Ellie Mae has integrated Wells Fargo’s Funding Loan Submission Summary (LSS) with Encompass, its mortgage management system, the companies announced.
The integration will enable Encompass users to streamline the data delivery process by sending batch closed loan data directly to Wells Fargo Funding, eliminating the need to send the LSS form to the
bank.
“Our mission is to provide our lenders and investors with innovative solutions throughout the entire loan process,” Ellie Mae Executive Vice President Joe Tyrrell said in a release. “Today, through our integration with Wells Fargo, we’re improving efficiencies and streamlining functionality by automating closed loan data delivery for our mutual customers.
“Our collaboration reduces the number of forms needed for Encompass customers while offering the ability to send batch closed loan data directly from the pipeline view in Encompass for a single system of record,” Tyrrell added.
“This is one of many foundational steps toward our end goal of nearly complete data integration, which is important for increasing efficiencies for our clients and across the industry,” Wells Fargo Funding Senior Vice President Susan Wallace said.