Ellie Mae (ELLI) : In his third interview, Cramer also spoke with Jonathan Corr, CEO of Ellie Mae, the cloud-based software provider that services the mortgage industry. Shares of Ellie Mae are up over 60% so far this year.
Corr explained Ellie Mae provides the software that helps lenders go from the initial loan application through the underwriting process in an automated and seamless way. Mortgages are a complex business, he said, with many systems, tight timeframes and tremendous regulations.
Ellie Mae has growth rapidly over the past five years, Corr said, but is still in its early stages. Lenders don't want to be in the technology business, he said, they're looking for a partner that make them more efficient and compliant. That's how Ellie Mae has grown to 1,700 lenders and 200,000 users on its platform.
Cramer called Ellie Mae a good company that's positioned for the future.
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