PLEASANTON, Calif., and RADNOR, Pa., April 22, 2013 — Ellie Mae®, Inc. (NYSE:ELLI), a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, and Essent Guaranty, Inc., a nationwide provider of mortgage insurance, jointly announced today that more lenders will have faster and more efficient access to order mortgage insurance, check eligibility and obtain rate quotes through Essent’s recent integration with Ellie Mae’s Encompass360® mortgage management software.
Encompass360 reduces the time and simplifies the process for Essent to provide mortgage insurance coverage and also enables lenders to underwrite mortgage loans based on Essent’s mortgage insurance guidelines. Through the Encompass360 platform, Essent’s customers have all the information needed to populate the required mortgage insurance fields and receive a rate quote or commitment for mortgage insurance.
“Partnering with a market share leader like Ellie Mae will help more of our clients reduce duplicate data entries and speed up mortgage loan processing,” said Bill Kaiser, Essent’s chief operations officer. “Now, ordering Essent mortgage insurance and closing loans will be easier because of this integration.”
“We are pleased to be working with Essent, and believe this advanced integration will help expedite the MI ordering process for our joint clients,” said Richard Roof, senior vice president of business development at Ellie Mae.
Essent’s mission is to serve the housing finance industry by providing private capital to bear mortgage credit risk for lenders and investors, enabling them to make safe and affordable mortgage financing available for homeowners. The Company’s investors include Pine Brook Road Partners, Goldman Sachs, J.P. Morgan, PartnerRe and RenaissanceRe Ventures Ltd. By guarding lenders and investors against the risk of credit losses, Essent demonstrates a commitment to— and confidence in— U.S. homebuyers and the evolving housing finance system. And with its signature offering, Clarity of Coverage®, the company is leading the way to a more sustainable future for the housing industry.
Essent Guaranty, Inc. is a member of the Essent Group Ltd. family of companies, which offers private mortgage insurance and reinsurance coverage for single-family mortgage loans in the United States. Headquartered in Radnor, Pennsylvania, with growing operations centers in Winston-Salem, North Carolina and Irvine, California, Essent is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Additional information may be found at www.essent.us.
About Ellie Mae
Ellie Mae, Inc. (NYSE: ELLI) is a leading provider of on-demand automation solutions for the mortgage industry. The Company offers an end-to-end solution, delivered using a Software-as-a-Service model that serves as the core operating system for mortgage originators and spans customer relationship management, loan origination and business management. The Company also hosts the Ellie Mae Network™ that allows Encompass® users to electronically conduct business transactions with the lenders and settlement service providers they work with to process and fund loans. The Company's offerings include the Encompass, Encompass360® and DataTrac® mortgage management software systems.
Ellie Mae was founded in 1997 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.
© 2013 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®, DataTrac®, Ellie Mae Network™ and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
For Ellie Mae: