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Mr. Cooper Partners With Ellie Mae and Encompass

DigitalEllie Mae, a cloud-based platform provider for the mortgage finance industry, announced that Mr. Cooper the nation’s largest non-bank mortgage servicer and a leading mortgage lender, has deployed the Encompass Digital Lending Platform and Encompass TPO Connect for its wholesale and non-delegated channels. TPO Connect optimizes lender’s wholesale and investor’s non-delegated correspondent channels through a fully equipped, customizable, and interactive web experience built on the Encompass Digital Lending Platform, allowing lenders with multiple channels to leverage a single solution.

As a result of its acquisition of Pacific Union Financial in February 2019, Mr. Cooper acquired the Wholesale and Non-delegated Correspondent lending channels and technologies. This amounted to a total of five differing Loan Origination Systems (LOS) to manage and maintain, including some that were unable to support the mandatory URLA changes expected in 2020 and others that were inefficient and required supplementary manual upkeep.

After successfully utilizing Ellie Mae’s Encompass for its Direct-to-Consumer Channel, Mr. Cooper turned to the Encompass Digital Lending Platform for some of their third-party businesses due to its system optimization, cost, ease of use, and quick implementation timeline. Use of TPO Connect and the Digital Lending Platform enabled Mr. Cooper to reduce the cost and complexity of its total solution footprint while allowing for a more seamless, true multi-channel lending platform experience.

“We were looking for an opportunity to streamline our technology for a seamless platform experience, and Ellie Mae helped us to achieve that goal,” said Tony Ebers, COO of Mr. Cooper Group Inc. “With Ellie Mae’s support we are offering an interactive web experience that optimizes our channels to increase volume and profitability while ensuring data accuracy.”

“Encompass TPO Connect is designed to enable lenders to extend the Encompass Lending Platform to their wholesale and correspondent partners through an interactive web experience that provides a streamlined experience for all non-retail channels,” said Jonathan Corr, President and CEO of Ellie Mae. “We’re thrilled to be able to support Mr. Cooper through its evolution and provide comprehensive solutions that streamlines workflow across all channels.”

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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