Ellie Mae's New Major Release Of Encompass All-in-One Mortgage Management Solution

Ellie Mae ® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, announced today that it has launched a new major release of Encompass, its all-in-one mortgage management solution. Encompass 17.3 enhancements help lenders of all sizes originate more loans, lower origination costs and shorten the time to close with efficiency, quality and compliance. Specifically, the new major release of Encompass includes additional updates for 2018 HMDA collection and reporting adding to the comprehensive functionality already released earlier this year, additional Construction Management capabilities, a streamlined user experience for FHA 203(k) loans, and correspondent and trade management improvements.

"We know that HMDA readiness is on everyone's mind and Ellie Mae is committed to helping our customers prepare with solutions, information and resources well in advance," said Jonathan Corr, president and CEO of Ellie Mae. "With this major release of Encompass, we're adding to applicant, property and loan feature data capture in support of HMDA. This comprehensive release offers technology to ensure complete compliance with changing regulation, as well as the innovative capabilities that enable our banks, credit unions and mortgage lenders to originate and fund more loans, lower origination costs and shorten the time to close."

Encompass 17.3 enhancements include:

2018 HMDA Collection and Reporting Updates

As the industry compliance leader, Ellie Mae is taking the most comprehensive approach by delivering solutions for lenders to be in complete compliance with the most automation and accuracy. Encompass 17.3 includes additional updates for 2018 HMDA collection and reporting. These include:
  • Repurchased Loans Support: Allows users to report on repurchased loan data without disrupting initial loan data records, saving time by working in one single system of record.
  • Demographic Data Updates: The ability to report on gender and identify applicant status to understand buyer trends and comply with the new regulation.

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