Ellie Mae Launches Major Release of Encompass All-in-One Mortgage Management Solution

Encompass 16.3 includes new features for Encompass, Fannie Mae and Freddie Mac enhancements, new Total Quality Loan program service options and enhancements to Encompass Product & Pricing Service

PLEASANTON, Calif.--()--Ellie Mae® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today that it has launched a major release of Encompass, its all-in-one mortgage management solution. Encompass 16.3 includes new features for Encompass, enhancements to Fannie Mae and Freddie Mac solutions, new Total Quality Loan® (TQL®) service ordering options, additions to Secondary Marketing and significant enhancements to Encompass Product & Pricing Service™.

“The latest major release of our Encompass all-in-one mortgage management solution offers enhancements to our integrations with Fannie Mae and Freddie Mac and more customer choice when ordering TQL services with leading providers like First American Mortgage Solutions and DataVerify,” said Jonathan Corr, president and CEO of Ellie Mae. “And later this fall we’ll be offering major enhancements to the Encompass Product & Pricing Service expanding our lenders ability to manage their own custom programs and well as a new dashboard to provide visibility into the status of pricing files as well as securely manage investor credentials.”

Encompass New Features

Encompass 16.3 features several core updates, including:

  • Settings Report: This new reporting feature enables the quick generation of reports that contain an organization’s user access settings, providing visibility for business managers as well as responses to possible auditor questions related to access rights.
  • Business Rule Export and Import: This new feature enables the export and import of a variety of configurable business rule types to Extensible Markup Language (XML) files. These business rules are those that are changed most often and the export view assists lenders deploying Encompass software updates between test and production environments.
  • Enhanced Support for Uniform Closing Dataset (UCD) Export: Well in advance of the new UCD delivery requirements going into effect September 25, 2017, lenders are able to test this updated export in support of the more detailed data collection expected by Government Sponsored Entities (GSEs), including detailed classification of adjustments and other credits.

Secondary Marketing Enhancements: New tracking features have been added, designed to support multiple types of Loan Collateral and includes calendar driven follow-ups for collateral requests and a history of collateral requests, receipts and shipments with associated comments. Encompass has also expanded its lock desk hours feature to include separate hours by loan channel (Retail, Wholesale, Correspondent) and the ability to have different lock desk hours on Saturdays and Sundays. Secondary Marketing functionality also now supports Fannie Mae’s Pricing and Execution (PE) MBS pricing platform. And finally, updates were made to the 1098 Mortgage Interest for creating a 1098 that will comply with the tax rules for 2016 and beyond.

Fannie Mae Enhancements: Enhancements to Encompass’ unique automated workflow for Fannie Mae’s Desktop Underwriter® and EarlyCheck™ drive more efficiencies and help identify and correct any potential eligibility or data discrepancies prior to loan delivery.

Freddie Mac Enhancements: Encompass now offers pop up screen capabilities that show data elements changed between orders within Automated Underwriting System (AUS) tracking to help easily identify any data discrepancies when using Loan Product AdvisorSM, the cornerstone tool in the Freddie Mac Loan Advisor SuiteSM.

New Total Quality Loan (TQL) Service Ordering Options

Also with the Encompass 16.3 Release, Ellie Mae is expanding the Total Quality Loan program (TQL) in Encompass to deliver additional service choices through a new partnership with DataVerify. Those already using DataVerify DRIVE® for fraud and income verification (4506-T) will be able to order those services through the TQL screen in Encompass.

FraudGuard®, a comprehensive decision-support tool designed to quickly and accurately identify risk in mortgage transactions, has also been added to TQL through a new partnership with First American Mortgage Solutions, allowing users the ability to clear alerts and re-score files within the platform.

Encompass Product & Pricing Service Enhancements

Coming later in the quarter, Encompass Product & Pricing Service will offer new Rule Manager functionality which will expand the existing customer-managed holdback functionality and provides the ability to customize investor loan programs with overlays. This feature will allow client administrators the ability to set profit margins and loan-level adjustments, display qualifications notes and disqualify loans conditionally based on a number of commonly tested loan characteristics.

Encompass Product & Pricing Service will also introduce a new dashboard. The dashboard will allow lenders to upload rates for processing and allow them to view the status of their pricing files, even if they do not use the upload capability. Finally, the dashboard will allow clients to securely manage their Investor Credentials.

For more information about Encompass, visit: http://www.elliemae.com/encompass/encompass-overview

Forward-Looking Statements:

This press release contains forward-looking statements under the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include the enhanced functionality of the Encompass 16.3 version and the benefits of the integration with third party applications such as Freddie Mac Loan Product Advisor and Loan Quality Advisor, Fannie Mae’s Desktop Underwriter® and EarlyCheck® or services offered by DataVerify and First American Mortgage Solutions. Additional risks and uncertainties related to the Company’s business are discussed in the Company’s Securities and Exchange Commission filings, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2015, as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission. Unless otherwise required by applicable laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Ellie Mae

Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Mortgage lenders of all sizes use Ellie Mae’s Encompass® all-in-one mortgage management solution, Mavent Compliance Service, and AllRegs research, reference and education resources to improve compliance, loan quality and efficiency across the entire mortgage lifecycle. Visit EllieMae.com or call (877) 355-4362 to learn more.

© 2016 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, DataTrac®, Ellie Mae Network™, Mavent®, Mortgage Returns®, Prospect Manager®, Total Quality Loan®, True CRM®, TQL® and the Ellie Mae logo are trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.

Contacts

Ellie Mae, Inc.
Erica Harvill, 925-227-5913
Erica.harvill@elliemae.com
or
Allison+Partners
Alexandra Gardell Kreuter, 646-428-0618
EllieMae@allisonpr.com

Contacts

Ellie Mae, Inc.
Erica Harvill, 925-227-5913
Erica.harvill@elliemae.com
or
Allison+Partners
Alexandra Gardell Kreuter, 646-428-0618
EllieMae@allisonpr.com