Ellie Mae releases Encompass 2.7MortgagePress.comEllie Mae,Encompass
Ellie Mae, a provider of mortgage industry software and
services, is now distributing an updated version of its Encompass
mortgage automation system. Encompass 2.7 includes several major
enhancements, including an integrated electronic document
management solution, increased collaboration features, more
reporting tools, new business development capabilities and more
security compliance tools.
Encompass 2.7 represents the industry's first loan origination
solution to feature integrated electronic document management
capabilities, which have become critical in enabling electronic
mortgages. Users can store, manage and deliver electronic loan
documents right from within Encompass. Starting when the loan is
first originated, all the way to closing, it enables mortgage
professionals to easily convert paper loan documents into
electronic documents which can be stored in the program's
electronic folders and linked to their corresponding loan files.
Encompass 2.7 also includes secure document delivery, which enables
originators to safely exchange files or loan packages with third
parties via one of four secure delivery options.
"The efficiencies generated by originating and processing loans
electronically are well documented. With Encompass 2.7, loan
officers, brokers and processors have everything they need to take
advantage of these efficiencies. And because electronic document
management is done within Encompass, it makes it very easy for
originators to transform paper into digital files, and then use
them in their digital format," explained Jonathan Corr, senior vice
president of products at Ellie Mae.
Another key enhancement to Encompass enables the integrated
contact management system in Encompass to synchronize with Outlook
and ACT! As such, when a new borrower's contact information is
inserted into Encompass, it will automatically appear in the user's
contact database of choice and vice versa. Calendar events can also
be synchronized, making sure that both programs have current
information at all times. Additional Encompass 2.7 highlights
include the following:
†Loan officers are empowered to give borrowers and/or real
estate agents access to a loan status Web site, where they can
easily access current loan information at any time of the day, from
any Internet connection.
†An added user interface designed specifically for the person
in charge of closing loans provides comprehensive support for the
closing process and enables documents to be seamlessly ordered from
within Encompass, using a similar approach to ordering
†A new task list capability enables users to efficiently
view, prioritize and be notified of impending deadlines of tasks
that may have otherwise not been tracked.
†Expanded reporting capabilities make it easier for users to
create custom reports.
†An enforcement tool enables managers or administrators to
limit loan officers from originating loans in the states in which
they are not licensed.
Encompass customers with current maintenance agreements can now
upgrade to Encompass 2.7 at no additional charge. Some services in
Encompass 2.7 require users to subscribe through Ellie Mae.
Supreme Lending deploys Encompass
Supreme Lending, a Dallas-based banker, is deploying Encompass
across its 90 branches, spanning 24 states.
According to Scott Everett, president of Supreme Lending, "We
expect our branch managers to love using Encompass, especially the
tracking and processing abilities that help originators close loans
Supreme Lending considers security compliance and company-wide
communications a big reason to switch to Encompass.
"Encompass does a much better job with compliance," said
Everett. "For instance, HUD is changing forms all the time so that
we regularly need to e-mail our branches to let them know that they
need to change the HUD or e-letter. With Encompass, all we have to
do is put the form on our server and it's automatically extracted
to all our branches when they print their new forms. This ability
to instantly update data in everyone's systems really helps us be
efficient. For instance, when we change our fee structure, it's
automatically on everyone's servers. When we do anything, it's
literally right there."
For more information, visit www.elliemae.com.