Ellie Mae Launches New Mortgage Management System

Posted by Orb Staff on July 09, 2009 No Comments
Categories : Residential Mortgage

re provider Ellie Mae has launched Encompass360, a new management system that stores, tracks and accounts for documentation required in mortgage transactions. The system empowers companies to transition into an e-mortgage environment by providing a more seamless way of transferring and accessing data, documents and conditions, while also helping them to ensure compliance, Ellie Mae says. Encompass360 reaches the market after several months of beta testing. Every action in Encompass360 can be completed in one to three mouse clicks or with drag-and-drop ease, Ellie Mae says. In addition to automatically selecting the right forms when users choose to print, Encompass360 also has safeguards in place that prevent users from printing incomplete forms. The system is configurable so that companies can require that users attach any required documents before a loan can proceed to the next stage. Encompass360 is integrated with Federal Housing Administration systems and transparently connected to FHA Connect, the company adds. Users can instantaneously access any detail for any loan at any stage in the mortgage chain, from point of sale, to electronic data and document management, to tracking conditions prior to or post-closing. "[W]e've been hearing from our beta testers that Encompass360's visibility and accessibility have actually translated into higher closing ratios for their originators, and that literally every division in the company has benefited with higher productivity and accuracy," says Jonathan Corr, chief strategy officer for Ellie Mae. SOURCE: El

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