Powered by Ellie Mae: 4 remarkable lender feats from 2020 so far
Would you have been shocked if someone told you back in January that you would be closing more loans in the first half of 2020 than you did throughout the entire year of 2019? Us too! After months of unprecedented refinance volume, the tidal wave of demand has continued with purchase volume surging as we move through the summer. But, what’s more awe inspiring than these record-breaking numbers, is what lenders have been able to accomplish despite the unique challenges brought on by the COVID-19 pandemic. What powered our lenders during this time? Passion, dedication to your borrowers, maybe some caffeine and we’d like to think Ellie Mae played a part too.
We asked our lender customers to share the remarkable feats they’ve achieved during the first half of 2020 that were #PoweredbyEllieMae and here are just a few of the stories we received.
1. “We had the biggest closing month in July in my 20 years at the bank. Our fastest clear to close was 8 days."
- Linda Moran, Vice President at North Shore Trust & Savings
2. “Going completely remote in 4 days, then closing our most loans ever while totally remote."
- Marc Sandler, Encompass Administrator at First Savings Mortgage Corporation
3. “We more than doubled our expected/projected volume (units and volume) while maintaining same level of staff and juggling the needs to move people to remote work. Our underwriters have improved their productivity 100% as well while still maintaining a low error rate.”
- April Brake, QA Manager at Great Southern Bank
4. “During the State "Stay at Home Order", we had record closing months and also worked with a vendor for RON and Hybrid closing packages (which we got setup in 2 weeks)."
- Mark Vogel, CIO at Developer's Mortgage Company
All these incredible accomplishments were assisted by the innovative tools built into the Ellie Mae Digital Lending Platform.
What incredible feat have you been able to accomplish while leveraging Ellie Mae technology? Share it on social media with the hashtag #PoweredbyEllieMae so we can amplify your story and possibly highlight it in our next Powered by Ellie Mae blog.
Stay tuned for more updates like this as we continue to partner with our lender customers and navigate the second half of this unique year together.