twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.


Mortgage Tech Enables Lenders to Close Without LO

Some customers need a human touch

July 9, 2018

By Mortgage Daily staff



An enhancement to a widely used loan origination platform can enable a home lender to close a loan without a mortgage originator -- though some clients require a human touch.

Encompass Consumer Direct was unveiled by Ellie Mae Inc. on Monday. The system is part of the mortgage technology provider's Consumer Engagement Suite.

According to a news release from the Pleasanton, California-based company, the offering "delivers a true digital mortgage."

Ellie explained that needs have changed for digital homebuyers. Nowadays, more than 60 percent of shoppers expect to apply for and complete their home loan application completely online.

"Encompass Consumer Connect gives Ellie Mae Encompass lenders the ability to offer a consumer web experience that goes beyond a mere online application" the statement said. "It is truly a state-of-the-art, completely customizable, branded and engaging digital mortgage experience for homebuyers -- accessible from any device."

Consumers can reportedly research rates and loan options, securely upload documents from any device and receive real-time status updates.

For lenders, Ellie says they can have complete control and customization over their brand and workflow; automate credit, product-and-pricing and asset verification; and enable interaction with borrowers for requested documentation.

"For lenders to effectively compete in today's purchase-driven market, they need to be equipped to successfully reach the homebuyer at the point of thought," Ellie Mae Executive Vice President of Corporate Strategy Joe Tyrrell said in the statement. "Encompass Consumer Connect offers an engaging online consumer experience for lenders to turn a consumer's interest into a quality application that can be closed faster with complete transparency and compliance."

Ellie noted that the service is provided to existing Encompass customers at no cost.

The announcement quoted Brandon Durham, product support manager at Ellie-client Homeowners Financial Group, as saying that their clients can now complete an application on a phone in a coffee shop or sit across from a loan originator in an office thanks to Encompass Consumer Connect.

Ellie Mae spokeswoman Erica Harvill noted in a written statement that the enhanced technology enables home lenders to close a loan without a loan originator.

But she explained that the flexible, high-tech solution should be balanced with the human-touch needs of borrowers.

"If a homebuyer has a question on the application and wants to talk to someone in person, they can leave the online application and finish the process over the phone or in person," Harvill stated.

next story

back to current headlines


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news