This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ellie Mae Announces Encompass360 Spring Release

Ellie Mae ® (NYSE: ELLI), a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, today announced the Spring Release to its Encompass360® mortgage management solution. The Encompass360 Spring Release contains more than 200 updates and enhancements and introduces significantly greater control and oversight of loan originator (LO) compensation plans.

Major enhancements include:
  • Improved LO Compensation Management: Helping mortgage lenders prepare for the January 2014 deadline for new Consumer Finance Protection Bureau (CFPB) rules by providing them with greater management, tracking and reporting capabilities over their compensation programs. With this upgrade, lenders can now establish and manage multiple compensation plans for both brokers and LOs. Encompass360 automatically applies the correct broker compensation plan to loans imported through Ellie Mae’s Encompass TPO WebCenter, a secure web portal for lenders to work and interact with their third-party originator partners. This upgrade helps eliminate errors that can occur with manual calculations by automatically populating the information into the Good Faith Estimate for proper disclosure. In addition, the upgrade also maintains a financial history log for audit purposes.
  • 4506-T IRS Form eSignature Support: Giving loan originators the ability to accept e-signed 4506-T tax return income verification forms from the IRS when ordered through Encompass360’s integrated Encompass 4506-T Service™, powered by CoreLogic ®. Using Encompass 4506-T Service, originators can electronically order, send and receive e-signed forms. When the borrower returns an e-signed form, it can go directly into Encompass360’s secure electronic loan folder without first going through a third-party document service.
  • Loan Quality Enhancements: Offering Ellie Mae Total Quality Loan™ (TQL) program participants greater and immediate visibility into the loan process by allowing the ability to track the status of ordered income, compliance, fraud and valuation services inside Encompass360. These enhancements also provide both lenders and investors better visibility into loan status.
  • Investor Guidelines and Eligibility Rules: Providing lenders updated links to current major investor guidelines and eligibility rules inside Encompass360 via the integrated Encompass Product & Pricing Service™. Additional functionality helps prevent Encompass360 users from offering invalid or stale pricing to loan originators when investors are re-pricing rate sheets.
  • New Encompass Flood Service: Giving originators the ability to order flood determinations and certifications as well as Life-of-Loan services directly from the Encompass360 loan file. This new service helps originators save time by returning flood certifications directly into the borrower’s electronic loan file within Encompass360.
  • Expanded TPO WebCenter Capabilities: Furthering Ellie Mae’s commitment to provide additional channel support for wholesale and correspondent clients, the Encompass360 Spring Release also expands the capabilities of the TPO WebCenter by providing online status messaging to improve communications and visibility between lenders and their third-party originators.

“Loan originator compensation continues to be a huge concern for both retail and wholesale lenders, and it looms even larger now with the June 1, 2013 effective date and January 2014 deadline for the new CFPB rules,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “Ellie Mae’s Encompass360 Spring Release includes sophisticated functionality to test for compliance, drive and monitor compensation plans and provide an audit trail for regulators, as well as many additional enhancements to help lenders improve loan quality and efficiency.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs