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Ellie Mae launches new version of Encompass

Encompass 16.2 features Freddie Mac's Loan Product Advisor

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Just as it said it would earlier this year, Ellie Mae is indeed bringing Freddie Mac’s Loan Product Advisor to Encompass, Ellie Mae’s mortgage management solution.

According to Ellie Mae, Freddie Mac’s new Loan Product Advisor will be included in Encompass 16.2, which is now available.

In a release, Ellie Mae said that it is first to the market with integrations into Freddie Mac’s new Loan Advisor Suite, a flexible, end-to-end loan delivery solution that Freddie Mac executives say can increase lender efficiency and provide earlier insight into representation and warranty relief.

“Loan Product Advisor is the next generation in the evolution of automated underwriting with a focus on further streamlining the underwriting process for greater efficiency,” Ellie Mae said in a release. 

“In addition, Encompass will offer integration with Freddie Mac’s Loan Quality Advisor, available to Freddie Mac sellers,” Ellie Mae continued. “The integration of Loan Quality Advisor, Freddie Mac’s risk and loan eligibility assessment tool, into Ellie Mae’s Encompass allows its customers to originate loans within Freddie Mac guidelines more easily and with greater certainty, taking immediate advantage of the new features Freddie Mac is bringing to market.”

Additionally, Ellie Mae said that Encompass 16.2 will soon offer enhanced capabilities for its Total Quality Loan program that gives customers access to “industry-leading services that streamline the loan review process, reduce costs and improve overall loan performance and profitability.”

Ellie Mae added that the new version of Encompass includes DataVerify’s DRIVE services, including fraud detection and 4506-T for income verification, and FraudGuard, First American Mortgage Solutions’ decision-support tool designed to quickly and accurately identify risk in mortgage transactions.

“Through these strategic partnerships, Ellie Mae offers customers greater choice with leading providers while providing consistent processes across the enterprise,” Ellie Mae said.

“The latest version of our Encompass all-in-one mortgage management solution will offer enhanced TQL capabilities, more customer choice with leading providers like First American Mortgage Solutions and DataVerify and updates to the Encompass Product and Pricing Service,” said Jonathan Corr, president and CEO of Ellie Mae.

“And with this new release of Encompass, Ellie Mae is first to market with our integration with the new Freddie Mac Loan Product Advisor and Loan Quality Advisor, key elements of Freddie Mac’s Loan Advisor Suite,” Corr added. “This release incorporates their tools directly into Encompass, offering our customers greater certainty and more streamlined workflow.”

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