The Industry Pulse: Updates on Ellie Mae, Optimal Blue, and More

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From  new technologies to new partnerships, catch the latest happenings in the industry in this update.

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Ellie Mae recently announced the expansion of Encompass Investor Connect with partnerships that now include 7 of the 10 largest correspondent investors and representing more than half of all closed loan delivery volume.

Ellie Mae has established partnerships with correspondent investors AmeriHome, Flagstar Bank, Franklin American Mortgage, Mr. Cooper, NewRez (formerly New Penn Financial), TMS and Wells Fargo, as well as other top ten banks, with more partnerships to be announced in the coming quarters.

Encompass Investor Connect is the secure system-to-system workflow between lenders and correspondent investors that ensures delivery of accurate and compliant loan packages as part of the Encompass Digital Lending Platform. It supports the needs of lenders and investors, removing the manual loan package delivery process by automating directly from the Encompass LOS to the investor. Ellie Mae states that this improves pricing tiers and purchase times while enhancing efficiency, accuracy and compliance.

“We continue to see significant momentum with Encompass Investor Connect as we further our mission to help originators and purchasers achieve a true digital mortgage,” said Parvesh Sahi, SVP of Business Development for Ellie Mae. “With the majority of the largest correspondent investors as our partners, we represent more than half of closed loan delivery volume. Many providers only look at digitizing the front-end of the mortgage transaction. However, as we continue to look at digitizing the entire mortgage process, Encompass & Encompass Investor Connect is helping lenders and purchasers reduce costs and increase efficiencies that benefits all players in the mortgage ecosystem.”

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Optimal Blue, a provider of secondary marketing automation and services in the mortgage industry, recently the completion of a “lights-out” integration between its comprehensive hedge advisory and loan trading platforms. The announcement exemplifies Optimal Blue’s ongoing commitment to provide enterprise, end-to-end automation through superior technology with functional depth.

This real-time integration uses a library of proprietary APIs to  automate vital functions within the secondary marketing process that to date, have been increasingly complex and resource intensive. Further, the two-way integration builds on the workflow automation that is already established within the Optimal Blue platform.

“We are thrilled to deliver this next generation of automation to our clients,” said John Ardy, VP of Resitrader by Optimal Blue. “More than half of our clients have already transitioned to the integrated platform and those that remain will be migrated over the next several months.” Optimal

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Anaheim, California-based mortgage services provider, Consolidated Analytics has been accepted to the Standard & Poor’s (S&P’s) list of approved third-party review (TPR) firms. The company said that the approval validated that Consolidated Analytics met S&P’s criteria for quality and independence of third-party reviews for U.S. residential mortgage-backed securities (RMBS).

The company will now appear in S&P’s Ratings Direct publication alongside other selected firms that meet S&P’s stringent assessment factors.

“We never sacrifice quality,” said Arvin Wijay, CEO, Consolidated Analytics. “The S&P acceptance is a validation of the standards and best practices we have created across our entire organization. Standards that we’ve intentionally designed to exceed agency, market and client expectations for quality, independence, and transparency.”

Prior to approval, S&P reviews and scrutinizes a range of processes, infrastructure, and business best practices such as compliance with underwriting guidelines, data integrity for loans, property valuation accuracy, regulatory compliance, and supporting technology capabilities. Once every 18 months, S&P updates its approved list of approved TPRs.





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