Ellie Mae’s Encompass360 Mortgage Management Software Selected By Union Mortgage Group

Ellie Mae ® (NYSE:ELLI), a leading provider of enterprise level, on-demand automated solutions for the residential mortgage industry, today announced that Union Mortgage Group, Richmond, Va., a non-bank affiliate of Union First Market Bankshares (NASDAQ:UBSH), has selected Encompass360 ® as its mortgage management solution.

Union Mortgage Group is a retail mortgage lender that operates in Maryland, North Carolina, South Carolina and Virginia and originates more than $1 billion in mortgages annually. The company was using multiple solutions and evaluated loan origination systems (LOSs) for six months before ultimately selecting Encompass360 for its end-to-end capabilities.

“We wanted an LOS that was fully integrated and had automated compliance so we could focus more time on our customers. When we saw the demonstration of Encompass360, the system sold itself,” said Rob Eastep, president and chief executive officer of Union Mortgage Group. “We’ve started the implementation and expect significant improvements in our day-to-day operational efficiency and customer service once the system is fully operational.”

Union Mortgage Group is utilizing Encompass360 and its integrated Encompass Compliance Service™ through Ellie Mae’s Success-Based Pricing model. This allows the company to pay for their software and services based on the number of loans they close every month.

“Increasingly, mortgage lenders are looking for end-to-end solutions to replace multiple systems that have been cobbled together and that are costing them time and money,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We’re pleased to help lenders like Union Mortgage Group improve their workflow and increase productivity and profits.”

About Union First Market Bankshares Corporation

Headquartered in Richmond, Virginia, Union First Market Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union First Market Bank, which has 90 branches and more than 150 ATMs throughout Virginia. Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products. Union First Market Bank also owns a non-controlling interest in Johnson Mortgage Company, L.L.C.

If you liked this article you might like

Time to Raise Some Cash: Cramer's 'Mad Money' Recap (Tuesday 8/1/17)

Market Recon: This Barbarous Relic Has Been Seriously Hot Lately

Jim Cramer's Top Takeaways: MGM Resorts, Lululemon, Elli Mae, Ollie's Bargain Outlet

Jim Cramer's 'Mad Money' Recap: How the 'Trump Effect' Has Spurred Stocks

Analysts' Actions -- Freeport, First Solar, Lowe's, Urban Outfitters and More