Ellie Mae has announced a pricing structure available to customers of Encompass360 Mortgage Management Solution Banker Edition. In addition to its hosted and licensed models, Encompass360 Banker Edition is available as a “Success-Based Pricing” model. With this model, customers do not have to purchase the technology. Instead, they pay a fee—which may be passed to the borrower, to the extent permissible by law, as part of the lender’s origination, document preparation and processing fees—for each closed loan.
“Encompass360’s Success-Based Pricing gives us the same access to all the bells and whistles—like loan officer websites to communicate with borrowers, closing tools and automated loan origination compliance checks—all without a long-term investment," said Encompass360 customer Joe Cuttone, owner and chief executive officer of American Fidelity Mortgage Services. “We're a medium-sized company with a system that rivals any solution in the industry—and that includes the technologies used by the big players. It really makes economic sense for us.”
All Success-Based Pricing customers have the exact same fully integrated access to Encompass360’s comprehensive set of features that licensed-pricing customers have, including private-labeled borrower-facing Web sites, electronic disclosures and eSigning, electronic document management technologies, Encompass Closer document preparation services, and Encompass Compliance Service automated compliance technologies.
Customers opting for Success-Based Pricing may order an unlimited number of disclosures and closing documents may be drawn as many times as is needed, all for no extra charge. There are no or minimal upfront fees for new Banker Edition customers to get started using Encompass360 Success-Based Pricing. Nominal monthly fees are required if closed loan minimums for such month are not met and the per-closed loan fee may be based, in part, upon the number of originators per customer company.
“Some of our customers asked for the type of flexibility and business control that comes with this type of pricing, so we are providing it to them,” said Jonathan Corr, chief strategy officer for Ellie Mae. “Ellie Mae has always had a strong commitment to helping customers do more and better business. This is a win-win pricing model where our customers’ success becomes our success. We’re giving our customers one more way to do business in a way that makes most sense for them, while they’re still getting a footprint of capabilities that span the full spectrum of the mortgage loan origination cycle.”
For more information, visit www.EllieMae.com.