NYLX and Ellie Mae Announce Enhanced Integration Between Ellie Mae's Encompass LOS and NYLX's Product Eligibility and Pricing Solution
Increased efficiency, accuracy and seamless integration help users save money in a market focused on cutting costs
MT. ARLINGTON, NJ—January 9, 2009—NYLX, the mortgage industry’s leading provider of point-of-sale product eligibility and pricing technology systems, announces enhanced product integration between NYLX’s LoanDecisions product eligibility and loan pricing engine (PPE) and the Encompass Mortgage Management System, Ellie Mae’s award winning loan origination and mortgage management technology. This enhanced integration is enabled by an Encompass upgrade that empowers users to seamlessly access NYLX-provided product and pricing, directly from the Encompass lock request forms.
"Especially at a time when accuracy and efficiency are playing such a key role in the profitability of a business, we’re pleased to be providing Encompass users with the most efficient and complete transfer of loan information from a product eligibility and pricing system into the Encompass system,” says Steve Koenigsberg, executive vice president of product development at NYLX. “Enhancing usability for mutual clients of NYLX and our technology partners is part of NYLX’s continuing commitment to providing solutions that are of the utmost benefit to our clients, our technology partners and the industry.”
As a result of the integration, Encompass now automatically populates the lock request form with updated pricing once users have completed pricing within the NYLX system. This allows for seamless lock submissions to the client’s secondary department via Encompass. Previously, NYLX clients needed to go outside of the Encompass system and manually submit locks to their secondary departments. This enhancement not only saves time, but also increases accuracy for NYLX clients using the Encompass solution.
“This kind of efficiency translates directly into cost savings—something that’s a huge priority for virtually every organization in the business these days,” says Richard Roof, senior vice president for Ellie Mae. “By upgrading Encompass’ integration with NYLX’s product eligibility and pricing engine, we’re giving mutual clients of Ellie Mae and NYLX the ability to avoid re-keying data, while also providing them with the capacity for seamless lock submissions. This efficient, seamless interface brings the cost-cutting benefit of increased accuracy and more controlled costs from origination to lock submission.”
NYLX operates the mortgage industry’s pre-eminent national electronic platform for accurate and up-to-date investor program data, rates, and guideline information. NYLX’s industry leading product eligibility and best execution loan pricing solutions, coupled with timely market data, allow mortgage professionals the unique ability to adapt to market conditions in real-time, make smarter decisions, and achieve better executions on all transactions. Since 2004, NYLX has served as the premier conduit of information for mortgage brokers, bankers and investors with free, as well as fee-based service solutions that enhance product delivery, ensure accuracy and streamline processes and business channels. Additional information may be found at www.nylx.com.
About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, offering comprehensive business solutions for mortgage bankers, mortgage brokers and lenders. The company's key offerings include the flagship Encompass® Mortgage Management Solution, Encompass CenterWise™ and Encompass Closer. More than 150,000 mortgage professionals use the Encompass Mortgage Management Solution, including two-thirds of the nation’s top 300 brokers and nine of the top 10. Ellie Mae, recipient of the prestigious Inman Award as the most innovative company in the mortgage industry, is recognized for developing technology that links the many parties critical to the mortgage origination industry through its ePASS® Network. One third of the nation's almost $2 trillion in new mortgages originated every year pass through the ePASS platform, enabling mortgage companies to easily and securely conduct electronic business transactions with dozens of leading lenders and more than 2,000 settlement service providers. Ellie Mae is also the parent of Online Documents, the industry’s leading provider of flexible, compliant electronic mortgage documents and related services for the mortgage industry. Ellie Mae was founded in 1998 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.
© 2009 Ellie Mae, Inc. All rights reserved. Ellie Mae, Encompass, and ePASS (patent No. 7,444,302)are registered trademarks and Encompass CenterWise, and Encompass Closer are trademarks of Ellie Mae, Inc. in the United States.
Mary Anne Ahmer
Strategic Vantage Marketing & Public Relations