Per the agreement, the companies will further integrate Freddie Mac's Loan Prospector and Loan Quality Advisor, the suite's automated underwriting and risk and loan eligibility tools, with Encompass to develop more efficient workflows for the mortgage industry.
Ellie Mae and Freddie Mac will also assess future integration opportunities as new Loan Advisor Suite components are introduced, such as the Loan Collateral Advisor. This will enable Ellie Mae customers to easily and confidently originate loans within Freddie Mac guidelines.
‘By working with Ellie Mae, we will leverage our technological innovations and expertise to give our customers greater opportunities to become more efficient and competitive,’ says Dave Lowman, executive vice president at Freddie Mac. ‘Our goal is to give America's lenders a better way to originate loans that meet Freddie Mac guidelines more easily and with greater certainty.’