Ellie Mae has made it easier for lenders to acquire HELOC customers and originate and sell HELOCs with greater efficiency at a higher return on investment.
The mortgage software firm has enhanced its Encompass Digital Lending Platform with additional automation capabilities and providing expanded HELOC functionality which adds the ability to preconfigure the set up key disclosure information.
“The opportunity for lenders to capitalize on HELOC trends has never been greater. As home prices continue to rise, total available home equity across the country has continued to increase in parallel,” said Joe Tyrrell, chief operating officer, Ellie Mae.
The 19.3 major release also includes:
- The ability to dynamically generate historical examples that are provided as part of the Important Terms Disclosure
- Significant capability for customers to configure their HELOC offerings and calculations
- Major enhancements for customers to configure language within the HELOC Agreement and Important Terms Disclosure
“To help lenders capitalize on the increased consumer demand for HELOCs, Ellie Mae has introduced more functionality designed to help lenders originate more loans, lower costs, and deliver an improved borrower experience across the entire HELOC lending lifecycle in a digital lending platform,” added Tyrrell.
More market update: