$128M acquisition puts Ellie Mae closer to ‘first true digital mortgage’

Offerings combo will provide 'personalized, high-tech and human-touch experience' for consumers, company says
  • Purchase takes mortgage finance company closer to solving a big pain point for real estate transactions.

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Agents and brokers know that one of the most painful parts of a real estate transaction is one that continues to be mired in paperwork: obtaining the mortgage. In the hopes of addressing that problem, mortgage finance firm Ellie Mae is spending $128 million in cash to acquire Velocify, a lender lead management platform that helps lender sales teams respond quickly to leads, improves their productivity and offers them "actionable selling insights," the company said in a press release. Velocify counts more than 1,500 companies as customers. Screen shot of Velocify home page Ellie Mae says it will marry the Velocify platform with its own offerings -- Encompass CRM for lead generation and marketing and Encompass Consumer Connect for loan applications and originations -- to create "a complete digital lead capture and conversion solution." "As part of our comprehensive strategy to deliver the first true digital mortgage to the industry, we are helping lenders to originate mo...