The company represents over half of all closed loan delivery volume
Ellie Mae has expanded its Encompass Investor Connect and teamed up with seven correspondent investors in the mortgage industry.
The company’s new partners include AmeriHome, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez, TMS, and Wells Fargo, along with other top-10 banks. With the partnerships, Ellie Mae now represents more than half of all closed loan delivery volume.
Encompass Investor Connect offers loan packages in a workflow system between lenders and investors that is part of the Encompass Digital Lending Platform. In addition, Investor Connect automates the loan packages delivery directly from the Encompass LOS to the investor.
“We continue to see significant momentum with Encompass Investor Connect as we further our mission to help originators and purchasers achieve a true digital mortgage,” said Parvesh Sahi, senior vice president of business development at Ellie Mae. “With the majority of the largest correspondent investors as our partners, we represent more than half of closed loan delivery volume. Many providers only look at digitizing the front-end of the mortgage transaction. However, as we continue to look at digitizing the entire mortgage process, Encompass and Encompass Investor Connect is helping lenders and purchasers reduce costs and increase efficiencies that benefit all players in the mortgage ecosystem.”
Ellie Mae said it would announce more partnerships in the next quarters.
“Since coming on board with Encompass Investor Connect, we are seeing impressive results and an improved seller experience,” First Home Mortgage Vice President Eric McCall said. “To date, we are saving about three to five minutes per loan file. While that might not sound like much, we originate over 10,000 loans a year and, therefore, those minutes per loan add up to thousands of hours saved as well as better relations with our investors. Additionally, we are excited to embrace all that Investor Connect has planned as Ellie Mae continues to improve the selling workflow and reduce the time and friction associated with legacy processes.”
