PLEASANTON, Calif.--(BUSINESS WIRE)-- Ellie Mae® (NYSE: ELLI), the leading cloud-based platform provider for the mortgage finance industry, today announced immediate support for Freddie Mac’s income and asset assessment solutions delivered through Loan Product Advisor®.

Ellie Mae has existing integrations to facilitate the ordering of income and asset services from Equifax’s The Work Number®, FormFree™, and LoanBeam, from within the Encompass Lending Platform®. Ellie Mae will offer services from Finicity in the fourth quarter of 2018. Ellie Mae has added functionality in support of Freddie Mac’s enhancements to Loan Product Advisor to activate their new income and asset messages in Loan Product Advisor, available through Encompass today.

Automated income and asset assessment helps lenders automate their collection, calculation and verification processes to speed up borrower qualification, saving lenders and borrowers time by reducing manual work and documentation. In addition, LoanBeam’s integration with Loan Product Advisor is the only AUS-integrated solution available for verifying self-employed borrower income and will help lenders more easily underwrite loans to this expanding market.

Ellie Mae and Freddie Mac continue to collaborate through their strategic partnership to provide their joint clients with greater efficiency to originate more loans, lower origination costs and reduce the time to close.

“Ellie Mae is focused on providing a true digital mortgage from origination through purchasing. To do this, we’re partnering with innovative leaders to offer our joint lenders innovative solutions to automate the entire loan process while offering the highest levels of compliance, loan quality and efficiency,” said Parvesh Sahi, senior vice president, business development, Ellie Mae. “Through our partnership with Freddie Mac, today we are offering enhancements to Encompass to simplify the income and asset validation process for a more streamlined process.”

“Lenders want solutions that will give them an edge in growing their business,” said Rick Lang, Freddie Mac, Vice President, Loan Advisor Strategy Integration for the Single-Family Business. “Through our partnership with Ellie Mae, we’re enabling our clients to provide a better borrower experience, giving them The Freddie Edge in today’s competitive marketplace to responsibly expand access to credit with confidence and certainty.”

Ellie Mae is the leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s Encompass digital mortgage solution provides one system of record that enables banks, credit unions and independent mortgage lenders to fund and purchase more loans, lower origination and purchase costs, and reduce time to close, all while ensuring the highest levels of compliance, quality and efficiency.

Ellie Mae will continue to work closely with Freddie Mac and other third party integrators to ensure complete coverage as they expand their program further.

About Ellie Mae

Ellie Mae (NYSE: ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce 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.

About Freddie Mac

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

©�2018 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181015005849/en/

Ellie Mae, Inc.

Erica Harvill, 925-227-5913

[email protected]

or

Allison+Partners

Caitlin Coffee, 312-635-8204

[email protected]

Source: Ellie Mae, Inc.

Press Releases