Competitive Edge
It doesn’t take a mortgage expert to know that mortgage industry is ripe for automation. The traditional process is massively inefficient, with wasted paper, duplicative efforts, and time consuming, archaic methods used to gather and verify data. And the flood of regulations and investor demands that have come into play over the last several years — meant to address the shortcomings that contributed to the “mortgage meltdown” –- have made mortgage origination even more challenging.
With that in mind, Ellie Mae’s mission is to help lenders deal with these challenges. To do that, we have teams of people devoted exclusively to keeping up with the ever-changing regulations and advances in best business practices. We have the largest user base in our industry, and we view ourselves as our clients’ trusted technology partner.
We believe that our commitment to a constantly improving product, and our willingness to devote the resources and capital to make that a reality, is a distinct competitive advantage. We believe there is no other software provider in our space with the same level of commitment and wherewithal to effectively serve customers.
We are also very proud of our leadership in cloud-based software, technology that is rapidly gaining adoption in the lending industry. At the end of 2012, more than 41,000 Encompass users were subscribing to our on-demand solution, and 83% of our entire customer base was using our on-demand software modules and the Ellie Mae Network™.
Looking forward, there are many existing lender workflow processes that are ripe for software automation, including accounting, budgeting and forecasting, risk management and hedging, demand generation, business analytics, and more. Ellie Mae will explore adding these capabilities in the future, which we believe will broaden our customer relationships and market opportunities.
As lenders face more and more regulatory demands, and seek comprehensive, all-encompassing software solutions, Ellie Mae is well positioned to satisfy the technology needs of lenders, and streamline the flow of loans from consumer to lender to aggregator-investor.
