Profile: Ellie Mae Inc (ELLI.K)
5 Feb 2016
Ellie Mae, Inc. (Ellie Mae), incorporated on October 14, 2009, is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages.
The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network, an electronic platform that allows Encompass users to conduct electronic business transactions with investors and service providers they work with in order to process and fund loans. As of December 31, 2014, the Ellie Mae Network electronically connects approximately 109,000 mortgage professionals using Encompass to a range of mortgage lenders, investors and third-party service providers integral to the origination and funding of residential mortgages.
For mortgage originators, Encompass is a mortgage management system that handles key business and management functions involved in running a mortgage origination business. Mortgage originators use Encompass as a single tool for loan processing, marketing, customer communication and to interact electronically with lenders, investors and service providers over the Ellie Mae Network. The Company also offers Encompass users a variety of other on-demand software services, including Encompass Compliance Service, which automatically checks for compliance with federal, state and local regulations throughout the origination process; Encompass Docs Solution, which automatically prepares the disclosure and closing documents necessary to fund a mortgage; Encompass CenterWise, a bundled offering of electronic document management (EDM), and Websites used for customer relationship management; Total Quality Loan (TQL), which offers a suite of fraud detection, valuation, validation and risk analysis services; Total Quality Loan (TQL), which offers fraud detection, valuation, validation and risk analysis services; tax transcript services , which provide income verification capability; services for ordering and managing appraisals; Encompass CRM, a suite of tools for managing contacts, leads and marketing campaigns; Encompass Product and Pricing Service, which allows Encompass users to compare loans offered by different lenders and investors to determine appropriate mortgage programs available to a particular borrower; Encompass Flood Service, which allows Encompass users to order and transfer flood zone certifications, and services under the AllRegs brand, which include research and reference, education, documentation and data and analytics products relating to the mortgage industry.
For the lenders, investors and service providers on the Ellie Mae Network, the Company provides electronic connectivity that allows doing business with a percentage of the mortgage origination professionals in the United States. Mortgage originators pay for SaaS Encompass in one of two models: recurring monthly subscription fees or monthly fees -based on the number of licensed users and mortgages funded. The Company’s additional services are paid on a subscription or transaction basis. Lenders and service providers participating in the Ellie Mae Network also pay fees, generally on a per transaction basis, for transactions processed through the Ellie Mae Network from Encompass users.
Under the AllRegs brand, the Company’s research and reference products include single and multifamily underwriting and insuring guidelines, as well as libraries of federal and state laws and regulations. The Company is also an electronic publisher of the Fannie Mae and Freddie Mac Single and Multi-Family Seller/Servicer Guides and The Federal Home Loan Banks’ MPF Program Guidelines. The Company’s educational division, AllRegs Academy, offers courses related to the mortgage industry, including self-paced training, instructor-led online courses, Webinars or live classroom training and certified continuing education classes for state licensed mortgage originators. In addition, through the AllRegs brand, the Company offers documentation and learning management solutions.
The Company competes with CBCInnovis, Calyx Technology, Inc., DH Corporation, Altisource Portfolio Solutions SA, Fidelity National Financial, Inc., Accenture PLC, Wipro, Ltd. and Calyx Technology, Inc.
Ellie Mae Inc
4420 Rosewood Drive, Suite 500
PLEASANTON CA 94588