Ellie Mae and PLATINUMdata Integrate REALview™ collateral valuation review technology with Encompass360
PLEASANTON, CA - JUNE 8, 2011 - Ellie Mae® (NYSE Amex:ELLI), the provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, and PLATINUMdata Solutions, a premier provider of comprehensive appraisal review and collateral valuation technologies, today announced the integration of PLATINUMdata’s REALview collateral valuation review technology with Ellie Mae’s Encompass360® Mortgage Management Solution.
This integration provides direct, seamless connectivity between Encompass360 and REALview, enabling Encompass360 users to access REALview directly from their Encompass360 systems. REALview is an automated, transparent appraisal review tool that processes and analyzes appraisals. In addition to cross-checking and analyzing each appraisal against thousands of USPAP (uniform standards of professional appraisal practice) guidelines and appraisal data factors, REALview verifies the appraiser’s license status while also integrating public record and other local market data to help validate the appraisal information.
Encompass360 users can now not only order REALview reports with just a few mouse clicks, but also receive the completed reports almost instantaneously. The way it works is, the Encompass360 user uploads an appraisal PDF file into the newly created interface. There, the relevant data is extracted from the PDF appraisal report, evaluated and reviewed, all within minutes and in a fully automated fashion. When the analysis is complete, an easy-to-read report is generated and automatically filed in the user’s corresponding Encompass360 eFolder.
"Appraisal quality is a major factor in producing high quality loans," said Jonathan Corr, chief strategy officer for Ellie Mae. “Our clients have come to rely on us to provide the solutions that enable total loan quality—and that includes valuations. We're pleased to add REALview to the comprehensive range of quality-enhancing tools we offer our clients."
"The Interagency Guidelines have presented many new regulations and originators are rightfully concerned about compliance,' said Arturo Garcia, chief operations officer for PLATINUMdata Solutions. “By integrating into Encompass360, we’re extending REALview’s reach and providing even more originators with a cost-effective, automated solution for complying with the new Interagency Guidelines."
About Ellie Mae
Ellie Mae (NYSE Amex:ELLI) is a provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders. The company's offerings include the Encompass® and Encompass360® Mortgage Management Solutions, Encompass 4506-T Service™, Encompass CenterWise™ websites and electronic document management services, Encompass Closer™ document preparation services, Encompass Compliance Service™, Encompass Product and Pricing Service™ and Encompass Assured GFE™. Ellie Mae also hosts the Ellie Mae Network™ that allows mortgage professionals to conduct electronic business transactions with the lenders and settlement service providers they work with to process and fund loans. 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.
About PLATINUMdata Solutions
Founded in 2002, PLATINUMdata Solutions is a leading provider of comprehensive appraisal review and collateral valuation technologies and services that prevent fraud for various segments within the mortgage industry. The company’s flagship product is REALview, an accurate and reliable automated quality control technology for evaluating appraisals. Among the company’s additional solutions are Collateral Expert and Collateral Expert Retro, which provide instant collateral risk reports that identify potential flipping or fraudulent activities, in the present or the past, and OptiVal, a performance-testing platform for evaluating automated valuation models (AVMs). The company also offers 19 unbiased AVMs and several other products and services that verify and validate loan data. PLATINUMdata Solutions is based in Aliso Viejo, California. For more information, visit www.PlatData.com or email info@PlatData.com.
© 2011 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®, Encompass Assured GFE™, Encompass CenterWise™, Encompass Closer™, Encompass Compliance Service™, Encompass Product and Pricing Service™, Ellie Mae Network™ and the Ellie Mae logo are trademarks or registered trademarks of Ellie Mae, Inc. or its subsidiaries. Encompass Assured GFE™ is a trademark of Ellie Mae, Inc. in the United States, and a private-labeled service provided by ClosingCorp. All rights reserved. Other company and product names may be trademarks of their respective owners.
© 2011 PLATINUMdata Solutions, REALview™, Collateral Expert™, Collateral Expert Retro™, OptiVal ™, and the PLATINUMdata logo are registered trademarks, trademarks, or will be trademarked by PLATINUMdata Solutions or its subsidiaries. All rights reserved. Other company and product names may be trademarks of their respective owners. Products, services and programs are subject to change without notice.
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 company's ability to enhance the features and functionality of the Encompass software, the timing of the introduction and acceptance of additional services and the timing of new product launches. Additional risks and uncertainties related to the company's business are discussed in the company's Securities and Exchange Commission filings, including but not limited to the to the final prospectus relating to its initial public offering [and the company's 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.