Ellie Mae Adds New Software Features

In a statement released Thursday, mortgage software provider ""Ellie Mae"":http://www.elliemae.com/ announced new technology and service upgrades to make it easier for mortgage lenders to manage their trade, improve eFolder capabilities, and ensure compliance in their operations.

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By incorporating the new upgrades into their ""Encompass360"":http://encompass360.org/ software, users will now be able to apply compound filters that adjust prices for loan trades, according to the statement.

""With the industry's new guidelines and regulations, originators need to change the way they fulfill tasks across the mortgage cycle and they're understandably concerned about staying compliant,"" said Jonathan Corr, chief strategy officer for ""Ellie Mae"":http://www.elliemae.com/.

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""These upgrades are based on feedback from our clients and address a wide range of their concerns and requests. This release includes adjustments designed to help address our clients' concerns about compliance, increase efficiency and enhance the process overall,"" Corr said.

Drawing on feedback from ""Encompass360"":http://encompass360.org/, an e-mortgage solution, ""Ellie"":http://www.elliemae.com/ developed new tools that aim to allow users to track eFolder history, customize an eFolder, and align sales-side lock and trade data.

""Ellie"":http://www.elliemae.com/ includes several features that it says will help users understand compliance policies; adjust closed-end loans for the Mortgage Disclosure Improvement Act; and keep mortgage loans within Real Estate Settlement Procedures Act guidelines ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô something needed in the market, given anticipation that the ""Consumer Financial Protection Bureau"":http://www.consumerfinance.gov/ will crack down on non-compliant lenders and servicers come July.

Among other features: the ability to manage revised GFE due dates, calculate for loan term sections of the GFE and HUD-1, and explain calculations for these areas.

Offering software variety, ""Ellie Mae"":http://www.elliemae.com/ serves mortgage bankers, community banks, credit unions, and other mortgage lenders.