Industry NewsMortgage

Ellie Mae’s Encompass solution honored with innovation award

Mortgage loan management software used by majority of nation’s lenders

A mortgage loan processing system used by a majority of the nation’s lenders has won a business publication’s industry innovation award. Mortgage industry software provider Ellie Mae announced Thursday that the San Francisco Business Times gave a Tech & Innovation Award to Encompass, a software suite that automates the mortgage process for more than 120,000 mortgage professionals and thousands of mortgage companies, including six of the 20 largest U.S. mortgage lenders. An enterprise "software as a service" (SaaS) solution, Encompass is billed as an end-to-end solution that handles everything related to loan production, including marketing, loan origination, processing, underwriting, closing and funding, and post-closing and shipping. Ellie Mae boasts that it enables lenders to originate, underwrite and close loans using one system, instead of having to shift between different applications or a chain of third-party technologies that have been cobbled together to accomp...