Freddie Mac and Ellie Mae announced a partnership Tuesday that will integrate some of the GSE's Loan Advisor Suite components into Ellie Mae's Encompass solution.
"By working with Ellie Mae we will leverage our technological innovations and expertise to give our customers greater opportunities to become more efficient and competitive," said Dave Lowman, executive vice president at Freddie Mac. "Our goal is to give America's lenders a better way to originate loans that meet Freddie Mac guidelines more easily and with greater certainty. We look forward to partnering with Ellie Mae to help our customers succeed."
Ellie Mae's Encompass is an all-in-one mortgage management solution used by more than 135,000 mortgage professionals and thousands of mortgage companies, including six of the 20 largest U.S. lenders.
Freddie Mac's Loan Advisor Suite is a set of integrated software applications being developed to give lenders a way to originate and deliver high quality mortgages to Freddie Mac and gain insight into representation and warranty relief earlier in the loan production process. With this partnership Freddie's automated underwriting and risk and loan eligibility tools, Loan Prospector and Loan Quality Advisor, will be integrated into Encompass.
In addition, Ellie Mae and Freddie Mac will look at future integration opportunities as new Loan Advisor Suite components are introduced, like the recently announced Loan Collateral Advisor.
"At Ellie Mae, our mission is to provide our lenders with innovative solutions throughout the entire loan process while ensuring the highest level of compliance, loan quality and efficiency," said Joe Tyrrell, executive vice president at Ellie Mae. "Through this partnership, we will make it even easier for our lenders to do business with Freddie Mac."
