Ellie Mae has launched a new version of its digital mortgage solution Encompass, the company announced.
Ellie said Encompass 18.3 will help lenders originate more loans, lower origination costs and shorten the time to close with compliance, efficiency and quality.
The latest version supports new changes to the TILA-RESPA Integrated Disclosure (TRID) rule, also known as the Know Before You Owe mortgage rule, and includes a new customizable TPO workflow, new correspondent investor integrations, and product and pricing enhancements.
“We’re offering complete digital mortgage solutions to help our customers succeed by enabling them to close more loans by increasing efficiencies, reduce the time to close by offering intelligent automation and reducing the cost to originate,” Ellie Mae President and CEO Jonathan Corr said in a release. “With the 18.3 major release of Encompass we’re ensuring compliance with the upcoming Know Before You Owe guidelines and offering enhancements to our Connect solutions to help our lenders be more productive while growing their businesses.”
Starting in October, the Consumer Financial Protection Bureau will begin enforcing amended TRID guidelines.