|[July 23, 2014]
Ellie Mae Launches New Consumer Direct Solution for Lenders
PLEASANTON, Calif. --(Business Wire)--
Ellie Mae® (NYSE:ELLI), a leading provider of innovative
on-demand software solutions and services for the residential mortgage
industry, today announced a new Consumer Direct solution for its
Encompass® mortgage management solution.
Encompass Consumer Direct™ is a new self-service and lead-generation
solution for lenders looking to enhance service and efficiency while
catering to tech-savvy borrowers. Borrowers can access this highly
secure web-based solution 24/7 to:
Research loan products and rates.
Apply for a loan through a guided, user-friendly interactive
Order and pay for credit reports.
Shop for loan programs and compare products and rates side-by-side.
Receive disclosures and online status updates about their loan from
Upload and electronically sign documents.
Encompass Consumer Direct takes the daunting task of applying for a
mortgage and turns it into a guided step-by-step process that can take
less than 15 minutes to complete. It also gives the borrower greater
control and insight throughout the loan lifecycle.
Lenders can easily add their specific products using Encompass Product
and Pricing Service™ and configure Encompass Consumer Direct to fit
their business models. For instance, retail originators can forward
completed loan applications to loan officers for follow-up and maintain
the personal touch and one-on-one relationship with the consumer.
Lenders can also incorporate their own branding to their consumer direct
site and configure various modules to help consumers shop for and
calculate loan costs, get more information about the lender, ask for
assistance and finally apply for a loan.
The entire consumer experience is friendly, professional and
interactive. Borrowers can access the site from their PCs and tablets
and be guided step-by-step through the loan application process. If at
any point they abandon the process, the system captures where they have
been on the site, what products they considered and how far they
progressed with the application.
Encompass Consumer Direct seamlessly ensures compliance. Encompass
Consumer Direct correctly presents product, fee and pricing details,
along with the appropriate disclosures. The single system of record
eliminates multiple databases and keeps data consistnt, compliant and
easily accessible in the event of an audit. Encompass Consumer Direct
provides a secure online experience: application data is protected by
state-of-the-art encryption technology; all data is stored in Ellie
Mae's highly secure SSAE-15 and SOC2 certified data centers and no data
is stored on any device.
"We see huge potential with Encompass Consumer Direct, especially in
meeting the demands of our next generation of homebuyers - Millennials,"
said Jeanie Nivison, chief operating officer of VanDyk Mortgage. "A
great example is my own son, who does all of his research for financial
products online. This is where VanDyk is headed and Encompass Consumer
Direct can help us get there."
"A growing segment of today's borrowers are digital natives who are used
to using technology to research products and handle complicated tasks,
like filing taxes and making online purchase decisions," said Jonathan
Corr, president and chief operating officer of Ellie Mae. "Encompass
Consumer Direct will give these borrowers the same self-service,
time-shifting experience that they have become accustomed to. At the
same time, it will help lenders expand their channel offerings, generate
leads and convert and close more loans."
Encompass Consumer Direct is available now. For more information about
Encompass Consumer Direct, go to http://www.elliemae.com/consumer-direct.
This press release contains forward-looking statements under the safe
harbor provisions under The Private Securities Litigation Reform Act of
1995. These forward-looking statements include the capabilities, quality
and reliability of the Encompass Consumer Direct and the benefits that
individual lenders and investors may experience. Additional risks and
uncertainties related to the Company's business are discussed in the
Company's Securities and Exchange Commission filings, including but not
limited to the Company's Annual Report on Form 10-K for the year ended
December 31, 2013. Unless otherwise required by applicable laws, the
Company undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
About Ellie Mae
Mae (NYSE:ELLI) is a leading provider of innovative on-demand
software solutions and services for the residential mortgage industry.
Ellie Mae's all-in-one Encompass®
mortgage management solution provides one system of record that allows
banks, credit unions and mortgage lenders to originate and fund
mortgages and improve compliance,
quality and efficiency. Visit EllieMae.com
or call 877.355.4362 to learn more.
© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®,
DataTrac®, Ellie Mae Network™, Total
Quality Loan™, TQL™ and the Ellie Mae logo�are registered trademarks or
trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved.
Other company and product names may be trademarks or copyrights of
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