Ellie Mae Awarded U.S. Patent for Loan Origination Software System
Encompass Patent Highlights Ellie Mae Technical Leadership and Establishment of Industry Standard
PLEASANTON, Calif. – July 28, 2015 – Ellie Mae® (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today that the United States Patent and Trademark Office has issued the Company a patent for the Encompass mortgage origination and processing technology.
The invention – U.S. Patent number 8,990,254 B2, titled “Loan Origination Software System for Processing Mortgage Loans Over A Distributed Network” – covers portions of the Encompass automation and loan origination system. The loan origination system offers a comprehensive electronic form-based process that automatically generates and populates documents required during the course of a mortgage loan application process. Specifically, the patent covers:
- Persona-based user interface for loan officers, loan processors and underwriters
- Integrated contact management, marketing and pre-qualification tools
- Automated workflow and milestones
- Individual and management-level loan pipeline views
“Our Encompass technology offers a complete end-to-end solution to automate the mortgage origination process,” said Jonathan Corr, Ellie Mae President and CEO. “This patented invention not only showcases Ellie Mae’s technical leadership and expertise, it establishes an industry standard for the mortgage industry to follow. The Encompass technology serves as the foundation for our next generation solution, designed to bring more value to our customers by moving completely to the cloud to offer greater scalability, improved performance, productivity enhancements and the ability to use any device, anywhere.”
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s all-in-one Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
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