Pleasanton, California-based Ellie Mae (ELLI), a mortgage solution provider, promoted Jonathan Corr to CEO, along with adding him as a member of the board of directors, effective Feb. 1.
Corr has been with Ellie Mae for 12 years, currently serving as president and chief operating officer of the company.
Although Sig Anderman, Ellie Mae’s CEO since founding the company in 1997, will step down from the position, he will continue to serve on its board of directors as executive chairman.
Anderman was profiled in HousingWire Magazine in March 2014, telling the story of how his company has become a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry.
“As president and COO, Jonathan has proven to be an outstanding leader and has been instrumental in the growth of the company,” said Sig Anderman. “I am pleased to pass the baton to Jonathan and amconfident in his ability to advance our leadership position in the mortgage technology industry.”
Corr commented on the news saying, “I have witnessed the transformation of our company from a start-up to an industry leader. I’m excited to assume this role and look forward to working with the Ellie Mae team to continue to execute our growth strategy.”
In its third-quarter earnings, Ellie Mae reported revenue of $42.8 million, compared to $33 million in the third quarter 2013.
“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.