Ellie Mae updates its Encompass lending platform to offer more loans

Mortgage platform provider Ellie Mae has announced the new release of its Encompass Digital Lending Platform which will allow lenders to originate a wider variety of loans.

Ellie Mae said the newly released Encompass offers enhanced payment options for lenders who originate HELOCs. Additionally, lenders can filter change circumstance reasons to make it easier to re-disclose to the borrower.

The company has also added cash-to-close and affordability tools in its Loan Officer Connect. The additions enable loan officers to provide potential borrowers with different loan scenarios. Loan officers can then send eligibility letters to borrowers from their mobile devices.

Lastly, Ellie Mae announced new loan audit capabilities which offer lenders track changes for every loan in a single system of record for comprehensive loan auditing, reporting, and risk mitigation.

“Ellie Mae is offering a true digital mortgage solution to help our customers succeed in today’s competitive marketplace,” said Ellie Mae President and CEO Jonathan Corr. “With this new release we’re providing lenders with enhanced support to capitalize on the growing HELOC opportunity, an expanding ecosystem of Investor Connect integrations and Loan Officer Connect updates to help lenders close loans faster while offering a best-in-class borrower experience.”