Ellie Mae is promoting two of its own into executive vice president roles. The company announced this week that it is promoting Cathleen Schreiner Gates to executive vice president of sales and marketing and Joseph Tyrrell to executive vice president of corporate strategy.
Ellie Mae understands the value of anticipating regulatory changes, instead of only reacting to them. Several company representatives sit on industry and regulatory panels and are part of the process when many new rules and regulations are formed. Ellie Mae is closely involved with the Mortgage Bankers Association, the Consumer Financial Protection Bureau and the Mortgage Industry Standards Maintenance Organization.
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry.
Ellie Mae released AllRegs Market Clarity 3.0, a new version of its business information tool, which includes a new user interface that lets users compare and contrast more than 3,000 loan products from 95 different investors.
“Revenue grew 30% over last year’s third quarter to a record $42.8 million, despite a 27% decline in industry mortgage origination volume, and our active user base crossed the 100,000 mark for the first time,” said Sig Anderman, CEO of Ellie Mae.
“Arch MI is very pleased to partner with Ellie Mae to offer our customers full integration with their Encompass platform,” said Chris Hovey, executive vice president and chief operations officer at Arch MI. “Our integration with Encompass enables our customers to simplify the process of ordering mortgage insurance with Arch MI.”
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine..
The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves. Read More
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject. Read More