Ellie Mae (NYSE: ELLI) said it has announced a major new release of its Encompass mortgage management solution.
The new release includes more than 300 enhancements designed to promote compliance, loan quality and efficiency.
Encompass now supports tests and eligibility determinations for the recently changed Veterans Administration Qualified Mortgage rule. In addition, the borrower´s electronic loan folder will tie borrower data and documents to their QM eligibility.
The Ellie Mae Total Quality Loan (TQL) program now offers expanded support for ATR/QM with auto-population of verifications in a tracking tool and output delivery of ATR/QM compliance proof to investors for audit purposes.
Encompass is now equipped to meet Uniform Loan Delivery Dataset Phase 2 requirements for the GSEs, which took effect on loans delivered on or after August 25, 2014.
Ellie Mae is a provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae´s all-in-one Encompass mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com