Ellie Mae (ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today it has developed a process with Wells Fargo to enable joint customers to deliver loan data in a streamlined, efficient and secure manner.
The process helps facilitate loan data directly from Ellie Mae’s Encompass® all-in-one mortgage management solution to Wells Fargo with a single click. Today, upon completion of a loan, lenders typically export the completed data from their LOS and then take several steps to upload the data to a dedicated secure Wells Fargo portal. Going forward, the process with Encompass will eliminate the need to download and upload loan data in multiple locations, and instead provide a seamless transfer of data directly from Encompass to Wells Fargo. Additionally, the process helps to ensure that the data is accurate, organized and securely transmitted.
Ellie Mae’s Encompass solution enables banks, credit unions and mortgage lenders to create and fund mortgages in one system of record for compliance review, quality assurance and improved efficiency at every loan stage. Ellie Mae has approximately 180,000 contracted users of Encompass, including seven of the 25 largest U.S. mortgage lenders.
“At Ellie Mae, our mission is to provide our lenders with innovative solutions throughout the entire loan process,” said Joe Tyrrell, executive vice president at Ellie Mae. “Through this new process, we will make it even easier for our joint customers to sell loans and deliver loan data directly to Wells Fargo, while helping to ensure the highest levels of compliance, quality and efficiency.”