Mortgage software firm Ellie Mae and mortgage insurer Essent Guaranty are working together to provide lenders with Encompass360, a faster and more efficient way to order mortgage insurance, check eligibility and obtain rate quotes.

The mortgage management software will reduce time and simplify the process for Essent to provide mortgage insurance coverage, along with allowing lenders to underwrite mortgage loans based on Essent's mortgage insurance guidelines.

Meanwhile, Essent's customers will have all the information needed to fill out the required mortgage insurance fields and receive a rate quote or commitment for mortgage insurance.

"Partnering with a market share leader like Ellie Mae will help more of our clients reduce duplicate data entries and speed up mortgage loan processing," said Bill Kaiser, Essent's chief operations officer.

Richard Roof, senior vice president of business development at Ellie Mae, added, "We are pleased to be working with Essent, and believe this advanced integration will help expedite the MI ordering process for our joint clients."