Ellie Mae Donates Services to Acorn Housing

Assistance will help tens of thousands of low income individuals avoid foreclosure

PLEASANTON, CA—April 28, 2008—Ellie Mae, the award-winning provider of innovative software and services for the mortgage industry, has donated professional services to Acorn Housing, a national non-profit organization providing free housing counseling to low and moderate income homebuyers. Acorn Housing also provides foreclosure prevention services to assist homeowners who are currently in default on their mortgages to renegotiate their programs with loan servicers.

“Acorn Housing has a very aggressive goal of helping 25,000 low to moderate income individuals avoid foreclosure in the coming year--that’s more than six times the volume we’ve done in the past, and Encompass has really been the lynchpin in our ability to carry through with that initiative,” states Richard Hayes, director of strategic projects for Acorn Housing. “Thanks to Encompass and Ellie Mae’s Professional Services Group, we’re confident that we’ll be able to reach that goal with effectiveness, efficiency and ease.”

Founded in 1987, Acorn Housing has been an Encompass Anywhere user for over a year and will be using Ellie Mae’s donated professional services to create a custom workflow that simplifies and streamlines its negotiation process when acting on behalf of homeowners with defaulted loans. “Ellie Mae’s professional services will help us to customize Encompass Anywhere to automate many of the functions in the foreclosure prevention process,” says Hayes. “That will save us countless hours while ensuring consistency and raising accuracy across the board. In short, we’ll be able to help more people in less time. Plus, with Encompass’ electronic document management services, we’ll be saving 700 to 1000 sheets of paper each day that would normally have been sent over a fax machine, so while we’re helping to save homes, we’re also doing our share to preserve the environment.”

“It’s great to be a part of Acorn Housing’s valiant efforts to assist so many homeowners who are in dire need of foreclosure prevention services,” states Sig Anderman, chief executive officer for Ellie Mae. “We are happy to do our part in helping homeowners who might otherwise be forced to lose their homes.”

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.

Press Contact:

Rosalie Berg
Strategic Vantage for Ellie Mae
(305) 971-5352

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