Ellie Mae and Loan-Score to Integrate Platforms
Instant pricing and eligibility provide mortgage originators much-needed efficiency as rate drops bring unprecedented wave of applications
PLEASANTON and IRVINE, CA—February 9, 2009—Ellie Mae, the award-winning provider of innovative software and services for the mortgage industry, and Loan-Score, a leader in enterprise-class pricing and automated underwriting solutions (AUS), will be integrating Loan-Score's product and pricing solution, Power Pricer, with Ellie Mae's Encompass® Mortgage Management Solution, Banker Edition. This embedded integration will provide Ellie Mae's customers with the ability to quickly price and select loans through Loan-Score either at the point of sale or in back office functions—all directly from within Encompass Banker Edition.
"In this market, efficiency is a key aspect to profitability," said Jonathan Corr, Ellie Mae's chief strategy officer. "With this integration, we'll be providing our clients with access to Loan-Score's rules engine, so they can price and decision loans in a seamless, transparent fashion, right from Encompass Banker Edition. Those seamless integrations are a key aspect of the kind of efficiency that drives profits."
Loan-Score's Power Pricer is the product and pricing component of its comprehensive decisioning suite, which can be used for all lending channels and products, and is available as software-as-a-service (SaaS). In addition to centralizing pricing for all lending channels, Power Pricer also returns instant product eligibility and best-fit pricing, provides loan-level drill downs while in the pipeline, ensures that eligibility and pricing adhere to ever-changing investor guidelines, and much more.
Loan-Score and Ellie Mae already share mutual mortgage banking clients that are using Loan-Score's platform in concert with Encompass Banker Edition. In 2008, Loan-Score developed an integration that allows loan officers and brokers working within its Web-based application to price loans and determine product eligibility at the point-of-sale, then automatically populate borrower data into Encompass Banker Edition for underwriters and processors to work on files. This newly signed agreement takes the existing integration a step further, elevating the user experience with seamless, immediate access to Loan-Score's product and pricing engine. This instant, easy-access connectivity will enable users to not only get answers quickly, but also instantly return and populate those results back into the Encompass Mortgage Management Solution, all with a few simple mouse clicks.
"Our partnership with Ellie Mae makes a lot of sense because Encompass Banker Edition focuses on the more sophisticated lender that understands the value of implementing enterprise platforms," said David Colwell, executive vice president for Loan-Score. "Encompass Banker Edition is proven to be a contemporary, flexible LOS that delivers companywide operational efficiencies, and Loan-Score's PPE (product and pricing engine) is proven to offer true risk-based pricing and rules-based conditions management that significantly mitigate risk and maximize profitability. In essence, this new integration places an 'easy button' for accurate answers, within the Encompass Banker Edition LOS."
About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, offering comprehensive business solutions for mortgage bankers, mortgage brokers and lenders. The company's key offerings include the flagship Encompass® Mortgage Management Solution, 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, recipient of the prestigious Inman Award as the most innovative company in the mortgage industry, is recognized for developing technology that links the many parties critical to the mortgage origination industry through its ePASS® Network. One quarter of the nation's new mortgages originated every year pass through the ePASS platform, enabling mortgage companies to easily and securely conduct electronic business transactions with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is also the parent of Online Documents, the industry's leading provider of flexible, compliant electronic mortgage documents and related services for the mortgage industry. Ellie Mae was founded in 1998 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.
About Loan-Score Decisioning Systems
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems, offers a true, enterprise-class AUS and product/pricing engine available on a software-as-a-service (SaaS) and also a self-hosted basis for all lending channels and product types. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and rates to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable loans. The company's solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs and avoid inflexible programming efforts and high maintenance costs. Loan-Score's solutions are in production with small, medium and large lending institutions. For more information, visit www.loan-score.com or call 949-450-0102.
© 2009 Ellie Mae, Inc. All rights reserved. Ellie Mae, Encompass, and ePASS (patent No. 7,444,302) are registered trademarks and Encompass CenterWise, and Encompass Closer are trademarks of Ellie Mae, Inc. in the United States.