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The Industry Pulse: Updates on Ellie Mae, RoundPoint Mortgage, and More

The Industry Pulse

From partnerships and appointments to new branding and technology get the latest buzz on the industry in this weekly update.

Ellie Mae announced that TD Bank had begun their roll out of the Encompass digital mortgage solution, an Ellie Mae platform. TD Bank hopes to use Encompass to merge origination and call center vendor integrations onto one platform, as well as speed up deployment of new online products and reduce loan cycle times. “We are thrilled to announce that TD Bank has officially completed its initial rollout of Encompass,” said Jonathan Corr, President and CEO of Ellie Mae. “We’ve worked together to successfully transition TD from a legacy origination system to an agile solution equipped to handle the complexities and loan volume experienced by a leading national bank. We value the opportunity to partner with TD Bank to help them grow the mortgage lending arm of their business.”

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RoundPoint Mortgage Servicing Corporation, a North Carolina-based non-bank mortgage servicing company, announced that it has completed a $94 million equity private placement of convertible preferred stock. “We are excited to work with new partners that share our vision for continued growth at RoundPoint. This capital raise will assist us in our mission to build a leading, fully integrated mortgage banking institution that promotes sustainable homeownership,” said Kevin Brungardt, CEO of RoundPoint. “The proceeds from the offering will be used primarily to support our ongoing expansion of our firm such as growing the company’s leading mortgage servicing rights co-issue program and investing in other corporate initiatives that should generate strong market-rate returns, and secondarily for other corporate purposes, such as repaying certain indebtedness.”

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Denver, Colorado-based PromonTech, the technology unit of Promontory MortgagePath, has announced the integration of its point-of-sale (POS) solution, Borrower Wallet, with FormFree’s automated asset verification service, AccountChek. “FormFree was designed to streamline the loan origination process and reduce risk by providing better insight into borrowers’ ability to repay,” said Brent Chandler, Founder, and CEO of FormFree. “Our integration with Borrower Wallet enables PromonTech to instantly complete three verifications—asset, income, and employment—in one action that is simple for applicants and more efficient for lenders.” PromonTech has said that AccountChek was the first asset evaluation solution to be accepted by Fannie Mae’s Day 1 Certainty program and as a result of this integration, its Borrower Wallet clients could now take advantage of Day 1 Certainty, as well as streamlined asset verification and accelerated credit decisioning.

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ACES Risk Management (ARMCO) announced the launch of its new Fraud Case Manager, a web-based project management and analysis tool aimed at centralizing fraud investigations into a single system. “Fraud cases are full of confidential details and valuable data, and most lenders aren’t using this data to their advantage,” said Phil McCall, President of ARMCO. “Now lenders can use Fraud Case Manager to protect sensitive information, analyze data for strategies going forward, and increase efficiency and accuracy.” Fraud Case Manager is intended to be a more efficient system for mortgage lenders in monitoring and reporting suspicious, possibly fraudulent activity. While lenders traditionally rely on spreadsheets or other systems to handle multiple cases simultaneously, this opens them up to data breaches and other issues.

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.
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