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Ellie Mae Digital Lending Platform Innovation Supports Lenders During COVID-19 SituationPLEASANTON, Calif., April 2, 2020 /PRNewswire/ -- Ellie Mae®, the leading cloud-based loan origination platform provider for the mortgage industry, offers the following Ellie Mae Digital Lending Platform capabilities to support lenders during the evolving COVID-19 pandemic. "We recognize that in these unprecedented times, lenders are experiencing increased refinance loan volumes while contending with the need to support virtual workforces and consumer demand for online services," said Jonathan Corr, President and CEO of Ellie Mae. "With the Ellie Mae Digital Lending Platform, lenders can take advantage of Ellie Mae innovation as well as the capabilities provided by our robust network of partners who are speeding innovation and integrations to meet the changing demands." "From consumer engagement functionality and mobilizing loan officers to eClosing and homeowner-guided appraisals, mortgage technology can help lenders continue to manage workflow and processes in a seamless, digital manner. This is critical when in-person interaction is limited." Ellie Mae and the Ellie Mae Network of partners are responding by enabling lenders to take advantage of current and evolving technologies being built on the Ellie Mae Digital Lending Platform to decrease in person and/or manual interactions, such as accepting more appraisal waiver offers and doing electronic verifications of income, assets, employment, etc. In addition, new partner integrations and offerings can assist lenders with their capacity and virtual mortgage manufacturing needs. eClosing and Remote Online Notarization (RON): In today's environment, eClosings have become an important tool where one or more of the required closing documents are accessed, presented and signed electronically. Ellie Mae has added two new eClosing partners to our Platform and is excited to support GSE-announced support for RON in 42 states and the District of Columbia.
Electronic Verification of Employment, Income, and Assets: The GSEs and government agencies have created flexibility on the process to re-verify employment pre-closing including the ability to use bank statements to show a recent payroll deposit. In addition, they have tightened requirements on the timing in which income and employment verifications must be completed. Using electronic verifications saves time, limits borrower interaction, and ensures compliance with new requirements. New and updated partner integrations can help:
To get more detail on all the partner integrations being developed to support lenders during COVID-19 please visit the Ellie Mae Marketplace. Ellie Mae capabilities included with lenders' Platform investment include: Encompass Consumer Connect®: Consumer Connect is Ellie Mae's point-of-sale solution which enables borrowers to easily complete an online mortgage application with zero in-person interaction, verify income, employment, and assets directly from the source, instantly engage with their loan officer, and securely upload and eSign documents, making it faster and less expensive for a lender to process a loan. Encompass LO Connect®: The Encompass mobile solution for LOs on the go, LO Connect gives loan officers secure, real-time access to Encompass from any mobile device. In this virtual environment, loan officers can access to move loans forward while offering a connection to agents, referral partners, credit reporting agencies and underwriters. Encompass Investor Connect®: Investor Connect establishes secure system-to-system workflows between lenders and correspondent investors, ensuring streamlined delivery of accurate, compliant loan data and docs. To help reduce review and purchase times, Investors are encouraging Ellie Mae lenders to utilize Investor Connect to deliver their closed loan data and document images due to capacity issues. To receive updates and resources to help lender business continuity through the COVID-19 pandemic, visit: https://explore.elliemae.com/covid-19 About Ellie Mae © 2020 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Velocify®, Capsilon®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
View original content to download multimedia:http://www.prnewswire.com/news-releases/ellie-mae-digital-lending-platform-innovation-supports-lenders-during-covid-19-situation-301033985.html SOURCE Ellie Mae |