Ellie Mae ® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today that it has signed a definitive agreement to acquire AllRegs, a leading information provider for the mortgage industry. The acquisition of AllRegs expands Ellie Mae’s position as the industry’s market leader of mortgage technology, content and services.
AllRegs information management solutions are used by more than 3,000 companies representing every facet of mortgage banking: major lenders and investors, regulators, Federal and State agencies, brokers, mortgage services vendors and law firms. AllRegs product offerings include education and training, loan product and guideline data and analytics, and the AllRegs online reference library that includes investor underwriting and insuring guidelines, federal and state statutes and regulations, Mortgage Mentor “how to” guides and plain language interpretation and analysis.
"AllRegs has built a strong reputation as the industry’s source for investor guidelines, compliance resources and education,” said Sig Anderman, chief executive officer of Ellie Mae. “With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings. This strategic acquisition enhances Ellie Mae’s compliance leadership and furthers our goal to be the company that powers the entire mortgage industry.”
AllRegs extensive content library spans nearly every aspect of the mortgage industry. Relied upon by virtually all of the top 100 lenders in the country, AllRegs is the exclusive electronic publisher of underwriting and loan product guidelines for Fannie Mae, Freddie Mac, Wells Fargo Home Mortgage, Citigroup, JPMorgan Chase, the Federal Home Loan Bank of Chicago, U.S. Bank Home Mortgage and Flagstar Bank, N.A. First introduced in 1989 as a regulatory reference library, the AllRegs product menu has grown to also include:
- AllRegs Content Libraries, spanning nearly every aspect of the mortgage industry including underwriting and compliance guidelines such as AllRegs Investor Library, AllRegs Loan Library and AllRegs Mortgage Mentor Guides.
- AllRegs Academy, offering educational courses and certifications.
- AllRegs Business Practices group, which assists organizations with risk mitigation and regulatory compliance.
- AllRegs Compliance Management System, a comprehensive policy management and training solution.
- AllRegs Market Clarity, an online product database that compares 44 key loan product attributes of more than 3,000 products for 95 different investors.
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