 2015.
The move was made to immediately bolster the Ellie Mae Encompass CRM™ offering.
acquisition enhances our marketing platform and furthers our mission of
automating the entire end-to-end mortgage process for our customers,”
said Jonathan Corr, president and CEO of Ellie Mae.
Returns provides a database-driven automated marketing solution to help
mortgage originators maximize profitability from clients, prospects and
referral partners. Through the TRUE CRM® system, Mortgage Returns enables compliant and automated one-to-one marketing that delivers bottom-line results.
Ellie Mae Origination Insights: September Credit Scores Fall, Refi Volume Up
scores on closed loans fell to their lowest level since Ellie Mae began
reporting data in August 2011, according to our latest Origination
Insight Report. The average FICO score on all closed loans fell to 723.
Credit availability on refinances appears to have increased in Q3
of 2015 as the overall average FICO and DTI have loosened materially
from Q2 of 2015.
credit scores declined to the lowest levels we’ve seen since 2011,”
said Jonathan Corr, president and CEO of Ellie Mae. “We are also seeing
rates fall while the time to close is also decreasing. It will be
interesting to see if these trends continue as we begin to see impacts
Ellie Mae Online ROI Calculator: Get Straight to the Bottom Line
is achieved by reducing costs without impacting profitability. In the
mortgage lending industry, technology and automation can have a
powerfully positive impact on ROI. But just how much? Leveraging the
Ellie Mae Online ROI calculator delivers a quick, clear look at
potential profit increases.
available for viewing on the calculator’s web page is a case study
overviewing how Gold Star Mortgage Financial Group elevated their
operational efficiency and improved their ROI by automating their
RESPA-TILA Online FAQs: Answers to Ease Compliance Growing Pains
is real. No matter the level of preparation, many lenders will
experience growing pains as they navigate the new rules. To aid the
process, Ellie Mae has created a far-reaching list of RESPA-TILA FAQs
and answers. Authored by their team of compliance experts, this online
resource delivers clear, concise answers that can help provide a deeper
understanding of the new rules. Easily searchable, it allows visitors to
get right to the information they are seeking. For example:
Is there a penalty for providing both the current and new disclosures post October 3?
If the transaction has a mortgage broker, who should provide the Loan Estimate?
When do I need to provide a Closing Disclosure to a consumer? When do they need to receive it?
states, 50 sets of regulations – it can be overwhelming. Understanding
what’s important in the ones where you do business is essential, and
getting your answers straight from the regulators themselves is
outstanding, so we made it happen.
year regulators from across the country gather at the American
Association of Residential Mortgage Regulators (AARMR) Annual Conference
to discuss our industry and answer questions related to the regulations
they’ve authored and put in place. And every year AllRegs by Ellie Mae
puts together a list of your most pressing questions.
Banc Home Loans added to Encompass Product and Pricing Service Encompass Product & Pricing Service™ continues to expand its range of loan opportunities with the recent addition of Banc Home Loans (BHL).
Correspondent Lending Division of BHL, a division of Banc of California
N.A. (NYSE: BANC), provides delegated and non-delegated correspondent
customers with exceptional service and a full range of lending products,
supported by the resources of a $6.5 billion, Tier One bank.
helps customers grow their business with 48-hour underwriting turn
times, immediate responses to loan scenarios, minimal overlays to all
Agency guidelines (i.e., 500 FICO on VA; 580 FICO on FHA) and 100%
financing from Banc of California’s Warehouse Lending division.
also offers a comprehensive Renovation Lending solution for FHA 203Ks
and FNMA HomeStyle, as well as an expansive non-agency Jumbo Loan
offering (to $5M; $1M cash-out, to 660 FICO, $85LTV no MI to $2M, and
Certified Credit Reporting Now Available in Encompass
Credit Reporting (CCR) is a privately held, nationwide credit reporting
firm serving the mortgage industry since 1984, In addition to credit
services, CCR now offers flood services from directly within Encompass®.
With their innovative product offerings, creative pricing strategies,
and technological efficiencies, CCR's customer-first focus has earned a
stellar reputation by delivering accurate and timely reports and
services seamlessly through Encompass. In addition, CCR’s excellent
customer service goes beyond just the basics.
FCRA trained staff is knowledgeable, cross-trained and highly skilled.
The company has an uncompromising commitment to compliance, and is
vendor under a Section 342 Vendor, which mandates supplier diversity in
the financial sector.
emerging markets, such as Millennials, First-time Homebuyers, and the
growing diverse ethnic demographic, CCR is able to help you attract and
serve these unique markets with innovative products that anticipate
opportunities and respond to regulations – and are continually being
improved to help you do your job better