e4e Offers Offshore Processing and Verifications Through Ellie Mae
DUBLIN, CA and SANTA CLARA, CA—March 9, 2006—Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, and e4e, a global business services and solutions provider, have partnered to provide fully integrated, cost-effective offshore loan processing and verification services through Ellie Mae's Encompass Mortgage Automation System. e4e's ServicesOnTap service is now available to brokers, vendors and lenders nationwide.
e4e's ServicesOnTap offshore loan processing services will be available through the Encompass Processing Network, which will be accessible to all Encompass users when the Encompass Processing Network goes live this month. It will enable mortgage originators to benefit from low-cost, no-volume commitments for pay-per-closed-loan offshore services for loan processing right from within the Encompass Mortgage Automation System.
In addition, ServicesOnTap's VerifyM verification service has now been seamlessly integrated into Encompass. Within Encompass, users can easily opt to request verification services and simply pay per verification. Employment and income verifications are being offered initially. The companies plan to launch insurance, mortgage and payoff verifications within the next few months.
ServicesOnTap's efficient offshore verifications model features verifications at the industry's lowest available prices. "Right from within Encompass, mortgage originators can now easily order verifications from e4e's ServicesOnTap for as low as $8, and can have most verifications completed in less than two business days," explained Vaibhav Tewari, president of e4e Financial Services Business. "As mortgage companies look to improve volumes and margins in 2006, outsourcing elements of the mortgage transaction will be instrumental in lowering costs and improving turn-around times. This is what the global economy is all about."
The verifications service offered through Encompass requires no volume commitments, offering true flexibility, scalability and convenience to mortgage companies of all sizes.
"e4e ServicesOnTap offers an excellent way to get verifications," states Joseph Puthur, director of hosted and professional services at Ellie Mae. "Their offering seamlessly integrates into the standard loan processing cycle as a fully automated service, making the order of verifications easy, fast and inexpensive. We're also pleased to have them join our newly established Encompass Processing Network. ServicesOnTap has proven to be able to offer the kinds of efficiencies that originators are looking for."
About e4e and ServicesOnTap
e4e is a global business services and solutions provider with a strong focus on Mortgage Services. Its flagship product, ServicesOnTap, is a next generation Internet Enabled Mortgage Services offering with end-to-end mortgage origination services, including AcquireM (exclusive mortgage leads), VerifyM (affordable and accurate employment, income, insurance and mortgage verifications) and ProcessM (complete and mini mortgage loan processing). Since 2000, various brokers, vendors and lenders have leveraged these services to dramatically increase margins, book loans faster, improve compliance and book more loans. To learn more about e4e's ServicesOnTap, visit http://www.servicesontap.com or www.e4e.com or call (866) 6-GET-SOT.
About Ellie Mae, Inc.
Ellie Mae is an award-winning provider of software and services for the mortgage industry, which was recently named to the Inc. 500 list of America's fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company's flagship Encompass® mortgage automation system, Contour™ and Genesis 2000® loan origination software, Encompass Websites™ for mortgage brokers, and Ellie Mae Docs™ services for document processing. Ellie Mae's ePASS® Network is the mortgage industry's online transaction platform enabling all mortgage companies in the United States to easily do business online with dozens of leading lenders and thousands of settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (888) 955-9100.
Ellie Mae, Encompass, ePASS, and Genesis 2000 are registered trademarks, and Contour, Executive Websites, and Ellie Mae Docs are trademarks, of Ellie Mae, Inc. All rights reserved.