PLEASANTON, Calif.--()--Ellie Mae® (NYSE: ELLI), a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, today announced the Encompass360 Winter Release with the latest upgrades to its mortgage management solution. The release contains more than 400 updates and enhancements designed to further increase compliance, efficiency and ease of use.
“The broad array of enhancements in the Winter Release will help our clients take advantage of new opportunities being created within the correspondent lending market and continue to strengthen their automated compliance and reporting efforts.”
The major upgrades include:
- The integration of a second major investor as part of Ellie Mae’s Total Quality Loan™ (TQL) program, which helps instill quality throughout the loan lifecycle and expedites the sales process for correspondent lenders selling to specific investors. TQL enables lenders to quickly and consistently order the investor’s required services for fraud, compliance, valuation and verifications early in the sales process from within Encompass360, aligning with investor expectations. This can help improve relations between lenders and investors, enhance overall efficiency, reduce errors and improve loan quality.
- New enhancements designed to help lenders utilizing the correspondent channel. The company’s Encompass TPO WebCenter has been updated to provide additional data consistency checks and visibility that will help lenders and third-party originators (TPOs) work together more effectively. These ongoing improvements help support the growing number of correspondent lenders looking to expand their flow of acquisitions using Encompass360.
- Additional support for RESPA compliance, including an updated tool to enable client-driven policies for Good Faith Estimate (GFE) fee disclosures and new configurable Changed Circumstances reporting.
- Electronic document management enhancements, including the ability to batch export documents from one or more loan files; new document stacking capabilities that increase visibility and flexibility; additional performance improvements in document conversion and uploading; and new, flexible email templates that enable system administrators to easily develop company-wide, custom emails.
Many of the updates address compliance changes, including to the mortgage call report, to help lenders comply with home equity line of credit (HELOC) and reverse-mortgage reporting requirements for the Nationwide Mortgage Licensing System & Registry. New disclosure tracking tools to help lenders comply with recent federal and agency requirements for appraisals, and to track borrower-received dates for eDisclosure Fulfillment packages.
“Ellie Mae’s Encompass360 Winter Release integrates a second investor into our Total Quality Loan (TQL) offering. This program continues to gain traction among investors and our lender clients, whom are both looking to improve loan quality from origination through delivery,” said Jonathan Corr, chief operating officer of Ellie Mae. “The broad array of enhancements in the Winter Release will help our clients take advantage of new opportunities being created within the correspondent lending market and continue to strengthen their automated compliance and reporting efforts.”
About Ellie Mae
Ellie Mae, Inc. (NYSE: ELLI) is a leading provider of on-demand automation solutions for the mortgage industry. The Company offers an end-to-end solution, delivered using a Software-as-a-Service model that serves as the core operating system for mortgage originators and spans customer relationship management, loan origination and business management. The Company also hosts the Ellie Mae Network™ that allows Encompass® users to electronically conduct business transactions with the lenders and settlement service providers they work with to process and fund loans. The Company’s offerings include the Encompass, Encompass360® and DataTrac® mortgage management software systems.
Ellie Mae was founded in 1997 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.
© 2013 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®, DataTrac®, Ellie Mae Network™, Ellie Mae Total Quality Loan™ Program and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.