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Essent Guaranty Announces Integration With Ellie Mae's Encompass360 Mortgage Management Software System

Stocks in this article: ELLI

PLEASANTON, Calif. and RADNOR, Pa., April 22, 2013 /PRNewswire/ -- Ellie Mae ®, Inc. (NYSE: ELLI), a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, and Essent Guaranty, Inc., a nationwide provider of mortgage insurance, jointly announced today that more lenders will have faster and more efficient access to order mortgage insurance, check eligibility and obtain rate quotes through Essent's recent integration with Ellie Mae's Encompass360 ® mortgage management software.

Encompass360 reduces the time and simplifies the process for Essent to provide mortgage insurance coverage and also enables lenders to underwrite mortgage loans based on Essent's mortgage insurance guidelines. Through the Encompass360 platform, Essent's customers have all the information needed to populate the required mortgage insurance fields and receive a rate quote or commitment for mortgage insurance.

"Partnering with a market share leader like Ellie Mae will help more of our clients reduce duplicate data entries and speed up mortgage loan processing," said Bill Kaiser, Essent's chief operations officer. "Now, ordering Essent mortgage insurance and closing loans will be easier because of this integration."

"We are pleased to be working with Essent, and believe this advanced integration will help expedite the MI ordering process for our joint clients," said Richard Roof, senior vice president of business development at Ellie Mae.

About Essent

Essent's mission is to serve the housing finance industry by providing private capital to bear mortgage credit risk for lenders and investors, enabling them to make safe and affordable mortgage financing available for homeowners. The Company's investors include Pine Brook Road Partners, Goldman Sachs, J.P. Morgan, PartnerRe and RenaissanceRe Ventures Ltd. By guarding lenders and investors against the risk of credit losses, Essent demonstrates a commitment to—and confidence in—U.S. homebuyers and the evolving housing finance system. And with its signature offering, Clarity of Coverage®, the company is leading the way to a more sustainable future for the housing industry.

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