Independent Bank Selects Ellie Mae’s Encompass To Tame RESPA-TILA

Posted by Patrick Barnard on April 21, 2015 No Comments
Categories : Residential Mortgage

Independent Bank, a full-service mortgage lender with 64 branch locations throughout Michigan and $2.3 billion in total assets, is now using Ellie Mae's Encompass all-in-one mortgage management solution as its platform for originating mortgages.

Ellie Mae reports that the lender had been using the same platform for originating mortgages since 1999, however, with the requirements of the Consumer Financial Protection Bureau's new integrated disclosure rules going into effect Aug.1, the company decided it was a good time to upgrade.

Ellie Mae announced in March that its mortgage origination software now delivers the needed features and functionality to help lenders comply with the complex set of new rules.

Independent Bank also selected Encompass for its ease of integration with existing systems, Ellie Mae says in a release.

‘One of the biggest benefits was that Ellie Mae's Encompass is a fully-integrated, all-in-one solution with a huge focus on compliance,’ says Russ Daniel, senior vice president of lending for Independent Bank. ‘In fact, before we had even looked at Encompass, members of my team had been attending Ellie Mae's free webinars on RESPA-TILA compliance. With these new lending requirements about to take effect, it's a huge confidence booster to know we have a partner like Ellie Mae working behind the scenes to guide us through these changes.’

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