Ellie Mae Integrates LenderConnect® with Fannie Mae's Desktop Originator® to StreamLine Brokers' Loan Submissions to Lenders
DUBLIN, CA—March 29, 2006—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, and Fannie Mae (FNM/NYSE), have agreed to integrate their e-commerce technologies to significantly improve the way brokers submit loan data to lenders.
As a result of the technology collaboration, Ellie Mae will expand its LenderConnect e-commerce solution for lenders by incorporating existing Fannie Mae technology to provide support for the transmission of loan data from Desktop Originator (DO®) to lenders. In addition to the e-commerce benefits to lenders, a single solution simplifies the technical requirements for lenders to implement e-commerce with brokers.
Ellie Mae's LenderConnect technology, which is the new brand name for Ellie Mae's ClickLoan and ePASS technologies, is Ellie Mae's industry-leading solution which enables electronic loan data submission to lender websites from the broker's loan origination system. LenderConnect has been adopted by over 40 leading lenders, including eight of the top 10 lenders. As a result of the technology collaboration with Fannie Mae, LenderConnect will become the enhanced solution offered to lenders for receiving online loan submissions from brokers.
Using the enhanced LenderConnect platform, brokers will streamline the way their loans are sent to lenders. Mortgage originators using either their own loan origination system or Desktop Originator on the web through Fannie Mae can submit a complete loan file to the lender, including not just 1003 data, but also credit data and Desktop Underwriter findings.
"This technology integration with Fannie Mae unifies two heavily used mortgage industry e-commerce systems, LenderConnect and Desktop Originator, in a way that reduces the complexity and costs for lenders leveraging e-commerce with originators," asserts Richard Roof, SVP of Strategic Partnerships at Ellie Mae. "We're excited to collaborate with Fannie Mae to introduce an integrated solution to benefit lenders and originators using Desktop Originator."
"The new solution more effectively links originators and lenders both streamlining and enhancing the loan submission process from Desktop Originator and Ellie Mae's loan origination solution," states Terri Davis, Vice President, Fannie Mae. "Combining DU findings, credit and loan origination solution data makes it easier for lenders to accept and act on e-commerce submissions from originators."
About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, which was recently named to the Inc. 500 list of America's fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company's flagship Encompass® mortgage automation system, Contour™ and Genesis 2000® loan origination software, Encompass Websites™ for mortgage brokers, and Ellie Mae Docs™ services for document processing. Ellie Mae's ePASS® Network is the mortgage industry's online transaction platform enabling all mortgage companies in the United States to easily do business online with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (888) 955-9100.
Ellie Mae, Encompass, ePASS, and Genesis 2000 are registered trademarks, and Contour, Executive Websites, and Ellie Mae Docs are trademarks, of Ellie Mae, Inc. All rights reserved.
Ellie Mae, Inc. and its products are not affiliated or associated with Calyx Software or Point. Point is a registered trademark of Calyx Software.
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