Profile: Ellie Mae Inc (ELLI.K)
2 Dec 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 all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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. The Ellie Mae Network electronically connects approximately 136,000 mortgage professionals used Encompass for their mortgage management solution.
For mortgage originators use Encompass as a single tool for loan processing, marketing, and customer communication and to interact electronically with lenders, investors, and service providers over the Ellie Mae Network. The Company also offer Encompass users various other on-demand software services, including Encompass CenterWise, which is a bundled offering of electronic document management (EDM) and Websites used for customer relationship management, such as Encompass WebCenter and Encompass TPO WebCenter; 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 CRM offers a suite of sales and marketing 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; Encompass Consumer Direct, a Web-based tool that allows borrowers to complete a loan application online; Total Quality Loan (TQL), offering include Encompass Fraud Service, which enables fraud detection, valuation, validation, and risk analysis services using streamlined workflows and processing rules; Encompass 4506-T, a tax transcript service, which provide income verification capability to its customers; and Encompass Appraisal Service, a service for ordering and managing appraisals; and content and services under its 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's Additional solutions offered within its on-demand platform include the Ellie Mae Total Quality Loan Program, Encompass CenterWise, Encompass TPO WebCenter, Encompass Docs Solution, Encompass Compliance Service, Encompass Product and Pricing Service, Encompass 4506-T Service, Encompass Appraisal Service, Encompass Flood Service, Encompass Fraud Service, Encompass Consumer Direct and Encompass CRM. Its Ellie Mae Total Quality Loan Program (TQL) is a centralized platform of services within Encompass that facilitates improved consistency, efficiency, and loan quality. TQL enables the ordering of multiple necessary services, such as compliance, income verification, fraud checks, collateral risk, and flood certification, from one tool. Encompass CenterWise is an offering of Encompass WebCenter and Encompass Electronic Document Management (EDM). Encompass WebCenter provides the ability to create and customize professional Websites for lender headquarters, branches, and/or loan officers. Its Encompass EDM gives Encompass users the ability to go paperless and receive, store and manage documents, as well as deliver documents electronically and securely to borrowers, real estate agents, lenders, and settlement service providers.
Encompass TPO WebCenter is a Web-based extension of Encompass that enables loan level interaction between a third-party originator (TPO) and a lender. Encompass TPO WebCenter provides a secure, synchronized Web-based environment for the TPO to upload loan files and supporting documentation directly to the Encompass software used by the lender. Encompass Docs Solution is an integrated, initial disclosure, and closing document preparation solution that electronically generates the dozens of documents a borrower must receive and sign prior to the funding of a loan. Encompass Compliance Service analyzes mortgage loan data for compliance with consumer protection laws and institutionally mandated compliance policies. Its Encompass Product and Pricing Service allows Encompass users to automatically compare qualified loan products with pricing and easily pinpoint the best program for a borrower. Its Encompass 4506-T Service is an integrated income verification solution that allows users to electronically order tax return data from the internal revenue service, quickly receive reports back, and compare and validate the income stated on the loan application with the borrower's actual tax returns.
Encompass Appraisal Service enables Encompass users to seamlessly order, track and retrieve appraisal reports from within Encompass. Encompass Flood Service allows Encompass users to order and transfer basic and life-of-loan flood zone determination electronically. Encompass Fraud Service allows Encompass users to order collateral and non-collateral based fraud risk reports from within Encompass. Encompass CRM includes a suite of sales and marketing tools that allows users to manage contacts, leads and marketing campaigns. Encompass Consumer Direct, which is a storefront for mortgage originators, providing a self-service model for borrowers.
The Company's AllRegs Education offer courses related to the mortgage industry. Customers can choose from various delivery options, including self-paced training, instructor-led online courses, Webinars, or live classroom training. Its courses allow its customers to meet continuing education requirements for state-licensed mortgage loan originators, as well as certification programs for mortgage industry professionals. Its AllRegs Policy and Procedure Manuals help organizations of various sizes author, publish, and maintain policy manuals, procedure templates, and lending handbooks. It offers documentation services that allow its customers to manage internal mortgage lending compliance. It also offers management of its customers' document and guideline publishing with private label branding. Additionally, it provides custom training solutions, as well as a robust learning and content management tool.
The Company competes with CBCInnovis, Calyx Technology, Inc., DH Corporation, LendingQB, Altisource Portfolio Solutions SA, Accenture PLC, Wipro, Ltd., Fidelity National Financial, Inc., a la mode, inc., Mortgage Internet Technologies, Inc., DigitalDocs, Inc., DocMagic Inc., LenderLive Network, Inc., MRG Document Technologies, LogicEase Solutions Inc., Wolters Kluwer Financial Services, Inc., First American Financial Corporation, Insight Lending Solutions, Inc., LoanLogics, Optimal Blue, LLC., Encomia LP, SigniaDocs, Inc., VirPack Corporation and Xerox Mortgage Services, Inc.
Ellie Mae Inc
4420 Rosewood Dr Ste 500
PLEASANTON CA 94588-3007
Company Web Links
- BRIEF-Ellie Mae says Edgar Luce to resign from position of Chief Financial Officer
- BRIEF-Ellie Mae reports third quarter 2016 results
- BRIEF-Ellie Mae announces integration with Qualia
- BRIEF-Ellie Mae announces launch of follow-on offering
- BRIEF-Ellie Mae files for potential mixed shelf offeirng, size not disclosed