PLEASANTON, Calif.--(BUSINESS WIRE)--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 new version of Encompass, its all-in-one mortgage management solution. Encompass 16.2 offers new and enhanced integrations with Freddie Mac tools, and enhancements to the Total Quality Loan (TQL) program, including strengthened strategic partnerships and updates to Encompass Product and Pricing Service (EPPS).
“The latest version of our Encompass all-in-one mortgage management solution will offer enhanced TQL capabilities, more customer choice with leading providers like First American Mortgage Solutions and DataVerify and updates to the Encompass Product and Pricing Service,” said Jonathan Corr, president and CEO of Ellie Mae. “And with this new release of Encompass, Ellie Mae is first to market with our integration with the new Freddie Mac Loan Product Advisor and Loan Quality Advisor, key elements of Freddie Mac’s Loan Advisor Suite. This release incorporates their tools directly into Encompass, offering our customers greater certainty and more streamlined workflow.”
Freddie Mac Loan Product Advisor and Loan Quality Advisor
Ellie Mae is the first to market with integrations to select applications in Freddie Mac’s new Loan Advisor SuiteSM. Encompass will offer Loan Product Advisor, the replacement for Freddie Mac’s automated underwriting system, Loan Prospector®, and the cornerstone tool of Freddie Mac’s Loan Advisor SuiteSM. Loan Product Advisor is the next generation in the evolution of automated underwriting with a focus on further streamlining the underwriting process for greater efficiency. In addition, Encompass will offer integration with Freddie Mac’s Loan Quality Advisor, available to Freddie Mac sellers. The integration of Loan Quality Advisor, Freddie Mac’s risk and loan eligibility assessment tool, into Ellie Mae’s Encompass allows its customers to originate loans within Freddie Mac guidelines more easily and with greater certainty, taking immediate advantage of the new features Freddie Mac is bringing to market.
Total Quality Loan Program (TQL) Program Enhancements
Encompass will soon offer enhanced TQL capabilities that give customers access to industry-leading services that streamline the loan review process, reduce costs and improve overall loan performance and profitability. The new version of Encompass adds DataVerify’s DRIVE services, including fraud detection and 4506-T for income verification, and FraudGuard®, First American Mortgage Solutions’ comprehensive decision-support tool designed to quickly and accurately identify risk in mortgage transactions. Through these strategic partnerships, Ellie Mae offers customers greater choice with leading providers while providing consistent processes across the enterprise. Ellie Mae’s TQL enables streamlined ordering of services, such as compliance, income, fraud reviews and flood certifications, throughout the loan lifecycle and from a single screen, enforcing consistent processes across the lender’s organization.
New TPO Settings Report Management
Additional flexibility and unique reporting features have been added with new TPO settings report management. Correspondent buyers now have the ability to extract and report many important TPO settings contained within each TPO record in Encompass with an additional 400 new data points. Encompass TPO WebCenter offers direct, secure connections to third-party originators, no matter what software they use.
Encompass Product and Pricing Service (EPPS) Updates
Aligned with Ellie Mae’s ongoing support for construction lending, EPPS now includes support for the Construction and Construction-Perm loan programs and the ability to create ARM Loan Programs from a more robust list of available ARM indices. EPPS saves time with seamless two-way workflow that sends information from the loan file to the product and pricing engine, and adjust information back to the lender’s lock request form, secondary registration tool and the borrower’s secure loan eFolder. EPPS is used by more Encompass clients than any other product and pricing engine, with more than 500 customers leveraging the solution today.
For more information about Encompass, visit: http://www.elliemae.com/encompass/encompass-overview
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 16.2 version and the benefits of the integration with third party applications such as Freddie Mac Loan Product Advisor and Loan Quality Advisor 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.