Fox Valley Savings Bank Selects Ellie Mae’s Encompass Mortgage Management Solution
Community Bank Benefits from Increased Efficiency and Ease-of-Use
PLEASANTON, Calif. – September 16, 2014 – Ellie Mae® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced that Fox Valley Savings Bank, Fond Du Lac, Wis., has selected Encompass® as its mortgage management solution.
Fox Valley Savings Bank is a full service community bank with three branches in Wisconsin and approximately $301 million in assets. The bank has been a leading mortgage provider in the communities it serves for more than 80 years.
“As compliance demands intensify, we needed more efficient ways of ensuring compliance and loan quality across our three branches,” said David Gerritson, vice president of Fox Valley Savings Bank. “We had been using a different loan origination system and another solution for mortgage documentation, but found that managing two disparate systems was cumbersome and error-prone. Ellie Mae’s all-in-one Encompass mortgage management solution provides us with one unified system with built-in compliance and quality checks that gives us the ease of use and improved efficiencies we need. Most importantly, it provides an easy and convenient online mortgage application together with up-to-date mortgage information that is helpful to our customers.”
Fox Valley Savings Bank is using Ellie Mae’s Success-Based Pricing model, which allows the company to pay for software and services based on the number of loans closed every month.
“Ellie Mae’s Encompass is gaining traction with mortgage lenders of all sizes, including community banks such as Fox Valley. Our all-in-one mortgage management solution provides a fully-integrated system that delivers improved efficiency, quality and compliance,” said Jonathan Corr, president and chief operating office of Ellie Mae. “Fox Valley loan officers, underwriters and processors will find they can do more in less time, while staying in compliance with the increasingly strict regulations our industry faces today.”
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 ability to utilize Encompass to increase productivity. Additional risks and uncertainties related to the Ellie Mae’s business are discussed in the Company’s Securities and Exchange Commission filings, including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 and 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.
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s all-in-one Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®, DataTrac®, Ellie Mae Network™, Total Quality Loan™, TQL™ and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
Campbell Lewis Communications