Ellie Mae, known for its loan origination system and technology platform, has launched a mortgage compliance business.
Dubbed Encompass Compliance Service, the offering automatically checks compliance throughout the origination process, a news release today said.
Ellie said the automated service is powered Mavent, which it acquired in December 2009.
“Automated compliance checks are becoming a standard part of the mortgage origination process — a progression that’s been underscored by the regulators’ use of compliance technologies in their review and audit processes,” Ellie Mae Chief Strategy Officer Jonathan Corr said in the statement. “Ellie Mae’s originator-specific compliance solutions are just as easy, if not easier, for originators to use as those used by the regulators.”
Corr added that Encompass360, its technology platform, can easily export files in formats that are compatible with compliance technologies used by mortgage regulators.
