October 2017 Encompass SmartClient Installation and Login Instructions 6 How to Get Up and Running with Encompass To quickly learn about Encompass, take advantage of the Ellie Mae Resource Center and all it has to offer. PennyMac leveraging Encompass for unified approach across all lending channels. PLEASANTON, Calif. 11, 2019 – Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI) and currently the largest correspondent aggregator in the United States.
PLEASANTON, Calif.--(BUSINESS WIRE)--Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, announced today new functionality for Encompass Loan Officer Connect™. This new functionality gives loan officers secure, real-time access to Ellie Mae’s Encompass™ digital mortgage solution – anytime, anywhere – from any device.
Loan Officer Connect enables loan officers to originate from anywhere, increasing productivity and efficiency, provide superior customer service to quickly address homebuyers while ensuring compliance throughout the loan lifecycle. The solution features the highest level of data access with built-in security and is configurable to your unique loan officer needs.
Available today, Loan Officer Connect offers new functionality to:
- Convert leads into loans by instantly providing a potential borrower with loan scenarios that match their needs, leveraging the Scenarios Comparison tool.
- See incomplete applications from Encompass Consumer Connect™ and convert them into loans.
- Manage your pipeline, view and edit loan files, and see details throughout the entire loan lifecycle.
- Request eConsent and eSign loan documents.
- Price loan and lock in pricing with Encompass Product & Pricing Service or Optimal Blue®.
- Access services landing page to order and manage services including product and pricing, credit and automated underwriting – all in one place.
“In today’s competitive mortgage market, service is the key differentiator and we know that a loan officer’s ability to stay engaged is critical to their success. They have to follow up on every lead and take advantage of every opportunity all while responding to the unique needs of each homebuyer,” said Jonathan Corr, president and CEO of Ellie Mae. “With Loan Officer Connect, we are giving loan officers access to Encompass anytime, anywhere from any device at no additional cost. It means more closed loans, more productivity and happy homebuyers.”
For more information on Encompass Loan Officer Connect, visit https://www.elliemae.com/encompass/encompass-loan-officer-connect
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call (877)355-4362 to learn more.
© 2019 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®, Velocify®, the Ellie Mae logo and other trademarks or service marks of Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
Artificial Intelligence company Quantarium announced on Thursday its partnership with Valligent Technologies to launch a condition adjusted “Quantarium Valuation Model” for equity lending, broker price opinions and real estate owned valuations.
The latest tech, coined QVM-Insights, leverages Quantariums AI power to incorporate real-time updates of a property’s condition to provide users with an automated valuation model.
It does so by prompting the AI to run hundreds of thousands of generations to understand and optimize information on micro-markets at the neighborhood, ZIP code or county level. Coupled with Valligent’s real-time streaming data and virtual inspection, the AI can then validate and learn what is most valuable in the data itself. It can also factor in the effects of local events like foreclosures and recent sales.
“QVM relies on a cascade of proprietary solutions, including machine learning techniques such as evolutionary programming, neural networks and genetic modeling that mimic biological processes, to get the most accurate results,” said John Smintina, Quantarium’s chief analytics officer.
For Quantarium, AI integration in the mortgage process has been a longterm goal – and something chef marketing and revenue officer, Romi Mahajan, said servicers should be prepared for.
“Servicing is very much about knowing your customer not only in the present state but being able to predict where they are going in future states, based on intelligent guessing, otherwise known as analytics,” Mahajan explained. “AI, especially ground-up, explainable AI, is perfectly suited to this task of knowing the customer.”
A Wednesday announcement from Zest AI, formally known asZestFinance, revealed mortgage giant Freddie Mac is also planning to utilize AI for borrower solutions. According to the release, Zest’s machine learning tools will partner with Freddie Macs credit decisioning models for managing risk.
Appropriately named the Zest Model Management System, the tech enables lenders to analyze large amounts of credit data that Zest says will help increase approval rates and reduce the risk of faulty credit decisions.
The platform also provides the ability to explain data modeling results to measure business impact and help comply with regulatory requirements.
“Freddie Mac is always evaluating technology solutions that meet our high standards and support our continued commitment to expanding homeownership opportunities responsibly, especially among first-time homebuyers, communities of color, and those living in underserved markets,” said Michael Bradley, Freddie Mac’s senior vice president of modeling, econometrics, data science and analytics for its single-family business.
Ellie Mae Encompass For Mac Desktop
“Zest allows us to do our machine-learning modeling work more efficiently and with less operational risk,” Bradley said.
Credit reporting agency Equifax also announced on Thursday its latest effort to expedite the borrowing process with its launch of Mortgage Duo – a platform that allows credentialed mortgage lenders to return instant verifications of employment and income for joint applicants.
The tech works through a single transaction via The Work Number database – a centralized commercial repository of income and employment information in the U.S. Users then eliminate the need for a lender to place individual orders for each borrower’s report.
“We recognize that people often apply for mortgages with a co-borrower, such as a spouse,” said Joel Rickman, senior vice president of verification services for Equifax. “The breadth of The Work Number database, with more than 111 million active records, allows us to deliver a new verification solution that helps lenders continue to build efficiency into their digital originations.
Ellie Mae Encompass For Mac Download
“With Mortgage Duo, they can instantly verify employment and income for both borrowers through a single automated transaction which helps decrease duplicative tasks and further reduces friction in the loan origination process,” Rickman said.
Lastly, cloud-based platform provider Ellie Mae released its latest updates to the Encompass platform on Monday. The 20.2 version arrived just over six months after the 20.1 Major Release in May, and boasts enhancements for lenders that support an omni-channel approach and the ability to design around business process terms and workflows.
The latest updates include:
- Updated functionality that provides a more flexible, lender-configurable model that can support omni-channel business models
- Offering enhanced administrative tools to manage condition templates
- Supporting more granular options for condition management controls
- Extending APIs to support external workflow engines
According to the release, a new document viewer is an added perk that utilizes cloud storage for automatic document conversion. The document viewer leverages v3 of Ellie Mae’s Encompass Developer Connect eFolder Attachment APIs which are backward compatible to Encompass.
In September, Ellie Mae was officially acquired by Intercontinental Exchange. With the release of its latest Encompass enhancements, ICE President Joe Tyrrell said that ICE is constantly working to innovate and deliver more automation of digital mortgages on behalf of its lenders.
Ellie Mae Encompass For Mac Download
“With this major release of Encompass, we are providing new levels of automated service ordering, efficient and collaborative workflows and the foundation for our hybrid eClosing which we are launching in just a few weeks. This is mission-critical for lenders, especially when they are experiencing peak volumes, remote workforces and homebuyers seeking high tech capabilities with human touch availability,” Tyrrell said.