By Tony Garritano
What’s going on in the mortgage market? What trends should you be aware of? Tony tells you in this daily column.

Market Analysis: Security Concerns About SaaS Persist

*Security Concerns About SaaS Persist*
**By Tony Garritano**

***As lenders embrace Software as a Service, security concerns arise. Is it safe? What about how it will protect sensitive information? The truth is that SaaS is safe. As proof, there are certificates that can ensure a level of security that all lenders should ask for. For example, PROGRESS has learned that IndiSoft, a technology development firm that provides software as a service (SaaS) solutions based on a collaborative rules-based workflow platform for the financial services industry, has achieved the ISO 27001:2005 Information Security Management System Standard. Here’s the scoop on this standard certificate:

****This certification verifies IndiSoft’s practices for software development, licensing as well as support services and will give its U.S. clients added assurance that they are working with a company that operates using well-established, reputable principles. The ISO 27001:2005 ISMS Standard is a series of documents established by the International Organization for Standardization (ISO), the world’s largest developer of international standards.

****“We have always believed in a process-driven approach, and this certification provides our clients with a level of assurance in our operations, as well as confidence in our existing systems and their alignment with international work practices and standards,” said Sanjeev Dahiwadkar, president and CEO of IndiSoft. “Our technology delivers transparency in auditing processes and ensures compliance for our clients. This accreditation is an acknowledgement of our systematic approach to managing their secure information.”

****ISO is a network of the national standards institutes for 162 countries and created the standard to set international requirements for quality management systems. Adopted today by more than 80 countries, the ISO /IEC 27001:2005 ISMS provides a management framework for continuing conformance to information security systems.

****So dot the Is and cross the Ts when looking into SaaS vendors, but don’t shy away from this delivery model, it could work for you.

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.

Market Analysis: Another Great Story

*Another Great Story*
**By Tony Garritano**

***I like to spotlight companies in our space that are giving back. I think community service is important. This time PROGRESS in Lending has learned that Ellie Mae has said that its volunteer, employee-run community outreach program, EllieCares, continued to grow stronger in 2011 and will be expanded to its regional offices in 2012. Here’s the scoop:

****EllieCares is run entirely by Ellie Mae employee-volunteers. A committee of Ellie Mae employees selects both local and national organizations that will be beneficiaries of the employees’ fundraising and outreach activities. Ellie Mae supports EllieCares by giving employees time off with pay for participating in these volunteer activities and matching employee-raised contributions.

****Some of EllieCares’ initiatives in the past three years have included:

****>> Fulfilling the holiday wishes of needy children through the Family Giving Tree;

****>> Hosting the annual Ellie Mae Marketplace fundraiser for the Alameda County Community Food Bank, as well as supporting food drives and volunteer workdays during the year;

****>> Building homes with Habitat for Humanity East Bay;

****>> Helping to staff the Walk for Wishes fundraiser for the Make-A-Wish Foundation, Bay Area Chapter, in California;

****>> Preparing and serving meals to homeless and needy members of the community with City Team Oakland;

****>> Painting transitional housing for families for the Family Emergency Shelter Coalition;

****>> Giving blood donations to the American Red Cross Bay Area Chapter;

****>> Creating and selling earthquake-preparedness kits to raise money for the American Red Cross Haiti Relief and Development Fund.

****“Giving back is part of our heritage and our culture. Ellie Mae team members are passionate about helping people in need and making a difference in our community,” said Sig Anderman, Chief Executive Officer of Ellie Mae. “In the past few years, our volunteers have raised thousands of dollars for worthy charities and brightened the holidays for many children in our community. I am proud of the success of EllieCares and am excited to see it do even more in 2012.”

****Kudos to Ellie Mae and others in our space that take the time to give back.

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.

Market Analysis: An Interesting Trend

*An Interesting Trend*
**By Tony Garritano**

***People tell me a lot of things. I have a lot of close friends in this industry. And when I can I try to share it with you. Today I heard that Mortech, a mortgage technology software company specializing in solutions for mortgage bankers and secondary market teams, have identified a trend involving more mid-tier lending institutions moving into the correspondent lending channel and seeking out suitable automation to make their new divisions profitable from day one. Here’s what they are seeing:

****“With some of the nation’s largest banks exiting the correspondent lending business, there is more opportunity for lenders of all sizes, but many don’t have the technology,” said Don Kracl, president of Mortech. “Those firms that can come up to speed quickly and have an opportunity to gain significant market share in the first quarter of 2012, but they have to take action before others move in to fill the gap.”

****Mortech executives became aware of the trend when inquiries for the firm’s MarksmanLMP ticked up in the wake of Bank of America’s announcement to discontinue its correspondent channel. MarksmanLMP offers a Channel Manager product for mortgage bankers with third party origination businesses. Mortgage professionals can use the Channel Manager service to distribute correspondent pricing to their clients, deliver fully-adjusted rates, use as a locking platform and several other features. Numerous correspondent lenders already count on Mortech software for lending automation.

****“Our most recent build added new features designed for ease-of-use and seamless interactions between lenders and their correspondents,” said Kracl. “We are excited for our clients and are standing by with the technology they need to capitalize on these new opportunities.”

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.

Market Analysis: Look At The Landscape

*Look At The Landscape*
**By Tony Garritano**

***Excuse me today my friends. I’m a bit tired. I was up until 3 a.m. waiting for the results of the Iowa Caucus. My friends know that I’m a political junkie. What happened yesterday in my view was amazing. A conservative state voted for a candidate that didn’t match their ideals absolutely. Why did they do that? Because Iowans realized that it’s not about who is the most conservative, it’s about who can save our country from the failed policies of this White House. Kudos to Iowans for reassessing the landscape and taking a second look to pick the most electable, and competent, candidate. Similarly, prominent mortgage technology vendors are always reassessing the best way to serve this ever-changing mortgage market. For example, PROGRESS in Lending has learned that Franklin, Tenn.-based Wipro Gallagher Solutions has redefined its fulfillment offerings to more clearly meet the demands of loan originators and servicers for middle- and top-tier lenders. What does that mean? Here’s the scoop:

****For originators, WGS has revised its BPO offerings depending on the lender’s volume of originations and service offerings. WGS now offers originators its services through the following packages:

****>> Platform BPO Fulfillment Solution– offers an end-to-end mortgage origination fulfillment solution including all services from the point of application. Utilizing shared resources and technology based out of the Nashville Delivery Center.

****>> Integrated BPO Solution– tailored to meet the client’s specific needs and is inclusive of support-functions in the areas of loan processing, loan underwriting analysis, closing, funding coordination and post-closing delivery. The delivery staff works within the client’s existing technology and workflow process.

****>> Traditional BPO Solution – provides support for lenders on full functions within the loan process such as processing or post closing or sub-functions of these roles. Clients provide the standard loan lifecycle processing functions while WGS’ global team provides integrated back-office support. Work is performed based upon client-specific processes and procedures.

****For loan servicers, WGS now offers the following product suites tailored to fit their needs:

****>> Complete Subservicing Offering– supplies a complete private-label solution in partnership with a leading U.S.-based sub-servicer. This end-to-end offering enables significant per loan cost savings to each client.

****>> Back Office BPO Solution– supports full functions within the servicing stream including payment processing, reconciliations, loan modification, loss mitigation, and more. The delivery staff works within servicer’s existing technology and workflow process.

****“Wipro Gallagher Solutions has reorganized its private-label BPO offerings into packages that are simple to understand and are tailored to specific markets,” said Narayan Bharadwaji, business head for WGS. “The new packaging better serves our customers to fit their specialized needs and provides more flexibility to enable our customers to focus on their core business and target markets.”

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.

Market Analysis: What’s Going To Happen In 2012?

*What’s Going To Happen In 2012?*
**By Tony Garritano**

***I know we all want to know what’s going to happen in our business this year. There are a lot of uncertainties for sure. However, we’ll face them and overcome them, I’m sure. I know that today is a light day. Everyone is just getting back over the holidays. So, I thought I’d keep it light here in my column as well by starting off 2012 with some predictions. Here goes:

****Yesterday a good friend to PROGRESS in Lending, David Lykken invited us on his weekly radio show. Myself, Roger Gudobba, Michael Hammond, Kelly Purcell and Gabe Minton talked about all things technology in 2012. Listen to what we all had to say:

Listen to internet radio with David Lykken on Blog Talk Radio

****Being part of the Lykken on Lending Radio Show each week is real treat for me. I love doing it. I hope you found this edition of the radio show helpful and I hope that you’ll tune in every Monday at 1 p.m. est. It’s a great industry resource.

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.

Market Analysis: Compliance Remains Paramount

*Compliance Remains Paramount*
**By Tony Garritano**

***Are you frazzled dealing with all the new rules and regulations? Aren’t we all? In most cases, it’s the job of your vendors to keep you compliant. And the good ones are doing just that. Fior example, PROGRESS in Lending has learned that LOS Avista Solutions has completed a direct integration to ComplianceAnalyzer, an automated compliance auditing solution from risk management solution company ComplianceEase. Here’s the scoop:

****Avista Solutions and ComplianceEase have a number of mutual customers and this integration allows those customers to access the ComplianceAnalyzer solution directly from their Avista Agile LOS.

****ComplianceAnalyzer gives mortgage lenders real-time compliance audits at any point in the lending process, safeguarding them from potential loan risks. As part of recent electronic examination (e-Exam) initiatives, state regulators have been using ComplianceAnalyzer and other e-Exam tools to audit as much as 100% of licensees’ loans in regulatory examinations. By leveraging integrated audits using the same auditing software, lenders can prepare in advance for their e-Exams. ComplianceAnalyzer covers a full spectrum of government regulations, including the Home Ownership and Equity Protection Act, the Truth in Lending Act, RESPA, state and local anti-predatory lending laws, state license-based consumer lending regulations and secondary market investor and GSE compliance guidelines.

****“Avista Solutions recognizes the importance of providing our customers with access to industry leading compliance tools,” Avista Solutions COO & CFO Jerry White said. “As the company behind robust tools that state banking and mortgage regulators rely on, ComplianceEase is a significant force in the mortgage industry and we are excited to now offer a seamless, system-to-system interface to their ComplianceAnalyzer solution.”

****Avista customers who choose to sign up for ComplianceAnalyzer may utilize the tool to pinpoint a mortgage loan’s compliance risk factors, whether the loan is in the pre-close or post-close stage, with a single click and without leaving their Avista Agile LOS. ComplianceAnalyzer returns comprehensive, user-friendly audit reports to lenders within seconds. Each report features the industry standard RiskIndicator, a score that reflects a loan’s compliance risk, as well as quantitative analysis of thresholds and detailed qualitative overviews with narrative descriptions of regulatory requirements.

****“Avista users can enjoy the best of both worlds with this seamless integration, continuing to use their LOS of choice, while managing compliance with ComplianceAnalyzer,” said ComplianceEase Senior Vice President Jason Roth. “Major secondary market investors use ComplianceAnalyzer to check every loan prior to purchase and state regulatory examiners are using it to audit as much as 100% of licensees’ portfolios. To safeguard their reputations and reduce financial risks, it makes a lot of sense for lenders to do the same.”

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.

Market Analysis: A Time For Giving

*A Time For Giving*
**By Tony Garritano**

***This is certainly the time for giving. I challenge everyone reading this to think about how they can give back to their family, to their community, to mortgage lending. In this vein, PROGRESS in Lending has learned that to support the Marine Toys for Tots Foundation during the organization’s annual holiday collection campaign, Nationwide Title Clearing (NTC) hosted a toy drop-off at its Palm Harbor offices. This is the second year NTC has served as a collection center for Toys for Tots.

****Employees of the mortgage post-closing services provider and members of the community were invited to bring new, unwrapped toys to NTC’s offices, where the gifts were picked up by a local Toys for Tots representative last week in preparation for distribution to underprivileged children throughout Tampa Bay. In addition to the gifts contributed by employees and area residents, Nationwide Title Clearing also donated toys to the cause. Through combined efforts, the drive collected more than 200 toys.

****The Marine Toys for Tots Foundation is an IRS-recognized 501(C)(3) not-for-profit public charity, which serves as the fundraising, funding and support organization for the U.S. Marine Corps Reserve Toys for Tots Program. As stated by the organization, the goal of the program is “to deliver, through a shiny new toy at Christmas, a message of hope to needy youngsters that will motivate them to grow into responsible, productive, patriotic citizens and community leaders.”

****John Hillman, CEO of Nationwide Title Clearing, noted that NTC shares that commitment to supporting deserving children and families. In addition to the company’s participation in the annual Toys for Tots campaign, NTC has also been involved in other community relief efforts, including last year’s participation in the Homeless Emergency Project (HEP) in Clearwater. NTC employees and management collected items of necessity that were donated to homeless individuals, along with clothing and household goods that were sold through the HEP Thrift Store to raise funds for the organization’s charitable programs. Many NTC personnel have continued the help into this year by volunteering their time to assist in the HEP kitchens, which serve shelter residents in the local area. Other recent NTC projects include collecting used video games and gaming equipment on behalf of a local charity that donates the items to hospitalized children.

****While NTC’s clientele in the residential mortgage banking industry are located throughout the country, Hillman explained that the company’s corporate culture is focused on giving back to the community in which the organization and its employees reside. “All of us at Nationwide Title Clearing – from senior-level management to our professionals and support staff – believe it is important to stay grounded in the local community. We’re committed to lending our support to those in unfortunate circumstances and helping them attain a better quality of life,” he asserted. “I believe that philanthropy leads to prosperity; so by helping others in the community, we can make life in the Tampa Bay area better for everyone.”

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.

Market Analysis: UCDP Integration Doesn’t Have To Be Hard

*UCDP Integration Doesn’t Have To Be Hard*
**By Tony Garritano**

***Many are worried about the new appraisal delivery transition, but it doesn’t have to be hard. Vendors and AMCs are there to help. For example, InHouse Inc., a provider of appraisal technology for banks, lenders, credit unions and other mortgage originators, is successfully integrating lenders and appraisal management companies (AMCs) to the Uniform Collateral Data Portal (UCDP) in a matter of a few weeks, and without the long term contract required by many others.

****“InHouse is helping lenders connect and deliver appraisals electronically to the portal in record time,” asserts Jennifer Creech, president and chief executive officer of InHouse. ”We can help lenders and AMCs integrate to UCDP in about half the time it would take them to do a manual interface with the GSE website, or in two to three weeks,” Creech added.

****As part of the new GSE appraisal submission requirements, appraisals must be supplied in MISMO XML format or as a first-generation PDF.  InHouse’s Connexions technology can easily convert first-generation PDFs into the MISMO format for faster submissions. In addition, Connexions validates the compliance and tracks the status of all appraisals.

****Lenders and vendors can choose between 26 providers when it comes to integrating to UCDP, though InHouse is one of only 13 providers offering access to the UCDP directly, versus through the GSE’s web-based interface, which requires a more time-consuming integration project.

****AMCs, loan origination systems and lenders seeking access to the UCDP directly may leverage InHouse’s integration and electronically submit appraisals to the GSEs. Doing so eliminates the manual upload process in the user interface. InHouse is offering a very competitive one-time integration fee of $5,000 without a long term commitment, and a per transaction fee of $2.00.

****All AMCs, appraisers and lenders on the InHouse Connexions platform are able to submit appraisals to the GSEs in accordance with the new appraisal submission standards in effect for loans originated after December 1, 2011 and delivered on or after March 19, 2012.

****Partnering with InHouse for direct access to the UCDP gives lenders and AMCs a much more efficient option, Creech said. “The integration time is reduced to two to three weeks, and it’s very cost-effective for the lender or AMC compared to packages offered by competitors. “There’s no need to code to the complicated UCDP specs. Lenders and AMCs only need to send a MISMO file through, and InHouse takes care of the rest,” she added.

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.

Market Analysis: What Do We Really Know About Shadow Inventory?

*What Do We Really Know About Shadow Inventory?*
**By Tony Garritano**

***Estimates about how large the shadow inventory is and how long it will take to dispose of vary. What we know for sure is that the inventory is huge and it will put a crimp in industry recovery for some time. PROGRESS in Lending has learned that according to CoreLogic, the current residential shadow inventory as of October 2011 remained at 1.6 million units, representing a supply of 5 months. This was down from October 2010, when shadow inventory stood at 1.9 million units, or 7-months’ supply, but approximately the same level as reported in July 2011.  Currently, the flow of new seriously delinquent loans into the shadow inventory has been offset by the roughly equal flow of distressed (short and real estate owned) sales. Here’s what else the CoreLogic research revealed:

****CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of distressed properties not currently listed on multiple listing services (MLSs) that are seriously delinquent (90 days or more), in foreclosure and real estate owned (REO) by lenders. Transition rates of “delinquency to foreclosure” and “foreclosure to REO” are used to identify the currently distressed non-listed properties most likely to become REO properties. Properties that are not yet delinquent but may become delinquent in the future are not included in the estimate of the current shadow inventory. Shadow inventory is typically not included in the official metrics of unsold inventory.

****Data Highlights:

****>> As of October 2011, shadow inventory remained at 1.6 million units, or 5-months’ supply and represented half of the 3 million properties currently seriously delinquent, in foreclosure or in REO.

****>> Of the 1.6 million properties currently in the shadow inventory (Figures 1 and 2), 770,000 units are seriously delinquent (2.5-months’ supply), 430,000 are in some stage of foreclosure (1.4-months’ supply) and 370,000 are already in REO (1.2-months’ supply).

****>> Florida, California and Illinois account for more than a third of the shadow inventory. The top six states, which would also include New York, Texas and New Jersey, account for half of the shadow inventory.

****>> The shadow inventory is approximately four times higher than its low point (380,000 properties) at the peak of the housing bubble in mid-2006.  A healthy housing market should have less than one-month’s supply of shadow inventory, which would be an easily absorbed stock of distressed assets with little or no discernable impact on house prices, unless the inventory was geographically concentrated.

****>> Despite 3 million distressed sales since January 2009, a period when home prices were declining at their fastest rate, the shadow inventory in October 2011 is at the same level as January 2009.

****>> Because shadow inventory is often concentrated in suburban and exurban submarkets, where distressed sales compete with new construction sales, it is one of the reasons why new home sales continue to be weak. In normal times, new home sales account for 12 percent of all sales, but they are currently running at 7 percent of all sales.

****>> Based on current estimates of the visible inventory (both distressed and non-distressed), the shadow inventory is approximately half of all visible inventory listings. For every two homes available for sale, there is one home in the “shadows” (Figure 3).

****“The shadow inventory overhang is a large impediment to the improvement in the housing market because it puts downward pressure on home prices, which hurts home sales and building activity while encouraging strategic defaults,” said Mark Fleming, chief economist for CoreLogic.

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.

Market Analysis: Ellie Mae Isn’t Wasting Any Time

*Ellie Mae Is Wasting No Time*
**By Tony Garritano**

***Usually when a technology vendor acquires another vendor you see a slow transition whereby eventually one product becomes more robust and the other is grandfathered. However, Ellie Mase is getting to work fast on making the most out of its acquisition of DataTrac. PROGRESS has learned Ellie Mae’s second major release of its Encompass360 mortgage management solution is now live. This release contains new functionality and enhancements designed to further increase compliance, efficiency and ease of use. It also introduces Encompass Originator, an integrated front-end technology solution specifically for users of DataTrac mortgage software. Here’s the scoop:

****The upgrade’s major enhancements include:

****>> Functionalities for complying with the new data delivery requirements, including the Uniform Loan Delivery Dataset (ULDD) and Uniform Collateral Data Portal (UCDP)

****>> Integration with DataTrac, through Encompass Originator

****>> New secondary marketing functionalities for Encompass360 Banker Edition clients

****>> New document recognition functionality with bar coding for all e-disclosure and closing documents

****>> New and expanded status online communications options

****>> Ability to process borrower credit cards in the appraisal solution center

****>> Numerous additional client-requested enhancements

****Encompass360 now supports ULDD requirements, enabling users to export one or more loan files to be submitted to the GSEs. The new UCDP service, which uses an integrated systems interface to the GSEs’ UCDP, allows users to submit electronic appraisal data files, receive status and findings, correct and modify appraisal file submissions, and request overrides should an appraisal not be accepted by the UCDP.

****This upgrade’s trade management and secondary marketing enhancements enable more flexibility with detailed viewing and tracking of mortgage-backed securities and assignment of trades. Rate lock and secondary registration enhancements include lock extensions and expanded functionality for buy side profit and price concessions.

****Among the many additional upgrades are enhancements to Encompass360’s electronic document management capabilities, which include additional bar coding, destination scanning from network scanners to eFolders, and eSigning of non-disclosure documents. New status online communications now further support and extend clients’ brands by enabling consistency and structure across outbound communications to borrowers and partners. Numerous compliance-focused changes have also been made to support USDA loans, and changes have been made to the HUD-1, the statement of denial, and other forms.

****Further, Encompass Originator provides single-click access between Encompass360 and DataTrac, creating a front-end/back-end origination solution built on the two technologies. With this integration, users of both solutions can now easily submit loans directly from Encompass360 to DataTrac, without having to re-key, import or export any data.

****Encompass Originator includes all of Encompass360’s front-end capabilities, including all the new upgrade enhancements. Now DataTrac clients can have access to Encompass CenterWise, Ellie Mae’s secure web and electronic document management service; a secure e-folder for paper-free document signing and exchange; numerous integrations with third party solution providers; easy-access customizable pipeline views; HUD integration; powerful tracking and alert systems; built-in compliance management tools designed to enhance RESPA and MDIA compliance; appraisal ordering and management, customer relationship management and more, all from the same company.

****“The industry’s changing regulations and procedures are putting a lot of new demands on lenders, and this upgrade provides the tools to respond to many of those demands, whether from regulators or investors,” said Jonathan Corr, COO of Ellie Mae. “At Ellie Mae, our clients feel comfortable about voicing their needs because they know we take action. This upgrade reflects the changing needs of our clients, while continuing our mission to build the most streamlined, easy-to-use technology for transacting the highest quality loans.”

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.