Skyline Financial Implements Ellie Mae's Encompass360™

Direct lender provides warehouse lines and technology to enable its independent mortgage companies and originators to thrive in competitive, highly regulated market

PLEASANTON, CA—October 26, 2009—Skyline Financial, an independent retail direct mortgage lender founded in 1985, has selected Ellie Mae's Encompass360™ Mortgage Management Solution as its technology for managing the mortgage process and expanding its origination business.

Skyline Financial is acquiring several mortgage companies and empowering them to become direct lenders by providing those companies with the powerful technology, automated workflow and underwriting needed to compete in today's competitive and highly regulated capital markets.  Skyline Financial can sell its loans directly to the government agencies, which saves the costs and needless underwriting overlays often incurred by correspondent lenders.  The company is under the leadership of Chairman and CEO Bill Dallas, an industry icon and co-founder of First Federal, Heritage Bank of Commerce and California Oaks State Bank. Dallas was also a partner with companies that include Interthinx, MindBox, Ownit and Factual Data.

“We’re in a competitive market marked by heightened regulations and investor scrutiny, and it’s more important than ever to originate high quality loans in the most efficient manner possible,” says Dallas, who is Skyline Financial’s chairman and CEO. “With upcoming changes to RESPA, the SAFE Act and HVCC, originators can find that they’re spending an inordinate amount of time making sure they’re compliant. Encompass360 provides an automated way to safeguard against violations throughout the mortgage process. We couldn’t be happier to offer our affiliates access to this kind of technology.”

Encompass360 was launched in July 2009 and is the industry’s most comprehensive solution for managing the mortgage process. The system provides unparalleled visibility, access and control of the entire mortgage lifecycle, from origination through post closing.

And when leveraging Encompass360’s software-as-a-service (SaaS) offering, Skyline Financial originators can access their systems from any Internet-connected computer, so there’s no need for brick and mortar structures in order to conduct business.

“Bankers and brokers alike are realizing that the government is taking a harder stance on regulatory compliance,” says Jonathan Corr, chief strategy officer for Ellie Mae. “The selection of Encompass360 by Skyline Financial is a reflection of the company’s commitment to better business and safer, more compliant loans."

About Ellie Mae, Inc. 

Ellie Mae is the 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 newly launched flagship Encompass360™ Mortgage Management Solution, Encompass CenterWise™ websites and electronic document management services, and Encompass Closer document preparation services. More than 100,000 mortgage professionals use the Encompass®Mortgage Management Solution. A recipient of the prestigious Inman Award as the most innovative company in the mortgage industry and acknowledged as a top technology service provider by Mortgage Technology magazine, Ellie Mae is recognized for developing technology that links the many parties critical to the mortgage origination industry through its patented ePASS®technology. One quarter of the nation's estimated $2 trillion in new mortgage originations utilize Ellie Mae’s ePASS technology, which enables mortgage companies to easily and securely conduct electronic business transactions with dozens of leading lenders and thousands of settlement service providers.  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 Nos. 7,444,302 and 7,472,089) are registered trademarks and Encompass360, Encompass CenterWise and Encompass Closer are trademarks of Ellie Mae, Inc. in the United States.


PRESS CONTACT:

Rosalie Berg
Strategic Vantage Marketing & Public Relations
(305) 971-5352
PR@StrategicVantage.com

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