Re: Encompass.
Ellie Mae Announces Encompass Banker Edition
Highly acclaimed broker origination system to also serve bankers and brokers-turned-bankers
DUBLIN, CA—March 27, 2006—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, has announced the development of Encompass Banker Edition, a banker-focused version of its acclaimed Encompass Mortgage Automation System.
The development of Encompass Banker Edition supports Ellie Mae's original strategy for Encompass. "Four years ago, the vision behind Encompass was to set a new standard and create a mortgage solution that would meet the needs of all sizes and kinds of originators, and all user types," explains Jonathan Corr, chief strategic officer at Ellie Mae. "The goal was to take the traditional desktop loan origination system to a new level that would better serve the business needs of today's brokers and bankers. Our broker solution has become the new standard in loan software adopted by small and large brokers. With Encompass Banker Edition, we're now taking the next step and meeting the needs of bankers, too."
Encompass Banker Edition will respond to growing customer demand. "Our success has been driven by our ability to listen and respond to our customers' needs," states Corr. "Our customers and prospects have asked for an Encompass product tailored to bankers, and before the end of the year we'll be delivering just that."
"The introduction of Encompass Banker Edition will also prove very useful for the many brokers making-or wishing to make-the transition to banker," adds Corr. "We expect very positive response from brokers and bankers alike."
"We switched to Encompass from Calyx® Point® last year because of the greater management control it afforded, giving us complete visibility of current information on every loan in the company's pipeline," says Mark Klein, president of Pacific Coast Lending in Agoura Hills, California. "We have now grown to become a banking operation, so we plan to switch to the Encompass Banker Edition when it becomes available. Our business has benefited tremendously from the switch to Encompass, so we are anticipating Encompass Banker Edition with enthusiasm."
Encompass Banker Edition is scheduled for delivery in the fourth quarter of 2006. The Encompass Mortgage Automation System is the foundation of Encompass Banker Edition, and incorporates Ellie Mae's 20+ years of experience with Genesis 2000® and Contour customers, one third of which are mortgage bankers, community lenders and credit unions. Many Encompass customers are also mortgage bankers.
Encompass Banker Edition is tailored for bankers, small and medium-sized lenders, community lenders, and credit unions.
In addition to having Encompass' distinct interfaces for origination, processing and closing staff, the system will include interfaces for banking personas such as underwriter, secondary and funding, as well as custom personas. The system will cover the entire banking workflow and will be configurable to adapt to a company's desired business process.
Since its launch two years ago, the response to Encompass has been very strong:
Over 11,000 companies have licensed Encompass, totaling over 100,000 users
Over half of the top 200 brokers use Encompass, including three of the top five in the nation
Over 200 companies are switching to Encompass per month
About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, which was recently named to the Inc. 500 list of America's fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company's flagship Encompass® mortgage automation system, Contour™ and Genesis 2000® loan origination software, Encompass Websites™ for mortgage brokers, and Ellie Mae Docs™ services for document processing. Ellie Mae's ePASS® Network is the mortgage industry's online transaction platform enabling all mortgage companies in the United States to easily do business online with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (888) 955-9100.
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