PLEASANTON, Calif.--(BUSINESS WIRE)--Oct. 15, 2018--
Mae® (NYSE:ELLI), the leading cloud-based platform
provider for the mortgage finance industry, today announced immediate
support for Freddie Mac’s income and asset assessment solutions
delivered through Loan Product Advisor®.
Ellie Mae has existing integrations to facilitate the ordering of income
and asset services from Equifax’s The Work Number®, FormFree™, and
LoanBeam, from within the Encompass Lending Platform®. Ellie Mae will
offer services from Finicity in the fourth quarter of 2018. Ellie Mae
has added functionality in support of Freddie Mac’s enhancements to Loan
Product Advisor to activate their new income and asset messages in Loan
Product Advisor, available through Encompass today.
Automated income and asset assessment helps lenders automate their
collection, calculation and verification processes to speed up borrower
qualification, saving lenders and borrowers time by reducing manual work
and documentation. In addition, LoanBeam’s integration with Loan Product
Advisor is the only AUS-integrated solution available for verifying
self-employed borrower income and will help lenders more easily
underwrite loans to this expanding market.
Ellie Mae and Freddie Mac continue to collaborate through their
strategic partnership to provide their joint clients with greater
efficiency to originate more loans, lower origination costs and reduce
the time to close.
“Ellie Mae is focused on providing a true digital mortgage from
origination through purchasing. To do this, we’re partnering with
innovative leaders to offer our joint lenders innovative solutions to
automate the entire loan process while offering the highest levels of
compliance, loan quality and efficiency,” said Parvesh Sahi, senior vice
president, business development, Ellie Mae. “Through our partnership
with Freddie Mac, today we are offering enhancements to Encompass to
simplify the income and asset validation process for a more streamlined
“Lenders want solutions that will give them an edge in growing their
business,” said Rick Lang, Freddie Mac, Vice President, Loan Advisor
Strategy Integration for the Single-Family Business. “Through our
partnership with Ellie Mae, we’re enabling our clients to provide a
better borrower experience, giving them The Freddie Edge in today’s
competitive marketplace to responsibly expand access to credit with
confidence and certainty.”
Ellie Mae is the leading provider of innovative on-demand software
solutions and services for the residential mortgage industry. Ellie
Mae’s Encompass digital mortgage solution provides one system of record
that enables banks, credit unions and independent mortgage lenders to
fund and purchase more loans, lower origination and purchase costs, and
reduce time to close, all while ensuring the highest levels of
compliance, quality and efficiency.
Ellie Mae will continue to work closely with Freddie Mac and other third
party integrators to ensure complete coverage as they expand their
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.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals
by providing mortgage capital to lenders. Since our creation by Congress
in 1970, we’ve made housing more accessible and affordable for
homebuyers and renters in communities nationwide. We are building a
better housing finance system for homebuyers, renters, lenders,
investors and taxpayers. Learn more at FreddieMac.com,
and Freddie Mac’s blog FreddieMac.com/blog.
© 2018 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181015005849/en/
Source: Ellie Mae, Inc.
Ellie Mae, Inc.
Erica Harvill, 925-227-5913