Ellie Mae, a provider of automated solutions for the residential mortgage industry, has announced that Woodbury, Minn.-based Postal Credit Union has selected Encompass as its mortgage management solution.
Postal Credit Union is a full-service financial cooperative with five branches in Minnesota.
According to Ellie Mae, Postal Credit Union is using Encompass and its integrated Encompass Compliance Service, document management system, product and pricing service, and WebCenter.
Ellie Mae adds that the company is also taking advantage of Ellie Mae's Success-Based Pricing model, which allows Postal Credit Union to pay for the software and services based on the number of loans it closes every month.
‘When we began looking for a new system, our goal was to increase efficiency by working within a single system rather than going back and forth from one system to another,’ says Faith Tholkes, director of mortgage sales at Postal Credit Union. ‘Ellie Mae provides an end-to-end solution. We expect to increase our productivity by up to 40 percent thanks to greater efficiency and paperless processing.’