Ellie Mae has rebranded both its Encompass Digital Lending Platform and its Capsilon solution, the company announced.
Encompass now will be known as the Ellie Mae Digital Lending Platform and Capsilon by Ellie Mae now will be called Ellie Mae AIQ.
“The Ellie Mae Digital Lending Platform is core to the $11 trillion home mortgage ecosystem,” Ellie Mae President and CEO Jonathan Corr said in a release. “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 solution, Encompass, and our robust platform that serves the entire industry.”
The Ellie Mae Digital Lending Platform providers 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.
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.
“With Ellie Mae AIQ, lenders can manufacture, acquire and service loans up to 80 percent faster while significantly reducing risk,” Ellie Mae Chief Operating Officer Joe Tyrrell said. “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.”