ditech Selects Ellie Mae's Encompass Mortgage Management Solution
New Loan Origination System (LOS) Is Pivotal to Lender’s Planned Multi-Channel Expansion
PLEASANTON, Calif. – July 22, 2014 – Ellie Mae® (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced that Ditech Mortgage Corp (“ditech”) has selected Ellie Mae’s Encompass® as its mortgage management solution.
ditech provides residential mortgage products through a team of Home Loan Specialists who are easily accessible by phone, online and in-person. The company’s Correspondent Lending division has a legacy of building successful business solutions and partners with 600+ financial institutions nationwide, providing capital market expertise and financial stability.
ditech plans to implement Encompass to support a nationwide expansion of its lending operation. Patti Cook, president of DT Holdings, parent company of ditech, said, “We selected Encompass because it enables us to deliver a high-touch experience for all of our customers – those who work with Home Loan Specialists in our retail locations, those who contact us online and over the phone and those who are members of the correspondent banking community.”
Denise Palko, vice president of technology solutions at ditech, added, “We expect that Encompass will help deliver greater efficiencies, strong compliance, loan quality and help us to wow our customers. We are currently rolling out the solution to our Retail channel, and we plan to have our entire organization, including Retention, Wholesale and Correspondent divisions on Ellie Mae’s Encompass.”
ditech has embraced Ellie Mae’s software-as-a-service (SaaS) and Success-Based Pricing offerings. Ellie Mae’s Success-Based Pricing is tightly aligned to the client’s success in originating loans, allowing the company to pay for their software and services based on the number of loans they close every month.
“For every company that sees technology as a purely defensive solution, there are others, like ditech, who view technology as a strategic opportunity to grow their business and market share,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We are pleased to be part of their growth strategies and look forward to helping them provide exceptional service for their customers.”
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 the ability to utilize Encompass to increase productivity and the ability for customers to implement Encompass solutions effectively and in a timely manner. Additional risks and uncertainties related to the Ellie Mae’s business are discussed in the Company’s Securities and Exchange Commission filings, including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 and most recent Quarterly Report on Form 10-Q. Unless otherwise required by applicable laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Ditech Mortgage Corp (“ditech”) is a well-known home lender. Headquartered in Fort Washington, PA, the company provides residential mortgage products through a team of home loan specialists who are easily accessible by phone (1-800-700-9212), online and in-person. The company’s Correspondent Lending division has a legacy of building successful business solutions and partners with 600+ financial institutions nationwide, providing capital market expertise and financial stability. For more information, please visit www.ditech.com.
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 all-in-one Encompass® 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.comm or call 877.355.4362 to learn more.
© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®, DataTrac®, Ellie Mae Network™, Total Quality Loan™, TQL™ 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.
Campbell Lewis Communications