Ellie Mae Unveils New Branding to Reflect Value of Open Platform Approach to the Full Digital Mortgage
Encompass Digital Lending Platform Is Now Ellie Mae Digital Lending Platform, Capsilon by Ellie Mae Becomes Ellie Mae AIQ
PLEASANTON, Calif. – Apr. 16, 2020 – Ellie Mae®, the leading cloud-based loan origination platform provider for the mortgage industry, unveiled new branding today which includes renaming the Encompass Digital Lending Platform™ as the Ellie Mae Digital Lending Platform™. Capsilon by Ellie Mae will now be called Ellie Mae AIQ™.
“The Ellie Mae Digital Lending Platform is core to the $11 trillion home mortgage ecosystem,” said Jonathan Corr, president and CEO of Ellie Mae. “This renaming makes it clear to the industry that we’re providing an open platform with capabilities to manage every stage of the mortgage lifecycle, from point of interest to origination to resale on the secondary market, regardless of what POS or LOS a lender may use. It also provides clear delineation between our own Loan Origination Software (LOS) solution, Encompass®, and our robust platform that serves the entire industry.”
The Ellie Mae Digital Lending Platform is the foundation of Ellie Mae’s expansive technology stack and provides retail lenders, wholesale lenders and correspondent investors with a platform to engage with each other, as well as all participants in the residential mortgage supply chain. Through the capabilities of the platform, lenders and investors can drive more business, originate, sell and purchase loans more cost-effectively while delivering a better customer experience. The new branding helps to more accurately reflect the openness and flexibility of Ellie Mae’s platform in powering the industry’s largest ecosystem of lenders, services, technology providers and developers. It gives lenders of any and all size, as well as any correspondent investor greater choice either to use it as their primary LOS, or select individual components, such as AllRegs®, Velocify®, Mavent or Ellie Mae’s newest offering AIQ, to augment another LOS.
Specifically, the Ellie Mae Digital Lending Platform helps lenders and investors:
- Engage and acquire prospective homebuyers or members so they can increase their pipeline volume and drive more business
- Originate and close loans more efficiently so they can lower production costs
- Fund loans more efficiently and with higher quality so they can be sold faster
- Purchase loans effectively so investors can boost loan acquisition productivity and revenue for their correspondent business
Part of the Ellie Mae Digital Lending Platform, Ellie Mae AIQ is an omni-channel solution that leverages artificial intelligence (AI) to enable lenders, investors and servicers to automate manual workflows and increase productivity. Ellie Mae acquired Capsilon in October 2019, to bring best-in-class automated document recognition, automated data extraction and validation, AI and machine learning (ML) capabilities to simplify the collection of loan information and evidence from every source, perfect the data so that accurate, automation quality data can be used in all business applications and eliminate manual work and enable data sharing across the ecosystem.
“With Ellie Mae AIQ, lenders can manufacture, acquire and service loans up to 80 percent faster while significantly reducing risk,” said Joe Tyrrell, chief operating officer, Ellie Mae. “By offering these AI capabilities as part of the Ellie Mae Digital Lending Platform we are adding tremendous value for all lenders and correspondent investors, as they look for ways to grow their businesses and make operations more efficient and effective.”
The new branding is effective immediately and will be implemented across the company's product and services throughout the year.
For more information about the Ellie Mae Digital Lending Platform, visit: elliemae.com/digital-lending-platform.
For more information about Ellie Mae AIQ, visit: https://www.elliemae.com/aiq
About Ellie Mae
Ellie Mae is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten 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.
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© 2020 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.