Ellie Mae, Inc. (NYSE:ELLI)
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3 Months : From Apr 2018 to Jul 2018
Releases Drive Quality, Compliance and Efficiency for Encompass
and Encompass TPO Connect
Mae® (NYSE:ELLI), the leading cloud-based platform
provider for the mortgage finance industry, announced today that it has
launched a new major release of its Encompass®
digital mortgage solution. The release of Encompass 18.2 will help
lenders of all sizes originate more loans, lower origination costs and
shorten the time to close with compliance, efficiency and quality.
Specifically, the new major release of Encompass includes compliance
updates related to Know Before You Owe (KBYO) and the Home Mortgage
Disclosure Act (HMDA), and Construction Workflow and Correspondent
Trades. Ellie Mae also announced plans for new innovative Encompass TPO
Connect® functionality that will be available later this month.
“Our mission is to provide complete digital mortgage technology to help
our customers succeed by enabling them to close more loans by increasing
efficiencies, reduce the time to close by offering intelligent
automation and reducing the cost to originate,” said Jonathan Corr,
president and CEO of Ellie Mae. “With the 18.2 major release of
Encompass, we are providing expanded support and new capabilities to
improve efficiency, transparency and workflow automation while offering
the quality and compliance synonymous with the Ellie Mae name.
Additionally, by offering an array of new functionality to Encompass TPO
Connect, we're helping our third party originators be more productive
while growing their businesses.”
The major release of Encompass 18.2 includes:
Know Before You Owe Mortgage Disclosure Updates: Implementation
of the first phase KBYO Technical Corrections rule published by the
Federal Register on August 11, 2017 with a mandatory implementation date
of October 1, 2018. Updates were made to the Loan Estimate and Closing
disclosure for treatment of gift funds, closing cost expiration after
Intent to Proceed and other workflows to incorporate these technical
Construction Loan Workflow: Updates to cash to close calculations
on the Loan Estimate and Closing Disclosure input forms to align with
KBYO clarifications and guidance for construction and
construction-to-permanent transactions. This represents a significant
improvement in workflow and efficiency for construction loans originated
on the platform.
Extensions for Correspondent Trades: Continued investments in
solutions that enable a seamless, automated workflow with correspondent
lenders that reduces the time to qualify and purchase loans.
Correspondent lenders can now request, and investors can now initiate
trade expiration date extensions for multiple loans within a trade,
removing the friction and manual communication process between lenders
and investors that is often required to extend loan expiration dates.
To help correspondent investors and lenders originate better loans
faster, Ellie Mae also announced upcoming enhancements to Encompass
TPO Connect, Ellie Mae’s solution for optimizing wholesale and
correspondent channels. The following updates will be available in late
Individual login credentials for TPOs with multiple sales
Configurable loan buckets to organize loans by lifecycle stage, size
and geography for easier management and reporting.
Disclosure tracking status reports that enable TPOs to easily identify
the status of their loan disclosure sent to TPO Connect administrators.
Plus new functionality to enable lenders to customize their website user
experience based on their business workflow:
The ability to embed third party content in the TPO website with
secure scripting to provide TPOs with customized workflow and improved
The ability to create a customizable web page login, enabling lenders
to extend their brand to their TPO Connect websites.
Customizable milestone fields that give lenders transparency into the
status of their TPO’s loans.
For more information about Encompass, visit: http://www.elliemae.com/encompass/encompass-overview
For more information about Encompass TPO Connect, visit: https://www.elliemae.com/encompass/sales-marketing/encompass-tpo-connect
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for
the mortgage finance industry. Ellie Mae’s technology solutions enable
lenders to originate more loans, lower origination costs, and reduce 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.
This press release contains forward-looking statements under the safe
harbor provisions under The Private Securities Litigation Reform Act of
1995. These forward-looking statements include statements regarding the
benefits to Ellie Mae’s customers of the Encompass 18.2 software
release. These statements involve known and unknown risks,
uncertainties, and other factors which may cause actual results to be
materially different than those expressed or implied in such statements.
The forward-looking statements included in this press release are made
only as of the date hereof. Ellie Mae cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, you should
not place undue reliance on these forward-looking statements. Finally,
Ellie Mae expressly disclaims any intent or obligation to update any
forward-looking statements to reflect subsequent events or
circumstances, unless otherwise required by law.
© 2018 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180416005060/en/
Ellie Mae, Inc.Erica Harvill, 925-227-5913Erica.email@example.comAllison+PartnersAlexandra
Gardell Kreuter, 646-428-0618EllieMae@allisonpr.com