Centier Bank Selects Ellie Mae's Encompass All-in-One Mortgage Management Solution
For Indiana’s largest family-owned bank, efficiency and compliance were deciding factors
PLEASANTON, Calif. – June 2, 2015 – Ellie Mae® (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced that Merrillville, Indiana-based Centier Bank, the largest private family-owned bank in Indiana, has chosen Ellie Mae’s Encompass all-in-one mortgage management solution as its technology to support its growing mortgage business.
According to Ronni Guldberg, Centier Bank’s vice president of mortgage operations, with the significant expansion of Centier Bank’s mortgage division over the past several years came the need to streamline its internal systems to manage growth. Hoping to reduce the number of internal systems it used, Centier Bank researched solutions from five different mortgage technology providers, including Ellie Mae. After carefully weighing the advantages and disadvantages of each system, the bank chose Encompass, Ellie Mae’s all-in-one mortgage management solution. Encompass provides a fully integrated solution which provides one system of record that allows mortgage lenders to originate and fund mortgages, improving compliance, loan quality and efficiency in the process.
With new RESPA and Truth-in-Lending regulations set to take effect this summer, compliance was among the most important factors in the bank’s decision. “Of all five systems we considered, only Ellie Mae seemed to be ahead of the curve with its Encompass technology enhancements and readiness initiatives to support the new integrated disclosure rule - RESPA-TILA,” Guldberg said, noting Ellie Mae’s free webinars and other resources provided by Ellie Mae to ensure clients are ready for the major changes that will be in effect on August 1, 2015. The other providers we looked at seemed to be stumbling through the new regulations, but Ellie Mae had done their research and really understood them.”
Encompass also fit in with Centier Bank’s reputation for personalized service, industry best practices and a rewarding work environment. Centier Bank has been named among the top 10 “Best Places to Work in Indiana” by the Indiana Chamber of Commerce and recognized by American Banker as one of the top 20 banks in the country to work for. Stated Jack Barkley, senior vice president and director of Centier Bank’s residential lending division: “We believe Encompass will help us attract and recruit talent, since having a compliant, streamlined lending process makes us a very attractive company for mortgage professionals.”
Since implementing Encompass in February, the results have been dramatic, Guldberg said. “We aren’t using all these other software programs anymore, because a lot of them are already integrated into the Encompass all-in-one solution. It’s much easier for our loan officers—plus we have the ability to customize Encompass to fit the way we do business.”
“We are delighted Centier Bank has chosen Ellie Mae to be its mortgage technology and compliance partner,” said Jonathan Corr, president and CEO of Ellie Mae. “Centier Bank has an amazing 120-year history of serving the financial needs of Indiana residents. We admire that achievement, as well the bank’s commitment to selling high quality mortgages and a compliant, more efficient lending process.”
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s Encompass® all-in-one mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
About Centier Bank
Since 1895, Centier Bank has been a family-owned and managed financial services provider. Centier is currently the largest privately-owned independent bank in Indiana, with more than $2.7 billion in assets, and remains committed to being owned and operated by the Schrage family in the future. The bank has retail banking locations in more than 26 communities throughout Lake, Porter, La Porte, Marshall, St. Joseph, Elkhart, Hamilton and Tippecanoe Counties in Indiana, with additional business banking locations serving Carmel/Indianapolis and Fort Wayne. For more information on Centier products and services, visit centier.com.
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