US-based software developer Ellie Mae has introduced a new version of its Encompass digital mortgage solution in a bid to streamline loan processing time.
The new release is designed to enable the all lenders, irrespective of their sizes, to originate more loans, facilitate compliance processes and reduce associated costs.
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The new Encompass digital mortgage solution features new enhancements to support Know Before You Owe 2 (KBYO2) rule changes, customisable TPO workflow, correspondent investor integrations as well as product and pricing enhancements.
Ellie Mae president and CEO Jonathan Corr said: “We’re offering complete digital mortgage solutions to help our customers succeed by enabling them to close more loans by increasing efficiencies, reduce the time to close by offering intelligent automation and reducing the cost to originate.
“With the 18.3 major release of Encompass we’re ensuring compliance with the upcoming Know Before You Owe guidelines and offering enhancements to our Connect solutions to help our lenders be more productive while growing their businesses.”
The customisable TPO workflow in the upgraded solution is designed to help the lenders and correspondent investors offer a swift user experience to the third party originators allowing them to process loans faster.
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By GlobalDataThe Encompass TPO Connect in the solution has been updated to adjust TPO website workflows, loan pipeline and reporting views.
Additionally, its correspondent investor integration feature aims to enhance turn time for lenders and help in investor purchase decisions.
Currently, the service is integrated with Caliber Home Loans, Flagstar Bank, Pacific Union Financial and Wells Fargo for swift loan delivery, with more such associations are expected soon.
