Skyline Financial, an independent retail direct mortgage lender, has selected Ellie Mae's Encompass360 Mortgage Management Solution as its technology for managing the mortgage process and expanding its origination business.
Skyline Financial is acquiring several mortgage companies and empowering them to become direct lenders by providing those companies with the Ellie Mae technology. Skyline Financial can sell its loans directly to the government agencies, which the company notes saves the costs and needless underwriting overlays often incurred by correspondent lenders.
The company is under the leadership of Chairman and CEO Bill Dallas, co-founder of First Federal, Heritage Bank of Commerce and California Oaks State Bank. Dallas was also a partner with Interthinx, MindBox, Ownit and Factual Data.
"With upcoming changes to RESPA, the SAFE Act and HVCC, originators can find that they're spending an inordinate amount of time making sure they're compliant," says Dallas. "Encompass360 provides an automated way to safeguard against violations throughout the mortgage process. We couldn't be happier to offer our affiliates access to this kind of technology."
SOURCE: Ellie Mae