|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.
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Mar. 26, 2017 03:30 AM EDT Reads: 7,247
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of 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. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Mar. 26, 2017 03:30 AM EDT Reads: 3,793
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Mar. 26, 2017 03:15 AM EDT Reads: 945
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 26, 2017 01:45 AM EDT Reads: 3,678
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.
Mar. 26, 2017 12:30 AM EDT Reads: 1,821
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Mar. 26, 2017 12:30 AM EDT Reads: 5,143
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 26, 2017 12:30 AM EDT Reads: 2,869
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 26, 2017 12:15 AM EDT Reads: 703
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 26, 2017 12:00 AM EDT Reads: 1,685
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Mar. 26, 2017 12:00 AM EDT Reads: 4,098
Mar. 25, 2017 11:15 PM EDT Reads: 2,909
Mar. 25, 2017 10:45 PM EDT Reads: 3,610
Mar. 25, 2017 09:45 PM EDT Reads: 3,551
Mar. 25, 2017 08:45 PM EDT Reads: 2,753
Mar. 25, 2017 08:45 PM EDT Reads: 5,960