Ellie Mae Expands HELOC, Dynamic Data Management And Mortgage Insurance Support

Ellie Mae has launched a new major release of Ellie Mae’s Encompass digital mortgage solution. The latest release will help lenders of all sizes originate more loans, lower origination costs and shorten the time to close with compliance, efficiency and quality. Key highlights include enhanced HELOC support, Encompass Dynamic Data Management and Mortgage Insurance Support for the Ellie Mae Total Quality Loan Program.


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“Ellie Mae is offering a complete digital mortgage solution to help our customers succeed in today’s competitive marketplace,” said Jonathan Corr, president and CEO of Ellie Mae. “With this new release we’re offering innovation, enhancements and support so our lenders can grow their businesses with HELOCs, operate more efficiently using Encompass Dynamic Data Management, provide a more streamlined mortgage process with centralized service ordering, and achieve complete compliance.”

Key highlights for the Encompass 18.4 release include:

Enhancements for Expanded HELOC Support: The 18.4 release includes the first phase of a comprehensive solution expansion to streamline the application and underwriting of HELOC loans. To support the unique investor requirements for calculating HELOC payments, both initial and qualifying, Encompass now includes a set of configuration options for both, including support to calculate interest-only and amortizing payments on the basis of a selected rate, a fraction of principal balance, or a percentage of principal balance.


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Mortgage Insurance Service for Ellie Mae Total Quality Loan (TQL): Ellie Mae TQL leverages secure, single sign-on and necessary, best-of-breed services to automate processes, and applies quality checks throughout the mortgage lifecycle to reduce resource costs and operational friction. Enhanced integrations with Arch MI, MGIC and Radian offer a more streamlined mortgage insurance (MI) ordering process. Encompass MI Service gives customers automated ordering, side-by-side rate quote comparisons, and an automated allocation model. The new service also offers faster processing, increased visibility into order history, and the ability to monitor key data changes and alert Encompass users when to re-order a rate quote or MI certificate.

Encompass MI Service within Ellie Mae TQL improves operational efficiencies by allowing automated ordering and reduces manual steps needed such as re-authentication. Customers can reduce risk by monitoring material data changes in the loan file through a single source of record that maintains all transactions and communication inside of Encompass. Additionally, the process helps to ensure that the information is accurate, organized and securely transmitted.


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A New Way to Automate Data Entry: To increase productivity and enhance accuracy, Ellie Mae is releasing a new scenarios-based rule engine for Encompass designed to automate data entry across any form used during the loan origination process. The new engine, Encompass Dynamic Data Management, brings Ellie Mae one step closer to its vision of automating everything automatable in the mortgage industry and helps lenders deliver a digital mortgage experience to borrowers.

“Encompass Dynamic Data Management is an amazing new feature that provides Encompass Administrators an incredibly powerful set of tools for automating data input in Encompass,” said Adam Ard, Implementation and Development Lead, New American Funding.  “We are extremely excited for the release of Encompass Dynamic Data Management functionality because of the dramatic improvements it provides in flexibility, maintainability, visibility and control of systematic data automation.  This will greatly benefit companies of all sizes with its intuitive settings structure and seamless end user experience.”