Ellie Mae Partners With Advectis to Provide Effortless Electronic Document Collaboration Between Lenders and Brokers
Lenders can now receive documents straight from the mortgage originator's loan origination system
Dublin, CA—March 26, 2007—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has partnered with Advectis®, Inc., the provider of BlitzDocs® Collaboration Suite the most widely used solution for electronic mortgage document collaboration. The partnership enables seamless connectivity between Ellie Mae's Encompass® Mortgage Automation System and BlitzDocs, and empowers mortgage originators to easily transmit their electronic loan documents via EllieMae's LenderConnect solution to lenders using BlitzDocs.
Used by forty of the nation's top 100 lenders, including eight of the top 10, LenderConnect is Ellie Mae's electronic delivery solution that enables loan originators and lenders to exchange loan file data, underwriting conditions and loan status information with the simple click of a button. The web-based BlitzDocs collaborative document network allows mortgage participants to capture, submit, underwrite, audit, share, deliver and archive loan documents. As a result of this partnership, lenders using BlitzDocs can sign up with Ellie Mae to effortlessly receive loan documents straight from a broker's Encompass system to the BlitzDocs network.
Originators simply gather and store their loan documents in the Encompass eFolder and the integration to BlitzDocs allows for quick and easy uploading of eFolder contents directly to the lender's BlitzDocs site. eFolder documents can include items such as settlement service reports, borrower documents like W2s and bank statements, and signed disclosure forms.
"Ellie Mae has always been focused on ease of use," states Jonathan Corr, chief strategy officer of Ellie Mae. "With our eFolder, we've enabled originators to effortlessly gather electronic versions of critical loan documents, and now our partnership with Advectis helps our customers simplify and expedite receipt of those documents by the lender. Lenders using our LenderConnect solution can now use the BlitzDocs system to receive electronic loan documents directly from the originator's Encompass system, all with very little effort on their part. We're expanding our solutions to bring even more benefit to brokers and lenders alike."
"Using our open SOA-based web-services interface, EllieMae and Advectis were able to quickly and easily integrate our respective solutions" said Greg Smith, CEO and president of Advectis, Inc. "Lenders can begin using the joint solution as soon as they're connected."
Electronic collaboration between lenders and brokers saves time and money for both parties. "By connecting the originator's eFolder system to the lender's BlitzDocs site, lenders can cut costs that would otherwise be spent on the gathering, sorting and inputting of data, while also reducing the likelihood of data entry mistakes and minimizing the potential for lost documents," adds Smith.
About Ellie Mae, Inc.
Ellie Mae, an award-winning provider of software and services for the mortgage industry, offers a comprehensive line of loan origination solutions including the company's flagship Encompass® Mortgage Automation System, as well as Contour™ The Loan Handler® and Genesis 2000®. Ellie Mae's loan origination solutions are used by over 50 percent of the nation's estimated 50,000 mortgage originators. Encompass is deployed by over half of the nation's top 250 brokerages, including seven of the top ten. Integrated in these loan origination systems is Ellie Mae's ePASS Network, the industry's most-used online transaction platform, processing over one third of the nation's $3 trillion in loans. Winner of the 2007 Mortgage Technology Synergy Award for enabling seamless end-to-end e-commerce, the ePASS Network enables mortgage companies to easily do business online with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is based in Dublin, California, and can be found online at www.elliemae.com or by phone at (888) 955-9100.
About Advectis, Inc.
Advectis, Inc. provides the mortgage industry's most widely-used solution for electronic document collaboration. The Web-based BlitzDocs Collaboration Suite provides access to the BlitzDocs collaborative electronic document network where participants capture, submit, underwrite, audit, share, deliver and archive loan documents. BlitzDocs customers benefit from a network with more than 25,000 broker shops, the top seven mortgage insurance companies and three of the top due diligence providers. Collectively, BlitzDocs investor participants represent more than 60 percent of loans purchased in the secondary market. For more information call (877) 200-8700 or visit www.advectis.com.
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.
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