Mortgage

Ellie Mae profit rises as lenders, brokers increase Encompass usage

Mortgage technology provider Ellie Mae Revenue per Encompass user shot up 45% over last year to $419 in 3Q.

The company’s profit  hit $6.8 million, or 25 cents a share, in the third quarter. That’s up from a profit of $2.7 million, or 12 cents a share, in the same quarter of last year.

Revenue also increased  87%, reaching $27.5 million in 3Q, up from $14.7 million last year.

The Pleasanton, Calif.-based company says revenue in the first nine months of the year shot up 96% to $71.9 million, which compares to $36.7 million a year earlier.

kpanchuk@housingwire.com

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