Ellie Mae has announced that First Federal Lakewood has chosen Ellie Mae’s Encompass mortgage management solution as its platform for originating mortgages. First Federal Lakewood is a mutual bank with nearly $1.6 billion in assets, 19 branch locations and 12 mortgage lending offices in Ohio. According to Mary Ann Stropkay, senior vice president of residential lending, First Federal Lakewood had grown its mortgage lending volume five-fold over the past five years and needed an integrated technology solution that could handle its future growth and keep up with continually changing compliance regulations.
"Ellie Mae’s Encompass was a natural fit for us because it is trusted by many other banks, and there is a certain comfort to having a system that is backed by the collective experience of institutions like ours,” Stropkay said. “It also met our goals of keeping our customers engaged in the mortgage process from start to finish and helping us move to a paperless environment.”
For its mortgage platform, First Federal Lakewood considered 10 different providers including Ellie Mae. It selected Encompass for its ability to streamline and automate the entire mortgage process in addition to itsintegrated compliance and paperless features.
“More and more independent banks like First Federal Lakewood are growing their mortgage operations with great success, yet finding themselves in need of a technology partner that is capable of handling greater volume while maintaining compliance,” said Jonathan Corr, president and COO of Ellie Mae. “The fact that First Federal Lakewood selected Ellie Mae as its technology partner over nine other providers means a lot to us. We are very pleased to partner with First Federal Lakewood and look forward to helping the bank achieve even greater success.”
