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MILA sponsors charity golf event, donates $150,000 to children's hospital

National Mortgage Professional
Jan 23, 2006

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 credit. †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 more efficiently." 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.
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