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Enhancements announced to Ellie Mae's Encompass360 product

Aug 26, 2010

Ellie Mae, the enterprise mortgage origination technology provider for mortgage bankers, mortgage brokers, community banks, credit unions and other mortgage lenders, has released enhancements to its Encompass360 Mortgage Management Solution. More than a dozen added or upgraded features comprise this release—many of which were based on suggestions from existing Encompass360 users. The enhancements are components of three primary areas: Regulatory compliance, electronic document management and disclosure, and authorized multi-party access. Each enhancement was designed to address the requests of existing Encompass360 customers. “It’s great to work with a company that responds to customer requests with product enhancements,” says Veronica Arnett, Encompass administrator for Sente Mortgage, a beta tester of the newest product enhancements to Encompass360. “This release’s upgrades are definitely a constructive improvement, but our favorite feature is probably the new intelligent document recognition in Encompass360’s electronic data management functions. The system’s ability to recognize faxed and uploaded images probably saves us about 20 minutes per file. When you put an hourly wage on that, you can see that we’re saving quite a bit.” “We are continually investing in our technology, and meeting our customer requests is a big part of that,” said Jonathan Corr, chief strategy officer for Ellie Mae. “In this update, we made some significant improvements around electronic document and disclosure management, multi-party access, and regulatory compliance. Compliance is rightfully a big focus among originators right now.” Some of the key new enhancements include: ►More configurable RESPA/TIL alerts that allow users to customize alerts based on company policies. ►More refined disclosure workflow that filters disclosures based on entity type and disclosure timing according to channel-specific configuration. ►The ability for the interviewer to e-sign mortgage applications prior to sending to borrowers for e-signing. ►Intelligent document recognition that not only recognizes, but also categorizes and files all commonly used forms and documents, and can easily “learn” virtually any new document. ►Productivity functions that allow users to print any document from any software program directly to the loan file’s specific e-folder. ►Coordination and monitoring of multi-party access that not only reveals any individual that opens a file, but also logs the specific actions taken on each file by each individual. ►Deeper reporting capabilities that offer expanded audit trails and added fields to allow for more detailed and customized categorization. “We believe the industry is moving toward a holistic view of loan quality and is looking for productivity tools that elevate quality across the entire mortgage chain,” said Corr. “We created Encompass360 with a focus on total loan quality. These enhancements continue that focus by making it easier for our customers to achieve quality in the minute details as well as on the whole.” For more information, visit www.EllieMae.com.
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Aug 26, 2010
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