Ellie Mae [1]®, a cloud-based platform for the mortgage finance industry based in Pleasanton, California, announced that it has completed its acquisition of Velocify [2], a sales acceleration platform. The company’s acquisition was spurred in part to align with Ellie Mae’s goal to offer a fully digital mortgage.
“Going forward Ellie Mae will integrate Velocify’s lead management, engagement and distribution capabilities withEllie Mae’s Encompass CRM’s unique approach to automated one-to-one personalized marketing and the Encompass Consumer Connect digital consumer experience,” Ellie Mae said in a release.
Jonathan Corr, President and CEO of Ellie Mae, also commented on the news, saying, “Ellie Mae’s North Star is to automate everything automatable for the residential mortgage industry, and we believe that a true digital mortgage must encompass the entire loan lifecycle, from targeted marketing automation to lead generation to application to automated investor delivery. The acquisition of Velocify accelerates our delivery of a true digital mortgage solution for the industry.”
Upon the announcement of the acquisition it was also released that Nick Hedges, former president and CEO of Velocify will move into the role of SVP of Ellie Mae. “Velocify and Ellie Mae are longtime partners in the mortgage space thanks to our integration with their Encompass solution. We’re both fueled by the mission to simplify and speed up the mortgage process to help lenders originate more loans, lower costs and reduce time to close,” said Hedges.