Encompass REPORT

TRENDS, TECHNOLOGY UPDATES AND USEFUL NEWS FOR MORTGAGE PROFESSIONALS
OCTOBER 2015
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. 

“This 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.

Mortgage 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
Credit 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.  

“Average 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 from TRID.”    

Ellie Mae Online ROI Calculator: Get Straight to the Bottom Line
ROI 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.

Also 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 operations.

INDUSTRY INSIGHTS
RESPA-TILA Online FAQs: Answers to Ease Compliance Growing Pains
RESPA-TILA 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?

Ask A Regulator: Answers Right from the Source
Fifty 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. 

Every 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.

PARTNER NEWS
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). 

The 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. 

BHL 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. 

BHL 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 investment properties). 

To learn more about BHL, contact Larry Maitlin at larry.maitlin@bancofcal.com.

Certified Credit Reporting Now Available in Encompass
Certified 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. 

CCR’s 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. 

For 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

RESPA-TILA READINESS
All-in-One – It Means One Solution for Every Loan, Every Stage, Every Day
  • Compliance. Quality. Efficiency. 
  • A single system of record. Proven ROI. 
  • All in one place. All RESPA-TILA ready.

Encompass by Ellie Mae delivers trusted performance for over 135,000 mortgage professionals.

Find out how Ellie Mae earned their trust. Find out what Encompass can do for your business.
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