Empire Equity Selects Ellie Mae's Encompass Anywhere
Leading mortgage brokerage deploys Web-enabled Encompass in all branches
MONTVALE, N.J, and DUBLIN, CA, January 10, 2006—National mortgage broker Empire Equity Group, Inc. and Ellie Mae, an award-winning provider of innovative software and services for the mortgage industry, have announced that Empire is in the process of implementing Ellie Mae's Encompass Anywhere hosted mortgage automation system. When the deployment is complete by the first quarter of 2006, all Empire branches will have switched to Encompass Anywhere from their current loan origination systems.
Empire's decision to switch loan origination systems was driven by a desire to enhance enterprise-wide operations and compliance. "Before deciding to implement Encompass Anywhere, we faced daily challenges common among brokerages like ours," explained Daniel Jacobs, CEO of Empire. "We were unable to get comprehensive, real-time visibility into our daily operations and therefore had to manually compile fragmented reports and data from our various office locations. Encompass has empowered us with enterprise-level management and reporting tools. Our compliance department will be able to assure quality originations by streamlining all disclosures at the administrator level. These management, reporting and compliance functions are standard in Encompass but are not readily available for multi-branch operations in most other LOS products on the market today."
Empire expects its mortgage originators to greatly benefit from using Encompass Anywhere. "We were impressed with the simplicity of the Encompass system and how it offers an overall picture of where the loans are in the process," said Steven Lax, director of operations for Empire. "Encompass will allow us to improve our level of customer service by illustrating the exact status of loans." Encompass collects loan data in a centralized database and offers four views of that data: one for the loan officer, one for the processor, one for the closer, and one for management. The system is integrated with Ellie Mae's ePASS Network, which offers secure electronic transmission of borrower information to lenders and settlement service providers. "Thanks to Encompass connectivity to our major business partners and the milestone flags that Encompass can provide, we can create more efficient transactions which will deliver quicker, smoother loan closings," added Jacobs.
The Web-enabled mortgage automation system allows Empire branches to be more efficient and operate with less paper by empowering originators to view, manage and distribute loan data electronically via any Internet connection, at any time. The company is seeking to simplify compliance oversight. "We're working with Ellie Mae and internally to create additional compliance and licensing business rules and flags that would benefit our organization as well as the industry," added Jacobs.
Empire chose to deploy Encompass Anywhere, the hosted version of the Encompass Mortgage Automation System, since it freed them from the up-front and ongoing expense of successfully running a loan origination system on company servers. "Deciding to go with Encompass Anywhere was easy after we reviewed all the security and redundancy features of the platform," explains Ron Steele, chief information officer at Empire. "With Encompass Anywhere we do not need to invest in servers nor technical staff to support these servers. Instead, we get maximum up-time through the hosted model, and we can pay for the technology over a period of time rather than as an upfront investment. To us, it was a no-brainer."
"Empire Equity has established itself as one of the leading brokerages in the mortgage industry, and its investment in Encompass Anywhere should help secure that position for years to come," stated Joe Puthur, Director of Hosted and Professional Services at Ellie Mae. "As their organization continues to grow, our highly scalable Web-enabled solution will deliver unparalleled management and collaboration functions with the flexibility of instant, anytime, anywhere access."
Empire has high expectations of its deployment of Encompass Anywhere. "We have had a very positive experience with Encompass Anywhere and wanted to ensure that the entire company had access to this robust system which helps us meet the needs of our customers," said Jacobs. "After having dealt with many technology vendors I have come to expect over-promising and under-delivering. Thus far, Ellie Mae has delivered what they have committed within the time-frames promised. This is a true testament to their focus on customer satisfaction."
About Empire Equity Group, Inc.
Empire Equity is a full service broker that specializes in FHA/VA streamline refinancing, first and second mortgages, conventional refinancing, debt consolidation loans, commercial and investment property funding and construction/rehabilitation loans. The company is also the parent to 1st Metropolitan Mortgage, a leading national broker with more than 250 branches. Empire Equity Group has been in business since 1983 focusing heavily in the Northeastern United States. Since the acquisition of 1st Metropolitan, Empire has established development programs for branch managers, additional infrastructure to meet the needs of branches and installed the latest technology, such as an expanded intranet site and an innovative online loan origination system. For more information, call 704.552.0123.
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.
Daniel H. Jacobs
Chief Executive Officer
Empire Equity Group
Charlyne H. McWilliams
Media Contact for Empire Equity Group