Lending

Ellie Mae launches Encompass lending platform and Connect suite of solutions

TPO Connect designed to optimize wholesale and correspondent channels

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Ellie Mae launched its Encompass Lending Platform and a suite of Connect solutions today, allowing customers, partners and independent software vendors to integrate Encompass with external systems and data and build custom applications in the cloud. 

"Today’s launch of the Ellie Mae Encompass Lending Platform puts more power into the hands of our customers, partners and developers, enabling them to rapidly extend, integrate, and build new capabilities with Encompass that serve to differentiate and grow their businesses,” said Jonathan Corr, president and CEO of Ellie Mae. “The Encompass Lending Platform helps us deliver on our mission of automating everything automatable in residential mortgages. It’s a giant step forward for the mortgage industry.”

Ellie Mae’s Encompass Connect solutions give lenders the ability to design custom solutions fast, building on the Encompass capabilities they already have. The Connect solutions will be rolled out in the coming months, starting with Encompass TPO Connect, which is available immediately.

"Lenders see opportunities every day where they could build on top of solutions we provide," said Joe Tyrrell, executive vice president at Ellie Mae. "By taking a platform approach we've unlocked the opportunity for them to use APIs to take advantage of those opportunities to build out solutions quickly."

The new solutions include:

• Encompass TPO (Third Party Originator) Connect – Offers wholesale and correspondent lenders a collaborative web experience for their TPO partners that promotes compliance, data integrity, and easy sharing of data and documents, as well as bi-directional communication throughout the loan process.

• Encompass Loan Officer Connect – Provides a fast way for loan officers to originate and track the progress of loans securely and instantly from any device, including mobile phones.

• Encompass Consumer Connect – Enables lenders to deliver a state-of-the-art self-service online loan origination experience for homebuyers that lenders completely control and can easily create.

• Encompass Developer Connect – Provides developers with APIs, tools and a comprehensive developer portal they can use to create new features for Encompass, easily integrate Encompass with external systems and data, and build and deploy custom applications in the cloud. Available in the first quarter of 2017.

The new Connect solutions address four main opportunity areas for lenders, with more to come from Ellie Mae. The company's decision to create an open platform was a deliberate part of its strategy to empower lenders, Tyrrell said. 

"Our mission as a company is to automate the mortgage process, and we want to be very inclusive in how we think about innovation," Tyrrell said. "Giving front line-lenders the tools they need will help us realize that goal. By making the platform open, we are really driving the entire industry to automate these processes, which will benefit of the consumer by making the process better, faster and more transparent. The only way to truly be open is to have an open platform."

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