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Ellie Mae has announced that the U.S. Patent and Trademark Office has issued the company a patent for the Encompass mortgage origination and processing technology. The invention—U.S. Patent number 8,990,254 B2, titled "Loan Origination Software System for Processing Mortgage Loans Over A Distributed Network"—covers portions of the Encompass automation and loan origination system (LOS).
The LOS offers a comprehensive electronic form-based process that automatically generates and populates documents required during the course of a mortgage loan application process. Specifically, the patent covers:
►Persona-based user interface for loan officers, loan processors and underwriters
►Integrated contact management, marketing and pre-qualification tools
►Automated workflow and milestones
►Individual and management-level loan pipeline views
"Our Encompass technology offers a complete end-to-end solution to automate the mortgage origination process," said Jonathan Corr, Ellie Mae president and CEO. "This patented invention not only showcases Ellie Mae's technical leadership and expertise, it establishes an industry standard for the mortgage industry to follow. The Encompass technology serves as the foundation for our next generation solution, designed to bring more value to our customers by moving completely to the cloud to offer greater scalability, improved performance, productivity enhancements and the ability to use any device, anywhere."