Industry News

Ellie Mae focuses on increasing numbers

Dramatic challenges over for the 5-year-old company

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Marc Schwartz doesn't like to think about what doing business was like before his New Jersey-based mortgage brokerage began using Ellie Mae's ePASS system. Creating a credit profile, for example, involved retyping all the information from a credit report into loan origination software, said Schwartz, partner of Globe Mortgage America. With ePASS, a few mouse clicks is all it takes to get the information where it needs to be. "It's a wonderful change," Schwartz said. "It's an unbelievable, unbelievable system." That kind of customer satisfaction has helped make 5-year-old Ellie Mae successful. Consider the numbers: Almost half of the 40,000 third-party origination companies use the ePASS system, a platform that links third-party origination companies to other parties involved in the mortgage process via the Internet. ...