Fox Valley Savings Bank Now Using Ellie Mae’s Encompass

Posted by Patrick Barnard on September 18, 2014 No Comments
Categories : FYI

Fond Du Lac, Wis.-based Fox Valley Savings Bank, a full-service community bank with three branches in Wisconsin and approximately $301 million in assets, is now using Ellie Mae's Encompass mortgage management solution.

In a release, David Gerritson, vice president of Fox Valley Savings Bank, explains that the bank was previously using a separate loan origination system (LOS) and mortgage documentation solution, but with Ellie Mae's Encompass, those two systems are now bundled together. Compliance with new and upcoming regulations is another reason the bank went with Ellie Mae.

‘As compliance demands intensify, we needed more efficient ways of ensuring compliance and loan quality across our three branches,’ says Gerritson. ‘We had been using a different LOS and another solution for mortgage documentation, but found that managing two disparate systems was cumbersome and error-prone. Ellie Mae's all-in-one Encompass mortgage management solution provides us with one unified system with built-in compliance and quality checks that gives us the ease of use and improved efficiencies we need. Most importantly, it provides an easy and convenient online mortgage application together with up-to-date mortgage information that is helpful to our customers.’

The bank is subscribing to Ellie Mae's Web-based software via its Success-Based Pricing model, which allows it to pay based on the number of loans closed each month.

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