Ellie Mae ® (NYSE: ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced that Ditech Mortgage Corp (“ditech”) has selected Ellie Mae’s Encompass ® as its mortgage management solution.
ditech provides residential mortgage products through a team of Home Loan Specialists who are easily accessible by phone, online and in-person. The company’s Correspondent Lending division has a legacy of building successful business solutions and partners with 600+ financial institutions nationwide, providing capital market expertise and financial stability.
ditech plans to implement Encompass to support a nationwide expansion of its lending operation. Patti Cook, president of DT Holdings, parent company of ditech, said, “We selected Encompass because it enables us to deliver a high-touch experience for all of our customers – those who work with Home Loan Specialists in our retail locations, those who contact us online and over the phone and those who are members of the correspondent banking community.”
Denise Palko, vice president of technology solutions at ditech, added, “We expect that Encompass will help deliver greater efficiencies, strong compliance, loan quality and help us to wow our customers. We are currently rolling out the solution to our Retail channel, and we plan to have our entire organization, including Retention, Wholesale and Correspondent divisions on Ellie Mae’s Encompass.”ditech has embraced Ellie Mae’s software-as-a-service (SaaS) and Success-Based Pricing offerings. Ellie Mae’s Success-Based Pricing is tightly aligned to the client’s success in originating loans, allowing the company to pay for their software and services based on the number of loans they close every month. “For every company that sees technology as a purely defensive solution, there are others, like ditech, who view technology as a strategic opportunity to grow their business and market share,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We are pleased to be part of their growth strategies and look forward to helping them provide exceptional service for their customers.”