Moves from Multiple Systems to One End-to-End Solution
PLEASANTON, CA – June 15, 2012 – Ellie Mae® (NYSE: ELLI), a leading provider of enterprise level, on-demand automated solutions for the residential mortgage industry, today announced that LeaderOne Financial, Overland Park, KS, has selected Encompass360® as its mortgage management solution. LeaderOne Financial was founded in 1992 by its CEO, A.W. Pickel III, a past president of the National Association of Mortgage Brokers. In 2011, the company originated nearly $500 million in mortgages through its retail loan officers and was named one of the fastest-growing private companies by Inc. Magazine (#12 in the nation among financial services companies).
LeaderOne Financial evaluated nine loan origination systems (LOS) over a nine-month period before ultimately selecting Encompass360.
“I was an industry consultant before joining LeaderOne Financial and had researched many LOS platforms,” said David Pearson, chief operating officer and executive vice president of operations for LeaderOne Financial and a 20-year mortgage-industry veteran. “What I always discovered is that if an LOS is strong on the front end, generally it is inefficient on the back end and vice versa. But Encompass360 is different –– it’s more evolved and able to perform on both the front and back end. What really tipped the scales were the controls, portability, reporting ability and compliance functionality that Encompass360 gives us.”
Although his company is still in the early days of implementation, Mr. Pearson is already seeing the rewards. “With everybody working off the same page, no data gets lost, which means we can remain a paperless organization. Plus, Ellie Mae’s Success-Based Pricing model fits well into our organization,” he said.
“Selecting an enterprise LOS platform and deciding on how you would like to pay for this technology are important decisions that require a great deal of research,” said Jonathan Corr, Ellie Mae’s chief operating officer. “Being selected by a discerning client like LeaderOne speaks volumes about the confidence they have in Encompass360 and the flexibility that Success-Based Pricing offers.”