Ellie Mae, a provider of software solutions for the residential mortgage industry, has partnered with Wells Fargo to enable joint customers to deliver loan data securely and efficiently.
The process will enable Ellie Mae to deliver its data straight from its Encompass all-in-one mortgage management solution straight to Wells Fargo.
Currently, lenders export the completed data from their LOS and then take several steps to upload the data to a dedicated Wells Fargo portal. Ellie Mae claims that it will be able to do all of that in just one click.
Additionally, the process will also ensure that the data is accurate, organized and securely transmitted, Ellie Mae added.
Ellie Mae executive vice president Joe Tyrrell said: "At Ellie Mae, our mission is to provide our lenders with innovative solutions throughout the entire loan process. Through this new process, we will make it even easier for our joint customers to sell loans and deliver loan data directly to Wells Fargo, while helping to ensure the highest levels of compliance, quality and efficiency."
Ellie Mae has approximately 180,000 contracted users of Encompass, including seven of the 25 largest US mortgage lenders.