This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Postal Credit Union Selects Ellie Mae’s Encompass 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 Postal Credit Union, Woodbury, Minn., has selected Encompass ® as its mortgage management solution.

Postal Credit Union is a full service financial cooperative with five branches in Minnesota. It is currently the ninth largest credit union in Minnesota with approximately 45,000 members and $550 million in assets.

“When we began looking for a new system, our goal was to increase efficiency by working within a single system rather than going back and forth from one system to another,” said Faith Tholkes, Director of Mortgage Sales at Postal Credit Union. “Ellie Mae provides an end-to-end solution. We expect to increase our productivity by up to 40% thanks to greater efficiency and paperless processing.”

Tholkes added, “Ellie Mae also accommodated our very aggressive implementation period of 60 days. They’ve been great to work with and have provided us with the answers to build and configure our system to our specific needs.”

Postal Credit Union is using Encompass and its integrated Encompass Compliance Service™, document management system, product and pricing service and its WebCenter. The company is also taking advantage of Ellie Mae’s Success-Based Pricing model, which allows them to pay for their software and services based on the number of loans they close every month.

According to Postal Credit Union, Encompass allows its mortgage business, which is divided into several different offices, to work seamlessly and efficiently by eliminating the need to courier files, use several different systems to complete tasks on a file and seek out management assistance for specific product pricing.

“Implementation of new mortgage management systems can be an intimidating process, particularly for smaller lenders,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We are pleased that we can offer rapid implementation to clients like Postal Credit Union so that they can get up and running quickly and enjoy the benefits of greater efficiency sooner.”

1 of 3

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs