TheMReport — News and strategies for the evolving mortgage marketplace.
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Special Advertorial Section Ellie Mae CORPORATE PROFILE Corporate Headquarters Key personnel Sigmund Anderman Founder and CEO Jonathan Corr President and COO Limin Hu Co-Founder and Chief Technology Officer Cathleen Schreiner Gates SVP, Sales and Client Services Richard Roof SVP, Business Development Number of Employ ees 300 contact infor m ation 4155 Hopyard Road, Suite 200 Pleasanton, California 94588 Phone: 925.227.7000 Web: elliemae.com 36 | The M Report Geographical scope and coverage area Ellie Mae, Inc. 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 (SaaS) 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. United States Key features • End-to-end enterprise mortgage system • Paperless, electronic management and organization of all borrower documents • Ability to transact with service providers within the software • Automated compliance • Customizable milestones, forms, and business rules • Enhanced loan officer compensation plan management • Ensured accuracy by working in one loan file from start to finish Company History Founded in 1997, Ellie Mae was one of the first tech companies to see the potential of leveraging the Internet to seamlessly link originators with both settlement services providers and investors. Delivery Platform: Software-as-a-Service (SaaS), Web-based, and licensed software added value to clients In 2000, the company launched the Ellie Mae Network, which has since grown to more than 1,300 partners. Without leaving the loan file, the loan officer or processor can order every product and service needed to originate a compliant loan: docs, credit reports, IRS income verifications, appraisals, flood certs, fraud checks, title, etc. These reports can be delivered online and automatically arrive in an eFolder. Throughout its history, Ellie Mae has successfully acquired and incorporated a number of major brands, including Contour (2001), Online Docs (2008), Mavent (2009), Mortgage Pricings Systems (2011), and DataTrac (2011). Several of these technologies are now either integrated into Encompass360 or offered as standalone services. Business lines, services, and products Encompass360 Ellie Mae Network Ellie Mae Total Quality Loan (TQL) Program Success-Based Pricing Encompass Appraisal Service Encompass CenterWise Encompass Compliance Service Encompass EDM Encompass Docs Solution Encompass Product & Pricing Service Encompass TPO WebCenter Encompass WebCenter Mavent Expert System One of the biggest questions anyone has in making a significant technology purchase is: What's my return on investment? Recently, Ellie Mae commissioned a study on its total economic impact. The study, conducted by Forrester Consulting, revealed that a lender funding approximately $1 billion annually and using Encompass360 and Success-Based Pricing could: • See a return on investment of 57 percent over three years • Break even in as fast as 2.9 months • Receive an average benefit of $232 per loan • Avoid $75,000 in compliance costs keys to success Since its founding, Ellie Mae has had a single focus: mortgage technology. Its goal has always been to leverage the Internet to wring paper, cost and time out of the mortgage process. goals and strategies for 2014 • Continue automating compliance, which is an overarching concern within the mortgage industry • Expand key initiatives, like TQL, to take time, cost, and risk out of the mortgage supply chain • Migrate clients to SaaS model and Success-Based Pricing • Keep investing in R&D and infrastructure to deliver a superior customer experience Industry awards, accolades, and milestones • Mortgage Technology Top 50 Service Providers, 2007-2013 • Mortgage Technology Steve Fraser Visionary Award (finalist), 2012 • Mortgage Technology Fix-It Award (finalist), 2012