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CORRECTING and REPLACING Ellie Mae Launches New Consumer Direct Solution for Lenders

Sixth paragraph, fourth sentence should read: ...all data is stored in Ellie Mae’s highly secure SSAE-16 and SOC2 certified data centers and no data is stored on any device. (instead of ...in Ellie Mae’s highly secure SSAE-15...).

The corrected release reads:

ELLIE MAE LAUNCHES NEW CONSUMER DIRECT SOLUTION FOR LENDERS

Encompass Consumer Direct Provides Self-Service, 24/7 Online Access for Borrowers

Ellie Mae® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced a new Consumer Direct solution for its Encompass® mortgage management solution.

Encompass Consumer Direct™ is a new self-service and lead-generation solution for lenders looking to enhance service and efficiency while catering to tech-savvy borrowers. Borrowers can access this highly secure web-based solution 24/7 to:

  • Research loan products and rates.
  • Apply for a loan through a guided, user-friendly interactive application.
  • Order and pay for credit reports.
  • Shop for loan programs and compare products and rates side-by-side.
  • Receive disclosures and online status updates about their loan from the lender.
  • Upload and electronically sign documents.

Encompass Consumer Direct takes the daunting task of applying for a mortgage and turns it into a guided step-by-step process that can take less than 15 minutes to complete. It also gives the borrower greater control and insight throughout the loan lifecycle.

Lenders can easily add their specific products using Encompass Product and Pricing Service™ and configure Encompass Consumer Direct to fit their business models. For instance, retail originators can forward completed loan applications to loan officers for follow-up and maintain the personal touch and one-on-one relationship with the consumer. Lenders can also incorporate their own branding to their consumer direct site and configure various modules to help consumers shop for and calculate loan costs, get more information about the lender, ask for assistance and finally apply for a loan.

The entire consumer experience is friendly, professional and interactive. Borrowers can access the site from their PCs and tablets and be guided step-by-step through the loan application process. If at any point they abandon the process, the system captures where they have been on the site, what products they considered and how far they progressed with the application.

Encompass Consumer Direct seamlessly ensures compliance. Encompass Consumer Direct correctly presents product, fee and pricing details, along with the appropriate disclosures. The single system of record eliminates multiple databases and keeps data consistent, compliant and easily accessible in the event of an audit. Encompass Consumer Direct provides a secure online experience: application data is protected by state-of-the-art encryption technology; all data is stored in Ellie Mae’s highly secure SSAE-16 and SOC2 certified data centers and no data is stored on any device.

“We see huge potential with Encompass Consumer Direct, especially in meeting the demands of our next generation of homebuyers – Millennials,” said Jeanie Nivison, chief operating officer of VanDyk Mortgage. “A great example is my own son, who does all of his research for financial products online. This is where VanDyk is headed and Encompass Consumer Direct can help us get there.”

“A growing segment of today’s borrowers are digital natives who are used to using technology to research products and handle complicated tasks, like filing taxes and making online purchase decisions,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “Encompass Consumer Direct will give these borrowers the same self-service, time-shifting experience that they have become accustomed to. At the same time, it will help lenders expand their channel offerings, generate leads and convert and close more loans.”

Encompass Consumer Direct is available now. For more information about Encompass Consumer Direct, go to http://www.elliemae.com/consumer-direct.

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 capabilities, quality and reliability of the Encompass Consumer Direct and the benefits that individual lenders and investors may experience. 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, 2013. 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. Ellie Mae’s all-in-one Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.

© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®, DataTrac®, Ellie Mae Network, Total Quality Loan™, TQL™ and the Ellie Mae logo are registered trademarks or 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.

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