PLEASANTON, Calif.--(BUSINESS WIRE)--Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI) and currently the largest correspondent aggregator in the United States, will leverage Ellie Mae’s next generation Encompass™ Digital Lending Platform to support its correspondent business. This move expands PennyMac’s long standing relationship with Ellie Mae’s Encompass platform, allowing PennyMac to eventually consolidate its consumer direct, broker direct and correspondent businesses on a single platform.
October 2017 Encompass SmartClient Installation and Login Instructions 6 How to Get Up and Running with Encompass To quickly learn about Encompass, take advantage of the Ellie Mae Resource Center and all it has to offer. Nov 11, 2019 Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality,.
PennyMac has long trusted Ellie Mae to deliver innovative technological solutions to support its tremendous growth. Based on a successful partnership dating back to 2008, PennyMac recently reached out to Ellie Mae to inquire about expanding that relationship. Ellie Mae’s commitment to innovation, automation and value-added business solutions allowed it to meet PennyMac’s timeline and align with PennyMac’s business model.
“Ellie Mae shares our vision for world-class customer service, and in creating a differentiated experience for all of our clients,” said Doug Jones, PennyMac Loan Services’ president. “We believe in partnering with companies that offer the very best technology and client service and Ellie Mae’s commitment to modern technology and practical business solutions were critical to our decision. In the near term, we are thrilled to leverage Ellie Mae’s next generation Encompass Digital Lending Platform within our correspondent lending channel.”
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The Encompass Digital Lending Platform empowers lenders and investors to engage homebuyers and efficiently originate, close, sell and purchase loans that maximize ROI across their business, all from a single system of record. The platform delivers a true digital mortgage experience across the entire loan origination workflow, for every channel, every loan transaction and every customer type.
- In September 2013, Ellie Mae introduced the updated mortgage-management system Encompass360 to help underwriters comply with the latest federal mortgage rules in beginning in 2014. This system features debt-to-income calculators, discount assessment, and tools for evaluating a given loan's quality.
- Encompass® CRM – Access automated one-to-one marketing and business intelligence (available as an add-on service, 10 seat minimum) Additional services. Encompass Appraisal and Title Service; Ability to order services via the Ellie Mae Network; Data access and reporting. Business reporting; 100 user-defined custom fields.
- Processing FHA 203(k) Loans in Encompass This guide describes how to enter data for FHA 203(k) purchase and refinance loans on the FHA 203(k) tab on the FHA Management form in Encompass version 17.3 and later. The tab was previously used to populate FHA 203(k) worksheet documents, which were discontinued by HUD in 2016. HUD now requires.
“We have valued our relationship with an industry leader like PennyMac, which has always been at the forefront of innovation,” said Jonathan Corr, president and CEO of Ellie Mae. “We are excited to expand the relationship by providing a single platform to support all of PennyMac’s lending channels and to continue progressing our shared vision of intelligent automation to drive further efficiencies and value for PennyMac and its clients.”
For more information on the Encompass Digital Lending Platform, visit: https://www.elliemae.com/encompass/encompass-digital-lending-platform
About Ellie Mae
Ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and efficiency. Visit EllieMae.com or call (877) 355-4362 to learn more.
About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Additional information about PennyMac Financial Services, Inc. is available at ir.pennymacfinancial.com.
© 2019 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®, Velocify®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
PLEASANTON, Calif.--(BUSINESS WIRE)--Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, announced today new functionality for Encompass Loan Officer Connect™. This new functionality gives loan officers secure, real-time access to Ellie Mae’s Encompass™ digital mortgage solution – anytime, anywhere – from any device.
Loan Officer Connect enables loan officers to originate from anywhere, increasing productivity and efficiency, provide superior customer service to quickly address homebuyers while ensuring compliance throughout the loan lifecycle. The solution features the highest level of data access with built-in security and is configurable to your unique loan officer needs.
Available today, Loan Officer Connect offers new functionality to:
- Convert leads into loans by instantly providing a potential borrower with loan scenarios that match their needs, leveraging the Scenarios Comparison tool.
- See incomplete applications from Encompass Consumer Connect™ and convert them into loans.
- Manage your pipeline, view and edit loan files, and see details throughout the entire loan lifecycle.
- Request eConsent and eSign loan documents.
- Price loan and lock in pricing with Encompass Product & Pricing Service or Optimal Blue®.
- Access services landing page to order and manage services including product and pricing, credit and automated underwriting – all in one place.
“In today’s competitive mortgage market, service is the key differentiator and we know that a loan officer’s ability to stay engaged is critical to their success. They have to follow up on every lead and take advantage of every opportunity all while responding to the unique needs of each homebuyer,” said Jonathan Corr, president and CEO of Ellie Mae. “With Loan Officer Connect, we are giving loan officers access to Encompass anytime, anywhere from any device at no additional cost. It means more closed loans, more productivity and happy homebuyers.”
For more information on Encompass Loan Officer Connect, visit https://www.elliemae.com/encompass/encompass-loan-officer-connect
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call (877)355-4362 to learn more.
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© 2019 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®, Velocify®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.