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CORRECTING and REPLACING Ellie Mae Launches New Consumer Direct Solution for Lenders

Stocks in this article: ELLI

Sixth paragraph, fourth sentence should read: ...all data is stored in Ellie Mae’s highly secure SSAE-16 and SOC2 certified data centers and no data is stored on any device. (instead of ...in Ellie Mae’s highly secure SSAE-15...).

The corrected release reads:

ELLIE MAE LAUNCHES NEW CONSUMER DIRECT SOLUTION FOR LENDERS

Encompass Consumer Direct Provides Self-Service, 24/7 Online Access for Borrowers

Ellie Mae ® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today announced a new Consumer Direct solution for its Encompass® mortgage management solution.

Encompass Consumer Direct™ is a new self-service and lead-generation solution for lenders looking to enhance service and efficiency while catering to tech-savvy borrowers. Borrowers can access this highly secure web-based solution 24/7 to:

  • Research loan products and rates.
  • Apply for a loan through a guided, user-friendly interactive application.
  • Order and pay for credit reports.
  • Shop for loan programs and compare products and rates side-by-side.
  • Receive disclosures and online status updates about their loan from the lender.
  • Upload and electronically sign documents.

Encompass Consumer Direct takes the daunting task of applying for a mortgage and turns it into a guided step-by-step process that can take less than 15 minutes to complete. It also gives the borrower greater control and insight throughout the loan lifecycle.

Lenders can easily add their specific products using Encompass Product and Pricing Service™ and configure Encompass Consumer Direct to fit their business models. For instance, retail originators can forward completed loan applications to loan officers for follow-up and maintain the personal touch and one-on-one relationship with the consumer. Lenders can also incorporate their own branding to their consumer direct site and configure various modules to help consumers shop for and calculate loan costs, get more information about the lender, ask for assistance and finally apply for a loan.

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