Ellie Mae Hires Parvesh Sahi, New VP Of Compliance Solutions
Compliance veteran joins company’s in-house compliance team
PLEASANTON, CA - JUNE 2, 2011 - Ellie Mae®(NYSE Amex:ELLI), the provider of software and automation solutions for mortgage bankers, community banks, credit unions and other mortgage lenders, announced today that it has hired Parvesh Sahi as its new vice president of compliance solutions.
Sahi has over a decade of mortgage compliance experience. In his new role, he will oversee business development of the company's compliance offerings, which include Encompass Compliance Service™, an integrated automated compliance solution powered by Mavent, which provides automatic compliance checks throughout the entire mortgage origination cycle. He will also oversee business development and client relationship management for Mavent, Inc., an automated compliance solution provider and subsidiary of Ellie Mae. In addition to developing and implementing initiatives to help position, market and sell Ellie Mae’s compliance solutions, Sahi will also manage the company’s relationships with its direct Mavent clients and channel partners, evaluate both clients’ and prospects’ compliance needs and help develop solutions that address those unique needs.
Sahi's responsibilities include serving as an in-house compliance business development leader as well as training, advising and supporting internal business units that include sales, sales engineering, implementation and product management.
Prior to joining Ellie Mae, Sahi worked as vice president of sales and business development for QuestSoft Corporation, a provider of automated lending compliance review software and reseller of Mavent compliance services, where he oversaw sales and marketing across all company product lines. Prior to that position, as product director, he handled product development, sales, marketing and strategy for the ComplianceEAGLE product line distributed by QuestSoft. He also managed the integration of ComplianceEAGLE software into other technologies that included loan origination software, document preparation solutions and proprietary platforms. Sahi has also served as sales director for ComplianceEase, a LogicEase company.
"Compliance is a top concern for our clients and a top priority for us," said Jonathan Corr, chief strategy officer for Ellie Mae. "There are—and will be—a lot of compliance-related changes that stem from the Dodd-Frank Act. We believe that Parvesh's compliance background and insight strengthens our ability to help our clients stay compliant with all regulations, new and old. We’re pleased to welcome him to the Ellie Mae team."
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, 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.
© 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.
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.
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