|By Business Wire||
|September 3, 2014 04:30 PM EDT||
Ellie Mae® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced a major new release of its Encompass® mortgage management solution. The new release includes more than 300 enhancements designed to promote compliance, loan quality and efficiency.
The major enhancements to Encompass include:
Compliance Support for New Regulations:
Encompass now supports tests and eligibility determinations for the recently changed Veterans Administration Qualified Mortgage (VA QM) rule. In addition, the borrower’s electronic loan folder will tie borrower data and documents to their QM eligibility.
The Ellie Mae Total Quality Loan (TQL) program now offers expanded support for ATR/QM with auto-population of verifications in a tracking tool and output delivery of ATR/QM compliance proof to investors for audit purposes.
Encompass is now equipped to meet Uniform Loan Delivery Dataset (ULDD) Phase 2 requirements for the GSEs, which took effect on loans delivered on or after August 25, 2014.
Document Management Capabilities:
Encompass has been enhanced to improve efficiency and reduce processing time by automatically recognizing, identifying and classifying borrower documents. Encompass can be trained to automatically recognize key documents and their content, such as paystubs and bank statements, and organize them within the borrower’s electronic loan file.
The ability to view, edit and track multiple documents from one location has also been added to Encompass, allowing users to easily perform processing and underwriting tasks within the electronic loan folder.
All key internal Encompass users for each loan can now be automatically notified when disclosures and document requests are sent to the borrower. This helps improve internal communication and collaboration while saving unnecessary follow-up time.
Enhanced Channel Management:
Encompass now allows lenders to consistently manage all channels: retail, wholesale and correspondent. The management of third-party origination (TPO) companies and their branches, such as brokers and correspondents, are now centralized in the same location in Encompass as their retail business.
Detailed contact information, licensing data, loan originator compensation assignments and loan criteria are now collected for all TPOs, helping improve management and tracking. Encompass’ new management capabilities allow for the assignment or re-assignment of TPOs and contacts to internal employees. The new management capabilities also increase visibility into the assigned-loan pipeline and corresponding dashboards and reports. Encompass administrators can now easily view and control user access across all channels.
New Product and Pricing and Secondary Marketing Capabilities:
Through Encompass Product and Pricing Service™, Encompass now has a new “no-cost” closing option, allowing lenders to price loans that replace traditional closing costs with a single fee that’s based on the loan amount. Additional enhancements to Encompass Product and Pricing Service include detailed ineligibility information to provide added visibility and the ability to offer more appropriate loan products. Configuration options for determining the Starting Adjustment Rate for QM loans has also been added.
Support for creating mortgage-backed securities (MBS) pools for greater ULDD export efficiencies has been added to Encompass, as well as the ability to assign loans to trades and MBS pools from an external file import.
“Ellie Mae’s new Encompass mortgage management solution release is designed to help clients expand and manage new channels more effectively, keep pace with evolving compliance regulations and take time and cost out of origination, sales and delivery processes,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “These enhancements, combined with our recently released Encompass Consumer Direct™ self-service, lead-generation solution, make Encompass a great solution for lenders looking for compliance, quality and efficiency.”
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 company’s ability to enhance the features and functionality of the Encompass software expected to be included in the Fall Release, the timing and availability of the 14.2 Release and the quality and reliability of the 14.2 Release. 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 and most recent Quarterly Report on Form 10-Q. 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.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 25, 2017 10:30 AM EDT Reads: 613
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 25, 2017 10:30 AM EDT Reads: 301
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 25, 2017 10:15 AM EDT Reads: 2,075
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 25, 2017 10:00 AM EDT Reads: 926
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 25, 2017 09:45 AM EDT Reads: 1,193
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
Apr. 25, 2017 09:39 AM EDT Reads: 135
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Apr. 25, 2017 09:15 AM EDT Reads: 1,707
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 25, 2017 09:15 AM EDT Reads: 262
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Apr. 25, 2017 09:00 AM EDT Reads: 1,004
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 25, 2017 08:45 AM EDT Reads: 808
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Apr. 25, 2017 08:30 AM EDT Reads: 2,942
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Apr. 25, 2017 08:30 AM EDT Reads: 3,850
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 25, 2017 08:30 AM EDT Reads: 2,169
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 25, 2017 08:00 AM EDT Reads: 818
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 25, 2017 07:15 AM EDT Reads: 377