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Ellie Mae Launches Encompass Lending Platform

Technology BHEllie Mae, a provider of software solutions for the residential mortgage industry, has announced the launch of its Ellie Mae’s Encompass Lending Platform and a suite of applications with the goal of allowing users to make greater use of existing Ellie Mae technology to grow their business.

The Encompass Lending Platform provides users with a secure, scalable platform and a suite of Application Program Interfaces (APIs) and developer resources which will enable users to use Ellie Mae’s existing Encompass technology with new functionality. The Encompass Lending Platform also allows users to easily integrate Encompass with external systems and data and to build custom applications in the cloud, according to the company’s announcement.

“With the Encompass Lending Platform, what we're really doing is taking the all-in-one solution that we've been bringing to the marketplace and we're creating even more access, not only to data, but also leveraging a full suite of application program interfaces to allow essentially any of our lenders or third parties to now be able to build on top of our platform,” said Joe Tyrell, EVP Corporate Strategy, Ellie Mae. “So it's really unlocking innovation. Anything that a lender or third party could even come up with, we now can enable them to actually build and realize, based upon this open architecture and this API gateway that we're providing to the industry.”

Ellie Mae has built a suite of applications branded as the Encompass Connect Solutions by leveraging the Encompass Lending Platform APIs in order to improve visibility and collaboration between loan officers, third-party originators, developers, and homebuyers.

“With the platform approach, what we now allow is lenders and third parties to take our APIs and completely innovate in ways they think will give them an advantage but at the same time, allow them to leverage a single calculation engine, a single forms engine, a single compliance engine, to make sure that whatever they're building is still within the requirements that they need to adhere to in order to stay compliant and have good quality loans that ultimately get sold off into the secondary market,” Tyrell said.

The Encompass Connect Solutions, which will launch throughout the fourth quarter of 2016, include:

Encompass TPO (Third Party Originator) Connect—Offers wholesale and correspondent lenders a modern and collaborative web experience for TPO partners, promoting compliance, data integrity, and the easy sharing of data and documents and bi-directional communication throughout the loan process.

Encompass Loan Officer Connect—Provides a fast and easy way for loan officers to originate and track the progress of loans securely and instantly from any device.

Encompass Consumer Connect—Enables lenders to deliver a state-of-the-art engaging and self-service online loan origination experience for homebuyers that lenders can create easily and completely control.

Encompass Developer Connect—Provides developers with APIs, tools, and a comprehensive developer portal they can use to create new features for Encompass. The Developer Connect app allows developers to easily integrate Encompass with external systems and data, and build and deploy custom applications in the cloud. Encompass Developer Connect will be available in the first quarter of 2017.

“To put it simply: with a platform approach to lending, the opportunities and ideas are endless. Today’s launch of the Ellie Mae Encompass Lending Platform puts more power into the hands of our customers, partners and developers, enabling them to rapidly extend, integrate, and build new capabilities with Encompass that serve to differentiate and grow their businesses,” said Jonathan Corr, President and CEO, Ellie Mae. “The Encompass Lending Platform helps us deliver on our mission of automating everything automatable in residential mortgages. It’s a giant step forward for the mortgage industry.”

“Ellie Mae’s Encompass Lending Platform is poised to revolutionize lending,” said Bill Cosgrove, President and CEO, Union Home Mortgage. “We’ll be able to build and launch new solutions more rapidly and with no added technology investment. The platform arms us with the capabilities we need to transform how we interact with and serve homebuyers while staying ahead of the competition.”

Click here for more on Ellie Mae’s Encompass Lending Platform.

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

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