First Federal Lakewood, a mutual bank with nearly $1.6 billion in assets based in Lakewood, Ohio, has selected Ellie Mae's Encompass mortgage management solution as its platform for originating mortgages.
The lender, which has seen its mortgage lending volume increase fivefold over the past five years, currently has 19 branch locations and 12 mortgage lending offices in Ohio.
In a release, Mary Ann Stropkay, senior vice president of residential lending, says the company needed an integrated technology solution that could handle its future growth and keep up with continually changing compliance regulations.
‘Ellie Mae's Encompass was a natural fit for us because it is trusted by many other banks, and there is a certain comfort to having a system that is backed by the collective experience of institutions like ours,’ Stropkay says. ‘It also met our goals of keeping our customers engaged in the mortgage process from start to finish and helping us move to a paperless environment.’
First Federal Lakewood considered solutions from 10 different providers before selecting Encompass, Ellie Mae says in its release.