Ellie Mae announced on Monday it added applications to its Encompass NG Lending platform, and lenders are already harnessing its powers, according to the company.
The Encompass NG Lending Platform aims at delivering innovative capabilities to help lenders and partners accelerate time to market, improve efficiency, loan quality and compliance, the company said. Ellie Mae’s new suite applications are now available to all lenders leveraging the platform.
The applications, Encompass Data Connect and Encompass Investor Connect, follow four existing suite applications the company launched in 2017. The applications created an ecosystem of collaboration for lenders, partners and third-party providers. The company hopes the new additions will offer the same experience.
Encompass Data Connect provides real-time lender access to secure cloud-based encrypted data and custom loan data fields, which aim at enhancing their business platforms. The app will also specifically offer increased automation by unlocking data for machine learning and artificial intelligence and streamline data access with no impact on Encompass performance, the company said.
“The early adopters of Encompass Data Connect are already leveraging the power of the solution to not just gain greater insight into their business, but to incorporate machine learning, artificial intelligence and process automation into their specific vision for their own unique digital mortgage,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “Encompass Data Connect unlocks the power of data to fuel intelligent automation and bring our lenders closer to the True Digital Mortgage."
Encompass Investor Connect will be replacing Encompass Data & Docs Solution. The app establishes secure system-to-system workflows between lenders and correspondent investors and is purposely built for a true digital mortgage experience. The company hopes it will improve pricing tiers and purchase times by automating directly from the Encompass LOS to the investor, the company said.
