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

Monona State Bank Selects Ellie Mae’s Encompass360 Mortgage Management Software

Ellie Mae ® (NYSE: ELLI), a leading provider of enterprise level, on-demand automated solutions for the residential mortgage industry, today announced that Monona State Bank, Monona, Wis., has selected Encompass360 ® as its mortgage management solution.

Monona State Bank is a full service community bank with three branches in Wisconsin. In 2012, the bank originated approximately $130 million in first mortgages. As an approved servicer for Freddie Mac, Monona State Bank is currently servicing approximately $295 million in mortgages.

Prior to beginning the Encompass360 implementation process with its integrated Encompass Compliance Service™ and Success-Based Pricing model, Monona State Bank was using multiple systems. “When we learned that our prior doc prep system would no longer be available at the end of the year, we decided to make the move to one end-to-end solution,” said Marcia Howe, senior vice president of mortgage lending at Monona State Bank. “Other systems claim to be end-to-end, but then they bill everything separately. With Ellie Mae, what you see is what you get.”

Howe added, “As a relatively small community bank, we were a bit nervous about the transition and needed to know support would be there throughout the process. Ellie Mae put us at ease and made us feel like we were just as important as their larger clients, and not like we were just a little guy. Also, since we had been doing our compliance checks manually before, we expect their compliance features will give us more time to focus on our customers and building our business.”

“Although internet and customer-direct lending are clearly a growing trend, it is important to remember that many customers want and prefer personalized attention,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We’re pleased to be able to help lenders like Monona State Bank that need easy-to-implement solutions to help assure compliance and deliver a superior, in-person customer experience.”

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs