Ellie Mae Adds First American CoreLogic's Property Pak to its Online Encompass Appraisal Center
One-stop solution adds accuracy and saves time as appraisers receive detailed appraisal orders and property information online
PLEASANTON, CA, August 18, 2008—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has partnered with First American CoreLogic, a member of the First American Corporation (NYSE:FAF) family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, to provide a time-saving, one-stop solution that allows appraisers to retrieve the appraisal order and the property data required to begin the appraisal process.
Ellie Mae’s Encompass Appraisal Center is a free online service that enables appraisers to receive electronic appraisal orders from loan originators using the Encompass Mortgage Management Solution. Currently, approximately 250,000 appraisals are ordered each year through the Encompass Appraisal Center. With the Property Pak, appraisers can retrieve those orders and simultaneously receive up-to-date property information, including a property detail report, a transaction history report, sales comparable report, street and aerial maps, parcel map and a flood map. Appraisers can purchase the Property Pak as either a single report package or on a monthly subscription basis.
With the Property Pak, appraisers are able to eliminate the need for time-consuming search and collection of property information from multiple sources. First American CoreLogic collects and updates property-level real estate data and imagery from more than 10,000 government and proprietary sources on a daily basis. By partnering with First American CoreLogic, Ellie Mae is offering appraisers fast and easy access to the most current information from a recognized leader in property and homeowner information, covering more than 140 million properties in more than 3,050 counties.
“This partnership with Ellie Mae enables appraisers to rapidly access the most current and comprehensive property database available,” said George Livermore, chief executive officer of First American CoreLogic.
“Through this partnership with First American CoreLogic, we’re continuing our effort to make the mortgage process as fast, easy and compliant as possible for all parties involved,” added Richard Roof, senior vice president of Ellie Mae.
About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500 company that traces its history to 1889. With revenues of approximately $8.2 billion in 2007, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.
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 ePASS are registered trademarks and Encompass CenterWise, and Ellie Mae Closer are trademarks of Ellie Mae, Inc. in the United States.
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