Ellie Mae Announces Encompass Compliance Service
Seamless compliance checks add to ancillary capabilities that help promote total loan quality through company’s mortgage management technology
PLEASANTON, CA—April 26, 2010—Ellie Mae®, an online network, software and services provider offering comprehensive business solutions for residential mortgage originators, lenders, brokers and other professionals, announces the Encompass Compliance Service. This new comprehensive compliance service provides automatic compliance checks for each and every mortgage in an originator’s pipeline, throughout the entire mortgage cycle, via the user’s Encompass360™ system. By creating the Encompass Compliance Service, Ellie Mae is moving forward with its initiative to provide users of Encompass360 with an integrated set of capabilities aimed at helping promote total loan quality.
The Encompass Compliance Service is powered by an automatic compliance engine from Mavent, which was acquired by Ellie Mae in December 2009. With the integration of Mavent’s technology into Encompass360, users get the convenience and security of seamless, automated compliance checks from point of sale through investor delivery. The services can be accessed via any Encompass360 system, and can run at preset points in the cycle or configured to accommodate other loan stages, according to each company’s needs.
“Automated compliance checks are becoming a standard part of the mortgage origination process—a progression that’s been underscored by the regulators’ use of compliance technologies in their review and audit processes,” says Jonathan Corr, chief strategy officer for Ellie Mae. “Ellie Mae supports the regulators in their choice of compliance solutions. In fact, Encompass360 will be able to easily export files in formats that are compatible with the compliance technologies used by the regulators. I’m sure our users will find that Ellie Mae’s originator-specific compliance solutions are just as easy, if not easier, for originators to use as those used by the regulators.”
The Encompass Compliance Service is Ellie Mae’s next move in its strategy to expand the capabilities of Encompass360. “Ellie Mae is focused on total loan quality, and that’s something that does not occur in a vacuum,” says Corr. “There are capabilities outside of traditional mortgage origination system functions that are integral to originating high quality loans. The more of those capabilities we can automate throughout the mortgage cycle, the easier it will be for our customers to be transacting high integrity loans.”
About Ellie Mae
Ellie Mae provides enterprise mortgage origination technology solutions for mortgage bankers, mortgage brokers, community banks, credit unions and other mortgage lenders. The company's offerings include the Encompass® and Encompass360™ Mortgage Management Solutions, Encompass CenterWise™ websites and electronic document management services, and Encompass Closer™ document preparation services. 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.
© 2010 Ellie Mae, Inc. All rights reserved. Ellie Mae and Encompass are registered trademarks and Encompass360, Encompass CenterWise, Encompass Closer and Ellie Mae Network are trademarks of Ellie Mae, Inc. in the United States.
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