Ellie Mae Introduces Encompass Compliance Service

Posted by Orb Staff on April 27, 2010 No Comments
Categories : Residential Mortgage

Pleasanton, Calif.-based Ellie Mae, an online network, software and services provider, has introduced the Encompass Compliance Service. The new service provides automatic compliance checks for each mortgage in an originator's pipeline, throughout the entire mortgage cycle, via the user's Encompass360 system, the company says.

The Encompass Compliance Service is powered by an automatic compliance engine from Mavent, which was acquired by Ellie Mae in December 2009. With the integration of Mavent's technology into Encompass360, users receive automated compliance checks from point-of-sale through investor delivery. The services can be accessed via any Encompass360 system, and can run at preset points in the cycle or be configured to accommodate other loan stages, Ellie Mae says.

"Automated compliance checks are becoming a standard part of the mortgage origination process – a progression that's been underscored by the regulators' use of compliance technologies in their review and audit processes," says Jonathan Corr, chief strategy officer for Ellie Mae. "Ellie Mae supports the regulators in their choice of compliance solutions. In fact, Encompass360 will be able to easily export files in formats that are compatible with the compliance technologies used by the regulators."

The Encompass Compliance Service is Ellie Mae's next move in its strategy to expand the capabilities of Encompass360, Corr adds.

"There are capabilities outside of traditional mortgage origination system functions that are integral to originating high-quality loans," he says. "The more of those capabilities we can automate throughout the mortgage cycle, the easier it will be for our customers to be transacting high-integrity loans."

SOURCE: Ellie Mae

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