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California-based mortgage technology provider Ellie Mae announced Wednesday it has completed its acquisition of AllRegs, one of the industry's leading information companies.
As the exclusive electronic publisher of underwriting and loan product guidelines for the GSEs and a number of the nation's top lenders, AllRegs serves thousands of companies in the mortgage space with his information management solutions, with offerings ranging from education and training to analytics to an online reference library for users.
Jonathan Corr, president and COO of Ellie Mae, said the acquisition cements the company's position as a leading source of mortgage management technology, investor guidelines, compliance resources, and education at a time when lenders need all the help they can get.
"Now more than ever, the mortgage industry is in need of an all-in-one provider that helps lenders achieve compliance while producing quality loans with great efficiency," Corr said. "While compliance has always been a top priority at Ellie Mae, this acquisition of AllRegs solidifies our role as a trusted partner for all of a company's technology and compliance needs."
As part of the acquisition, former AllRegs President Jeff Hoerster has been named Ellie Mae's VP and general manager for AllRegs.
"The combination of AllRegs' mission critical content, tools and services with the market leading compliance and mortgage management technology provider, Ellie Mae, will be a game changer for the industry," Hoerster said.
