Ellie Mae has announced the launch of its Encompass Product and Pricing Service. This integrated service is powered by recently acquired Mortgage Pricing System’s LEAP loan eligibility and pricing product, which has been rebranded as an Encompass360 feature. Ellie Mae acquired substantially all the assets, including the LEAP loan eligibility and pricing product, of Mortgage Pricing System LLC in a transaction that closed on Jan. 3, 2011.
Encompass Product and Pricing Service provides loan product eligibility and pricing information based on the specifics of each loan. It is available as an option to all Encompass360 clients directly from their Encompass360 systems. Ellie Mae’s existing relationships with product and pricing providers on the Ellie Mae Network will not be affected so users may also maintain direct access to their choice of the approved providers on the Ellie Mae Network.
“Encompass Product and Pricing Service responds to our clients’ desire for a more seamless workflow while furthering our goal of providing a comprehensive solution spanning from customer acquisition to investor delivery,” said Jonathan Corr, chief strategy officer for Ellie Mae. “Encompass Product and Pricing Service adds important functionality that will enhance our clients’ ability to originate high quality and well executed mortgages.”
“We are excited to become part of the Ellie Mae family,” said Tom Lyons, director of relationship management for Mortgage Pricing System. “Like MPS, Ellie Mae is a client-centric company focused on elevating loan quality. We look forward to extending the power of our solution to Encompass360 customers.”
For more information, visit www.elliemae.com.