Ellie Mae, the California-headquartered cloud-based platform provider for the mortgage finance industry announced that two new suites of applications are available via Ellie Mae’s Encompass true digital mortgage solution platform - Encompass Data Connect and Encompass Investor Connect.
Encompass Data Connect is designed to help mortgage lenders make smarter decisions faster using real-time data and is available to all lenders using the Encompass NG Lending Platform. Early adopters are already leveraging the power of the solution to not just gain greater insight into their business, but to incorporate machine learning, artificial intelligence, and process automation to create their own unique versions of a digital mortgage. Specifically, Data Connect gives lenders streamlined data access, enhanced security through encryption of personally identifiable information, and faster, smarter decision-making with near real-time access to their loan data.
Encompass Investor Connect establishes secure system-to-system workflows between lenders and correspondent investors, ensuring the delivery of accurate, compliant, and tamper-proofed loan data and docs. Encompass Investor Connect replaces the Encompass Data & Docs Solution and is purposely built on the Encompass NG Lending Platform framework for a true digital mortgage experience. It supports the needs of lenders and investors, removing the manual loan package delivery process by automating directly from the Encompass LOS to the investor, improving pricing tiers and purchase times while enhancing efficiency, accuracy, and compliance.
Ellie Mae currently has partnerships with correspondent investors including, Caliber Home Loans, Flagstar Bank, Pacific Union Financial, and Wells Fargo for the Encompass Investor Connect Solution.
“Unlike other delivery solutions, Ellie Mae’s Encompass Investor Connect provides validated and trusted data delivered right from the lender’s system of record,” said Joe Tyrrell, EVP of Corporate Strategy for Ellie Mae. “Ellie Mae is furthering our promise of a true digital mortgage by offering the first block of trusted data and seamlessly transferring it directly to investors, eliminating the need for imaging, indexing, and revalidation.”