Ellie Mae Announces Chase as Newest Partner to Use Investor Connect
Ellie Mae’s Correspondent Investors Partnerships Represent More Than 50% of Closed Loan Purchasing Volume in US
PLEASANTON, Calif. – Oct. 28, 2019 – Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, announced today that Chase is the newest partner to leverage Ellie Mae’s Encompass Investor Connect™. With this new partnership, Investor Connect now includes eight of the 15 largest correspondent investors who represent over 50% of all closed loan purchasing volume in the United States.
Investor Connect is the secure system-to-system workflow between lenders and correspondent investors that ensures delivery of accurate and compliant loan packages as part of the Encompass™ Digital Lending Platform. It supports the needs of lenders and investors, removing the manual loan package delivery process by automating directly from the Encompass LOS to the investor. With Encompass lenders representing over 60% of all loans sold to closed loan purchasers, Secondary Market Investor Connect users are tapping into a large part of the industry all while improving purchase times and enhancing efficiency, accuracy and compliance.
Ellie Mae has established partnerships with correspondent investors AmeriHome, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez (formerly New Penn Financial), TMS and Wells Fargo, as well as other top 10 banks, with more partnerships to be announced.
“Chase has seen significant growth in both our correspondent and consumer originations businesses as we continue to invest in digital and automation,” said Greg Beliles, head of Correspondent Lending at Chase. “We value key partnerships like Ellie Mae that allow us to offer a great client experience with a more predictable, fast delivery process.”
“We are thrilled to welcome Chase as our newest Encompass Investor Connect correspondent investor as we further our mission to help originators and purchasers achieve a true digital mortgage,” said Parvesh Sahi, senior vice president of business development for Ellie Mae. “Chase has a laser focus on improving sellers’ experience and we are glad that our mutual customers will benefit from the partnership. We now have eight of the top 15 correspondent investors as our partners, representing well over half of closed loan delivery volume in the United States. For more information about Investor Connect, visit https://www.elliemae.com/encompass/encompass-investor-connect
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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