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Ellie Mae Announces Release of Digital Lending Platform

Ellie Mae, a cloud-based platform provider for the mortgage finance industry, announced that it has launched a new release of Ellie Mae’s Encompass Digital Lending Platform. The latest release will help lenders of all sizes originate more loans across a wider variety of loan types, capitalize on the growing HELOC demand, sell and deliver loans more efficiently, provide a better loan officer experience and leverage the power of data to make better decisions faster.

“Ellie Mae is offering a true digital mortgage solution to help our customers succeed in today’s competitive marketplace,” said Jonathan Corr, President and CEO of Ellie Mae. “With this new release we’re providing lenders with enhanced support to capitalize on the growing HELOC opportunity, an expanding ecosystem of Investor Connect integrations and Loan Officer Connect updates to help lenders close loans faster while offering a best-in-class borrower experience.”

The release of the Encompass Digital Lending Platform 19.2 includes:

  • Temporary buydown and enhanced HELOC support: The new release helps home builders with mortgage operations originate more loans. This release offers the ability to filter change of circumstance reasons, making it easier for the lender to re-disclose to the borrower. Additionally, lenders who originate HELOCs will have enhanced payment options to provide the most accurate DTI evaluation for underwriting and sets expectations with the borrower for the initial estimated payment on their HELOC.
  • Expanded Investor delivery services: Lenders can reduce the amount of time it takes to manually prepare loan packages with the ability to deliver secure data and documents through Encompass Investor Connect with a simple click of a button. Ellie Mae has partnerships with correspondent investors AmeriHome, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez (formerly New Penn Financial), TMS and Wells Fargo, as well as other banks, with more partnerships to be announced in the coming quarters.
  • Encompass Consumer Connect Single Sign-On (SSO): Encompass Consumer Connect now supports Okta, Salesforce and Microsoft Azure for SSO. This provides the ability to easily manage and secure authentication while streamlining borrower login and access between a lender’s corporate site, loan application and borrower portal.
  • Loan officer workflow enhancements: Lenders can close more loans and provide a better borrower experience with the 19.2 enhancements to Encompass Loan Officer Connect. With service management capabilities, administrators can now configure each service and control to begin to automate the ordering of a service, such as credit, once a milestone has been met. This is the first phase towards the vision for a fully automated service ordering experience within Encompass Loan Officer Connect that will be delivered throughout 2019. With new Cash-To-Close and Affordability tools in Loan Officer Connect, loan officers can provide prospective borrowers with multiple loan scenarios that they are eligible to apply for within their financial means. Loan officers will also benefit from the new at-a-glance eligibility view across all of their opportunities, with one-click ability to send eligibility letters to borrowers – all from their mobile device.
  • New loan audit capabilities: In addition to being the mortgage industry’s only solution that helps lenders make smarter decisions faster by providing access to all Encompass loan data fields in near real-time, with no negative impact on their production systems, Encompass Data Connect now helps lenders significantly improve loan quality and reduce buyback risks with the ability to track changes to loan files. The new loan audit capabilities give lenders visibility into all changes for every loan in a single system of record, for comprehensive loan auditing, reporting and risk mitigation.

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.

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