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Ellie
Mae, a software provider for the mortgage industry, has launched its
Encompass Processing Network, which will enable Encompass users to outsource
loan-processing services from within Encompass to reduce mortgage processing
costs and increase efficiency, the company said today.
The Encompass Processing
Network provides mortgage originators instant access to domestic and offshore
loan-processing services.
E-OPS Loan Processing is one of the first
service providers to be integrated within the Encompass Processing Network.
E-OPS is an around-the-clock, offshore, paperless mortgage processing service.
The Encompass Processing
Network will enable originators to easily submit a file to E-OPS for loan
processing. Originators will simply select E-OPS from the "Services"
tab within Encompass, and with two mouse clicks will be able to submit files
for processing without the time or expense of having to courier files. As the
processors gather documents needed for processing and closing the loan, a
single electronic loan file is maintained in which all pay stubs, disclosures
and forms are imaged and sorted. When processing is completed, the loan file is
returned electronically to the originator, enabling mortgage originators to
maintain a paperless loan file.
E-OPS processes
conventional, FHA, VA, prime and sub-prime loans, and claims to offer the
country's fastest and most inexpensive loan processing services.
The Encompass Processing
Network will be accessible exclusively to Encompass users, and is scheduled for
release by the end of the year.
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