Ellie Mae unveils virtual service that connects originators and borrowers

by Candyd Mendoza16 Apr 2020

As part of its consumer engagement efforts, Ellie Mae has launched a new tool designed to ensure that originators and borrowers are virtually connected during the COVID-19 pandemic.

Ellie Mae's new Velocify LeadManager Essentials delivers automated messages to borrowers via text and email on behalf of an originator to increase lenders' conversions and pull-through rates.

Additionally, Velocify allows originators to follow up on a lead, abandoned applications, or missing documents. Lenders can also control Velocity's email, text, and message templates at a corporate level and can be tracked for comprehensive reporting.

"As retail mortgage companies are communicating entirely with borrowers online versus in person, they risk losing out on significant potential revenue due to slow or inconsistent follow-up," said Ellie Mae Chief Operating Officer Joe Tyrrell. "With LeadManager Essentials, lenders can confidently build and grow relationships to drive new business and respond to the growing volume of refinance interest by automating key communications between their originators and their borrowers. This service ensures communication occurs at the point of engagement while providing trackable data to offer insights into business performance."