Ellie Mae, a provider of innovative on-demand software solutions and services for the residential mortgage industry, announced it has entered into a strategic partnership with Fannie Mae, a source of residential mortgage credit in the U.S. secondary market, to further integrate Fannie Mae’s suite of risk management tools into Encompass, Ellie Mae’s all-in-one mortgage management solution.
Fannie Mae and Ellie Mae will collaborate to provide joint clients enhanced functionality that will help ensure loans meet Fannie Mae requirements from eligibility to loan delivery. Fannie Mae provides a number of technological tools to help lenders improve the quality of loans they originate including Desktop Underwriter, an automated underwriting system; Collateral Underwriter, an automated risk assessment tool for appraisals; and EarlyCheck, which helps lenders identify and correct loan issues before delivery to Fannie Mae. Joint customers will be able to leverage Ellie Mae and Fannie Mae technologies from within a unified workflow environment in Encompass, giving lenders a more efficient process for delivering quality loans to Fannie Mae with greater certainty.
“Our focus at Ellie Mae is to provide our lenders with innovative solutions for automating the entire loan process while ensuring the highest level of compliance, loan quality and efficiency,” Ellie Mae Executive Vice President Joe Tyrrell said. “Our strategic partnership with Fannie Mae will make it even easier for our lenders to do business with Fannie Mae through a complete workflow that covers the entire loan cycle, from application to post-closing.”
“We share a common goal with Ellie Mae, which is to provide best-in-class tools to our lenders,” said Steve Pawlowski, senior vice president of strategic initiatives and business solutions at Fannie Mae. “By partnering with Ellie Mae, we will leverage our combined technological innovation and expertise to create even greater automation and transparency. Together, we will provide our customers with greater certainty and access to technology that makes it easier to do business with us. We look forward to working with Ellie Mae to enhance our value to lenders and help them succeed.”