1-800-EAST WEST Mortgage Streamlines Operations and Cuts Labor Costs with Encompass Banker Edition
Company moves forward with growth plans within the New England area
PLEASANTON, CA—December 8, 2008—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, announces that 1-800-EAST WEST Mortgage, an Internet and call center-based mortgage banker with volume of $600-700 million per year, has reduced labor costs and improved both response times and profitability by deploying Ellie Mae’s Encompass Mortgage Management Solution Banker Edition. Marlborough, Massachusetts-based 1-800-EAST WEST Mortgage deployed Encompass as part of its plans to expand to four additional states beyond their current foothold in New England and Florida.
“Encompass Banker Edition helps us run a lean, efficient, and cost-effective operation,” states Dave Bernotas, president of 1-800-EAST WEST Mortgage. “Our prior loan origination system was so complicated and temperamental that it required the use of two full-time IT professionals. With Encompass Banker Edition, we don’t need a dedicated staff. Even though Encompass Banker Edition has many more capabilities than our previous system, it’s also easier to use. Plus, with the dashboard function, we get an up-to-the-minute overview of our entire operations with just a few mouse clicks. It’s never been so easy to access the information that allows us to stay on track with our revenue goals.”
Encompass Banker Edition, which has been implemented by more than 200 companies since its release roughly 18 months ago, is a complete mortgage banking solution specifically designed for banks and lenders of all sizes to manage their entire businesses, from customer acquisition to loan fulfillment.
“Encompass Banker Edition literally manages every step of the loan process—and that allows us an efficiency that saves a lot of time and money,” explains Bernotas. “From client marketing and managing customer relationships, to origination, servicing and secondary marketing, with Encompass Banker Edition we’ve got an all-in-one system, so we don’t have to worry about the cost of adding any additional technology. Plus, the system’s so easy to use that our staff can get more done in less time, so we can focus more on core duties.”
“Especially in today’s market, bankers are looking for ways to ensure compliance, quality and cost efficiency,” says Jonathan Corr, chief strategy officer for Ellie Mae. “That’s one of the reasons for Encompass Banker Edition’s rapid increase in popularity. It’s streamlined yet customizable so virtually any banker—regardless of size or market segment—can trim costs, increase bottom line profitability and stay compliant . 1-800-EAST WEST Mortgage is a great example of how smart planning and the right technology can pay off in dividends, even in difficult markets.”
About Ellie Mae
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.
2008 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.
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