Record-Breaking 150 Companies Deploy Ellie Mae's Encompass Banker Edition since 2007
More mortgage bankers flock to Encompass Banker Edition for greater efficiency, flexibility, transparency and cost savings in a market where every penny counts
PLEASANTON, CA—June 4, 2008—Ellie Mae, the award-winning provider of innovative software and services for the mortgage industry, announced that its Encompass Mortgage Management Solution Banker Edition has been implemented by a record-breaking 150 bankers nationwide since 2007.
“When 150 mortgage companies deploy any enterprise software solution in a short period of time, it is considered phenomenal growth by anyone’s standards,” states Jonathan Corr, chief strategy officer of Ellie Mae. “I’ve never seen any company in our market come close to this level of success with any new product launch. That’s largely because solutions for the mid-market banking tier have been very fragmented. There was a clear need to set a new standard and elevate the quality of operations. We created Encompass Banker Edition to seize that leadership role. Encompass Banker Edition offers the efficiency, flexibility and transparency that mid-market bankers have been seeking, especially during the past 18 months.”
Encompass Banker Edition has gained market share as banks, credit unions and mortgage lenders seek ways to run their businesses more efficiently and cost effectively, while gaining the flexibility to adapt to sudden market changes. Encompass Banker Edition has also filled the needs of the growing number of brokers becoming bankers in order to gain the control and monetary benefits of funding their own loans. Currently, Encompass Banker Edition reports an estimated 13,200 users.
“We’ve been very pleased that Encompass Banker Edition has given our loan officers the tools they needed to succeed out in the field,” states Bryan Wandel, vice president of information technology at Oklahoma-based First United Bank, an Encompass Banker Edition user. “From an IT and business standpoint, we appreciate how easy the system is to update, as well as its ability to integrate with third-party technologies. Those are big benefits. We can now transfer large volumes of data and have a state-of-the-art platform that will facilitate our need to grow.”
“Today’s bankers are finding that outdated solutions actually cost them money,” Corr adds. “That’s why Encompass Banker Edition has grown so well, even in the midst of a slowing market. It gives today’s bankers even more control over core banking functions, as well as easy access to the type of information that bankers need to make better decisions and reach higher profits.”
John Calk, chief operating officer for Chicago Bancorp, a mortgage banker based in Chicago, appreciates the system’s easy customizability and the increased data integrity his company achieves through Encompass Banker Edition. “The customization capabilities of Encompass Banker Edition are a big benefit for us. Even among the largest banks, we all do business differently. The ability to insert our own pages inside the Encompass platform is such a benefit, as is the fact that someone with normal office skills can easily build custom pages. With Encompass, we don’t need to spend money on outside programmers,” he says. “We’ve also been able to consolidate all of our data, which was very important. With Encompass Banker Edition, our data integrity is very solid for the first time. I’m really happy and glad I made the decision to transition to Encompass Banker. I don’t say that about a lot of things I buy.”
Encompass Banker Edition is a complete technology solution designed for mortgage bankers, community banks, credit unions and large retail lenders looking for a cost-effective and easily-deployed solution to manage their entire business, from customer acquisition to loan fulfillment. It is fully customizable, so users can easily adjust the system to align with their company’s own unique business goals and objectives, from origination and processing all the way through underwriting, closing, funding and shipping, and secondary marketing. Plus, the system is so easy to use that it eliminates the need for an outside team of programmers.
Encompass Banker Edition’s capabilities also reach beyond basic mortgage solutions. Users benefit from functions such as business intelligence, customer relationship management, data flow and document management, while still getting the flexibility of an open platform that enables best-of-breed integration. “Encompass Banker Edition enables its users to run their businesses more efficiently, whether that means capturing business from existing customers and partners, or sharing information with greater security and compliance,” states Corr. “With Encompass Banker Edition, mid-market banks, credit unions and lenders get the best of both worlds. They get an open platform solution that allows best-of-breed integration, and they also get a complete, unified solution.”
Joan Stephenson, assistant vice president of Wichita-based mortgage banker Equity Bank adds, “We use Encompass Banker Edition for our secondary marketing and it has much better reporting capabilities than other programs I’ve used. With Encompass, we can easily pull reports to track locks that are about to expire, to make sure loans are purchased and closed in time, and to see how we’re doing across the board.”
About Ellie Mae
Ellie Mae is an award-winning provider of software and services for the mortgage industry, offering comprehensive business solutions for mortgage brokers, mortgage bankers and lenders. The company's key offerings include the flagship Encompass Mortgage Management Solution, the Encompass WebCenter, Electronic Document Management (EDM), 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 is recognized for linking 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 conduct electronic business transactions with dozens of leading lenders and thousands of settlement service providers. 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.
2008 Ellie Mae, Inc. All rights reserved. Ellie Mae, Encompass, and ePASS are registered trademarks and Encompass CenterWise, and Ellie Mae Closer are trademarks of Ellie Mae, Inc. in the United States.
Strategic Vantage for Ellie Mae