Ellie Mae Launches Major Release of Encompass All-in-One Mortgage Management Solution
October 17 2016 - 9:00AM
Business Wire
Encompass 16.3 includes new features for
Encompass, Fannie Mae and Freddie Mac enhancements, new Total
Quality Loan program service options and enhancements to Encompass
Product & Pricing Service
Ellie Mae® (NYSE:ELLI), a leading provider of innovative
on-demand software solutions and services for the residential
mortgage industry, announced today that it has launched a major
release of Encompass, its all-in-one mortgage management solution.
Encompass 16.3 includes new features for Encompass, enhancements to
Fannie Mae and Freddie Mac solutions, new Total Quality Loan®
(TQL®) service ordering options, additions to Secondary Marketing
and significant enhancements to Encompass Product & Pricing
Service™.
“The latest major release of our Encompass all-in-one mortgage
management solution offers enhancements to our integrations with
Fannie Mae and Freddie Mac and more customer choice when ordering
TQL services with leading providers like First American Mortgage
Solutions and DataVerify,” said Jonathan Corr, president and CEO of
Ellie Mae. “And later this fall we’ll be offering major
enhancements to the Encompass Product & Pricing Service
expanding our lenders ability to manage their own custom programs
and well as a new dashboard to provide visibility into the status
of pricing files as well as securely manage investor
credentials.”
Encompass New Features
Encompass 16.3 features several core updates, including:
- Settings Report: This new
reporting feature enables the quick generation of reports that
contain an organization’s user access settings, providing
visibility for business managers as well as responses to possible
auditor questions related to access rights.
- Business Rule Export and Import:
This new feature enables the export and import of a variety of
configurable business rule types to Extensible Markup Language
(XML) files. These business rules are those that are changed most
often and the export view assists lenders deploying Encompass
software updates between test and production environments.
- Enhanced Support for Uniform Closing
Dataset (UCD) Export: Well in advance of the new UCD delivery
requirements going into effect September 25, 2017, lenders are able
to test this updated export in support of the more detailed data
collection expected by Government Sponsored Entities (GSEs),
including detailed classification of adjustments and other
credits.
Secondary Marketing Enhancements: New tracking features
have been added, designed to support multiple types of Loan
Collateral and includes calendar driven follow-ups for collateral
requests and a history of collateral requests, receipts and
shipments with associated comments. Encompass has also expanded its
lock desk hours feature to include separate hours by loan channel
(Retail, Wholesale, Correspondent) and the ability to have
different lock desk hours on Saturdays and Sundays. Secondary
Marketing functionality also now supports Fannie Mae’s Pricing and
Execution (PE) MBS pricing platform. And finally, updates were made
to the 1098 Mortgage Interest for creating a 1098 that will comply
with the tax rules for 2016 and beyond.
Fannie Mae Enhancements: Enhancements to Encompass’
unique automated workflow for Fannie Mae’s Desktop Underwriter® and
EarlyCheck™ drive more efficiencies and help identify and correct
any potential eligibility or data discrepancies prior to loan
delivery.
Freddie Mac Enhancements: Encompass now offers pop up
screen capabilities that show data elements changed between orders
within Automated Underwriting System (AUS) tracking to help easily
identify any data discrepancies when using Loan Product AdvisorSM,
the cornerstone tool in the Freddie Mac Loan Advisor SuiteSM.
New Total Quality Loan (TQL) Service Ordering Options
Also with the Encompass 16.3 Release, Ellie Mae is expanding the
Total Quality Loan program (TQL) in Encompass to deliver additional
service choices through a new partnership with DataVerify. Those
already using DataVerify DRIVE® for fraud and income verification
(4506-T) will be able to order those services through the TQL
screen in Encompass.
FraudGuard®, a comprehensive decision-support tool designed to
quickly and accurately identify risk in mortgage transactions, has
also been added to TQL through a new partnership with First
American Mortgage Solutions, allowing users the ability to clear
alerts and re-score files within the platform.
Encompass Product & Pricing Service Enhancements
Coming later in the quarter, Encompass Product & Pricing
Service will offer new Rule Manager functionality which will expand
the existing customer-managed holdback functionality and provides
the ability to customize investor loan programs with overlays. This
feature will allow client administrators the ability to set profit
margins and loan-level adjustments, display qualifications notes
and disqualify loans conditionally based on a number of commonly
tested loan characteristics.
Encompass Product & Pricing Service will also introduce a
new dashboard. The dashboard will allow lenders to upload rates for
processing and allow them to view the status of their pricing
files, even if they do not use the upload capability. Finally, the
dashboard will allow clients to securely manage their Investor
Credentials.
For more information about Encompass, visit:
http://www.elliemae.com/encompass/encompass-overview
Forward-Looking Statements:
This press release contains forward-looking statements under the
safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. These forward-looking statements include the
enhanced functionality of the Encompass 16.3 version and the
benefits of the integration with third party applications such as
Freddie Mac Loan Product Advisor and Loan Quality Advisor, Fannie
Mae’s Desktop Underwriter® and EarlyCheck® or services offered by
DataVerify and First American Mortgage Solutions. Additional risks
and uncertainties related to the Company’s business are discussed
in the Company’s Securities and Exchange Commission filings,
including but not limited to the Company's Annual Report on Form
10-K for the year ended December 31, 2015, as updated from time to
time by our quarterly reports on Form 10-Q and our other filings
with the Securities and Exchange Commission. Unless otherwise
required by applicable laws, the Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative
on-demand software solutions and services for the residential
mortgage industry. Mortgage lenders of all sizes use Ellie Mae’s
Encompass® all-in-one mortgage management solution, Mavent
Compliance Service, and AllRegs research, reference and education
resources to improve compliance, loan quality and efficiency across
the entire mortgage lifecycle. Visit EllieMae.com or
call (877) 355-4362 to learn more.
© 2016 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®,
DataTrac®, Ellie Mae Network™, Mavent®, Mortgage
Returns®, Prospect Manager®, Total Quality Loan®, True
CRM®, TQL® and the Ellie Mae logo are trademarks of Ellie Mae,
Inc. or its subsidiaries. All rights reserved. Other company and
product names may be trademarks or copyrights of
their respective owners.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161017005128/en/
Ellie Mae, Inc.Erica Harvill,
925-227-5913Erica.harvill@elliemae.comorAllison+PartnersAlexandra
Gardell Kreuter, 646-428-0618EllieMae@allisonpr.com
Ellie Mae, Inc. (NYSE:ELLI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ellie Mae, Inc. (NYSE:ELLI)
Historical Stock Chart
From Apr 2023 to Apr 2024