American Home Bank, N.A. Experiences Higher Efficiencies, Enterprise-Wide Visibility and Integrated Compliance
Bank deploys Ellie Mae’s Encompass Banker Edition for its retail, wholesale and builder joint venture mortgage channels
PLEASANTON, CA—October 20, 2008—Ellie Mae, the award-winning provider of innovative software and services for the mortgage industry, announces that Lancaster County, Pennsylvania-based American Home Bank, N.A., a mortgage banker with retail, wholesale and builder joint venture channels, has witnessed higher efficiencies, data accuracy and integrated compliance as a result of deploying the Banker Edition of Ellie Mae’s Encompass Mortgage Management Solution.
American Home Bank set out to find a new loan origination system, and it had important criteria to meet. First, it needed a system that would provide management real-time visibility into the company’s operations. “Before our conversion to Encompass Banker Edition, we had five separate databases, including a front-end/ loan originator database, core operations, secondary marketing, post-closing, shipping and accounting databases,” explains A.R. Smith, president of American Home Bank. “Now we have one real time database offering us origination to funding management opportunities.”
Furthermore, as a provider of construction-to-permanent financing, American Home Bank needed a solution that was customizable enough to accommodate the unique forms and processes of this niche segment. “For instance, the Truth-in-Lending statement is different in construction-to-perm financing than it is for traditional mortgages, and we needed a system that would accommodate nuances like this one,” says Smith. “We were also looking for a solution that would provide a more open environment, and offer the custom programming that could meet our multi-channel business needs while lowering operational costs.”
After evaluating available options, American Home Bank selected Encompass Banker Edition. “Encompass Banker Edition met all of our criteria and more. It enables us to operate efficiently in our three core channels—wholesale, retail and builder business—accommodating the unique requirements of each,” states Smith. “With Encompass Banker Edition, we have the flexibility to anticipate and respond to both internal and external factors. We are more nimble than ever, and prepared for growth in every channel of our business.”
American Home Bank’s new system has provided the kind of enterprise-wide visibility that the company desired. “With Encompass Banker Edition, we can account for literally every fee and every charge; we know what’s funding and which exceptions are coming back, all in real time,” says Smith. “That level of in-depth information enables us to better track and pursue profitability, which is very important, especially in today’s market.”
In addition to getting access to detailed real-time information, Encompass Banker Edition has also enabled American Home Bank to maintain its standards for high compliance levels and data accuracy. “Encompass Banker’s central point of control allows us to change templates for the entire company with just one action, so we’re always assured that we’re compliant with our forms,” adds Smith. “And since Encompass Banker is an end-to-end solution, the file doesn’t need to be physically transferred. Because the system is integrated, there’s no re-keying of data, which also cuts down on the possibility of errors.”
Jonathan Corr, chief strategy officer for Ellie Mae comments, “American Home Bank is demonstrating how the right technology can positively impact bottom line profitability, even in slower markets. The time is excellent for banks to improve their processes and more efficiently handle their mortgage loans.”
Since its first release in October 2006, Encompass Banker Edition has been deployed by more than 200 companies, gaining unprecedented market share as banks, credit unions and mortgage lenders seek ways to run their businesses more efficiently and cost effectively.
About Ellie Mae
Ellie Mae is an award-winning provider of software and services for the mortgage industry, offering comprehensive business solutions for mortgage brokers, mortgage bankers and lenders. The company's key offerings include the flagship Encompass Mortgage Management Solution, the Encompass WebCenter, Electronic Document Management (EDM), Encompass CenterWise™ and Encompass Closer. More than 150,000 mortgage professionals use the Encompass mortgage management solution, including two-thirds of the nation’s top 300 brokers and nine of the top 10. Ellie Mae is recognized for linking the many parties critical to the mortgage origination industry through its ePASS Network. One third of the nation's almost $2 trillion in new mortgages originated every year pass through the ePASS platform, enabling mortgage companies to easily conduct electronic business transactions with dozens of leading lenders and thousands of settlement service providers. 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.
2008 Ellie Mae, Inc. All rights reserved. Ellie Mae, Encompass, and PASS are registered trademarks and Encompass CenterWise, and Ellie Mae Closer are trademarks of Ellie Mae, Inc. in the United States.
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