LOS And Freddie Mac Partner

Ellie Mae and Freddie Mac will integrate components from Freddie Mac’s Loan Advisor Suite into Encompass, Ellie Mae’s all-in-one mortgage management solution. With a Congressionally mandated mission to provide liquidity, stability and affordability to the U.S. housing market, Freddie Mac buys mortgage loans and issues guaranteed mortgage-related securities. Here’s what this partnership will mean for lenders:

The companies will collaborate to further integrate Freddie Mac’s Loan Prospector and Loan Quality Advisor, Loan Advisor Suite’s automated underwriting and risk and loan eligibility tools, with Encompass to develop more efficient workflows for the mortgage industry. In addition, Ellie Mae and Freddie Mac will assess future integration opportunities as new Loan Advisor Suite components are introduced, like the recently announced Loan Collateral Advisor. The end result will allow Ellie Mae customers to originate loans within Freddie Mac guidelines more easily and with greater certainty.

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Freddie Mac’s Loan Advisor Suite is a set of integrated software applications being developed to give lenders a way to originate and deliver high quality mortgages to Freddie Mac and gain insight into representation and warranty relief earlier in the loan production process. Loan Advisor Suite will become available in 2016.

Ellie Mae’s Encompass solution enables banks, credit unions and mortgage lenders to create and fund mortgages in one system of record for compliance review, quality assurance and improved efficiency. Ellie Mae says that Encompass is used by more than 135,000 mortgage professionals and thousands of mortgage companies, including six of the 20 largest U.S. mortgage lenders.

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“At Ellie Mae, our mission is to provide our lenders with innovative solutions throughout the entire loan process while ensuring the highest level of compliance, loan quality and efficiency,” said Joe Terrell, executive vice president at Ellie Mae. “Through this partnership, we will make it even easier for our lenders to do business with Freddie Mac.”

“By working with Ellie Mae we will leverage our technological innovations and expertise to give our customers greater opportunities to become more efficient and competitive,” said executive vice president at Freddie Mac, Dave Lowman. “Our goal is to give America’s lenders a better way to originate loans that meet Freddie Mac guidelines more easily and with greater certainty. We look forward to partnering with Ellie Mae to help our customers succeed.”

About The Author


Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.