Ellie Mae Launches New Mortgage Management System

Pleasanton, California-based software developer Ellie Mae is launching a new mortgage management software system aimed at simplifying the process of keeping clients’ documentation organized and pushing originators into the electronic lending age. Buzz in the industry began circulating on this front around one month ago, although the exact reincarnation of Ellie Mae’s five-year old Encompass mortgage management system remained unknown. In a press release, Ellie Mae said its new Encompass360 software is faster and easier to use – every action can be completed in no more than three mouse clicks – and seamlessly integrates with the Federal Housing Administration’s (FHA) systems. “I’m stunned — finally, someone actually did it,” says beta tester Brad DeBroux Encompass manager for Fairway Independent Mortgage Company. Jonathan Corr, Ellie Mae’s chief strategy officer, adds: “Specifically, we’ve been hearing from our beta testers that Encompass360’s visibility and accessibility have actually translated into higher closing ratios for their originators, and that literally every division in the company has benefited with higher productivity and accuracy.” “We designed Encompass360 to offer a virtually unlimited capacity to control activities across the entire mortgage chain, so that every division of a company will benefit from using this powerful new system,” he adds. The software allows mortgage originators to store, track and account for the myriad of documents required for clients’ transactions, and can help originators transition to the electronic lending environment while maintaining compliance with necessarily regulatory controls. The software can be customized to meet the needs of users, and provides access to loan information on a macro and micro level. “Our workflow process is attached to documents,” said DeBroux. “Encompass360 addresses that issue head-on with a system that easily enables users to see, track, verify and account for the numerous documents involved throughout the transaction.” Write to Austin Kilgore