TD Bank has deployed Ellie Mae’s digital mortgage solution Encompass, the companies announced.
TD Bank said Encompass will streamline its origination and call center vendor integrations onto one platform, speed up deployment of new online products, and significantly reduce the bank’s loan cycle time.
“At TD, we place a strong and steadfast emphasis on continually enhancing both the customer and employee experiences,” TD Bank Head of U.S. Mortgage Banking Rick Bechtel said in a release. “By leveraging Ellie Mae’s Encompass platform, we’re able to provide our customers with a simplified process, online access to documentation, and a substantial reduction in their loan closing time, all of which will dramatically enhance the mortgage lending experience.
“Simultaneously, Encompass will provide our employees with tools that increase efficiency and streamline processes – a huge win for the employee experience, as well,” Bechtel added. “We could not be more excited to bring TD to the forefront of digital mortgage technology, and our Encompass deployment is the first step.”
Ellie Mae said its Encompass offers technology covering the entire loan lifecycle so lenders can originate more loans, lower origination costs and reduce time to close.
“We are thrilled to announce that TD Bank has officially completed its initial rollout of Encompass,” Ellie Mae President and CEO Jonathan Corr said. “We’ve worked together to successfully transition TD from a legacy origination system to an agile solution equipped to handle the complexities and loan volume experienced by a leading national bank. We value the opportunity to partner with TD Bank to help them grow the mortgage lending arm of their business.”