Sollen Technologies Integrates its Product and Pricing Engine into Ellie Mae’s Encompass Mortgage Management System

Access to fast, accurate product and pricing information further empowers originators in a challenging market

PLEASANTON, CA—July 21, 2009—Ellie Mae, an award-winning software and service provider offering comprehensive business solutions for mortgage bankers, brokers and other mortgage originators, announces that Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, has integrated its Lender Online product and pricing engine into the Encompass® Mortgage Management Solution.

This integration provides Encompass users with direct, seamless access to Lender Online, with all pertinent information automatically and directly transmittable from the user’s Encompass system into the web-based product and pricing engine. With Lender Online’s multi-channel, multi-lender product and pricing information, loan originators can verify a borrower's eligibility for products based on their specific needs, provide real-time fully adjusted pricing, and compare multiple products across different searches — now all directly from their Encompass systems, without having to close one program and launch another, and without having to re-enter any information.

“We have to remember that we’re coming out of a market where borrower confidence within the mortgage segment is marginal at best,” says Michel Van Hee, CEO for Sollen Technologies. “For originators, having access to accurate product and pricing information within a matter of a few seconds is critical to restoring borrower confidence. Each time a borrower needs to wait to find out an answer, and each time an originator has to retract information that was previously presented, can result in a negative impact on whether that prospect ever becomes a client. This integration will help mutual users of the Encompass Mortgage Management Solution and Lender Online to give borrowers the fast, accurate answers that help solidify current and future transactions.”

In today’s environment of rapidly changing regulations and guidelines, lenders are finding that accurately evaluating a borrower requires more than simply giving the right rate at the right time.

“This interface allows Encompass users to easily leverage Lender Online’s up-to-the-minute pricing and accurate product guideline information,” says Van Hee. “This interface also empowers users to more quickly and accurately evaluate transactions according to current guidelines and regulations. Originators can use this information to not only access the right rate, but also demonstrate loan program benefits and compare and contrast a variety of scenarios for borrowers. In a competitive market like the one we’re in, that level of information can be a huge differentiator for originators.”

Lender Online’s automated processes allow lenders to “set it and forget it”. Once the customized website is implemented by Sollen’s award-winning customer service team, users can simply begin realizing the benefits of the system. Lender Online makes sure that the rates and guidelines are constantly updated and available instantaneously.

“Today, it’s more important than ever for mortgage companies to leverage the tools that help them gain a competitive advantage,” says Jonathan Corr, chief strategy officer for Ellie Mae. “At Ellie Mae, it’s a big part of our focus to constantly provide Encompass users with an ever growing choice of high quality, business enhancing solutions. We’re very pleased with Sollen Technologies’ integration to the Encompass Mortgage Management system, and to provide our Encompass users with easy access to Lender Online.”

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 120,000 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 50 service provider by Mortgage Technology for two years in a row, 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 more than $2 trillion in new mortgages originated every year pass through Ellie Mae’s ePASS technology, 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.

About Sollen Technologies

Based in Dallas, Sollen Technologies is an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry. Sollen Technologies’ vision is to provide comprehensive products and services that bring measurable value to the retail, wholesale, and correspondent channels. Sollen is a Mortgage Technology Magazine Top 50 Service Provider for 2008 and 2009, and their innovative technology helps to enhance the relationship between originators and lenders enabling both to effectively compete in today's marketplace. For more information, call 800.582.1074 or visit www.sollen.com.

© 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.


PRESS CONTACT:

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

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