Ellie Mae Earns Patent for ClickLoan Technology
Pleasanton, Calif.-based Ellie Mae said Wednesday that a technology enabling third party originators to submit loan applications and other related information directly from their loan origination systems into a lender's website had received at patent from the United States Patent and Trademark Office. The company's new patent on its ePASS ClickLoan technology represents the second patent approved in recent months, the company said in a press statement. Launched in 2002, ClickLoan enables loan originators to provide loan data and information for pre-qualifications, loan submissions, rate locks and ordering of settlement services, all directly from within the chosen lender’s website. It works by automatically identifying a loan application or its required information from within the originator’s LOS, and integrating that data or information directly into the lender’s site. ClickLoan is a feature of ePASS, Ellie Mae’s electronic information transfer platform; the company says it "can be integrated into any wholesale or correspondent lender’s existing website." Mortgage tech firms have long taken to patenting their work as a way to prevent subsequent "me-too" implementation of any firm's work to streamline the mortgage origination process. "We respect the intellectual property rights of others and will continue to seek protection for the innovations developed at Ellie Mae to protect our investment in research and development," said Limin Hu, chief technology officer. "This patent demonstrates our commitment to protecting our technological innovations and is part of our continuing effort to bring value to our shareholders and Ellie Mae as an organization.” Write to Paul Jackson.