Volume 21, Number 2
Mortgage Automator Ellie Mae Expands, Celebrates Performance at the NYSE
Company's Stock Rose Nearly 400 Percent in 2012 as Revenues Increased to $100 Million
Ellie Mae Founder and CEO Sig Anderman, flanked by family and
members of the Ellie Mae executive team and board of directors, rang
the Opening Bell at the New York Stock Exchange on Monday, Feb. 4.
(Photo courtesy of Ellie Mae)
By Nicole Zaro Stahl
What began 16 years ago as a vision to automate the mortgage industry is now a thriving public company with approximately $100 million in revenue and 300-plus employees. The steady upward trajectory has prompted Ellie Mae, a leading provider of business automation software for the U.S. residential mortgage industry, to increase its Hacienda headquarters footprint by 50 percent, for a total of 60,000 square feet.
These are not the only numbers that are going up. After an April 2011 IPO, last year Ellie Mae stock was the largest gainer on the New York Stock Exchange (NYSE), generating a 391 percent return for 2012, according to the Wall Street Journal.
That success, paired with a commemoration of the company’s 15th anniversary, was acknowledged in a marquee event. On Monday, February 4, Ellie Mae founder and CEO Sig Anderman and members of the executive team rang the 9:30 a.m. opening bell at the NYSE.
“We’ve been on an incredible journey since we wrote our initial business plan on the back of a menu in 1998,” Anderman commented on announcing the occasion.
Today, Ellie Mae technology serves approximately 67,000 mortgage professionals at thousands of banks, mortgage companies, and credit unions around the country, streamlining the origination and funding of mortgages. “Last year, the total volume of mortgages that ran through our Encompass360 mortgage management software was approximately three million loan applications, or 20 percent of all U.S. mortgage originations,” notes COO Jonathan Corr.
Corr attributes the admirable performance to several factors, starting with the benefits of Ellie Mae’s products. “Our on-demand, technology-enabled software solutions increase efficiency, facilitate regulatory compliance, and reduce documentation errors,” he points out. These advantages are proving especially attractive as the mortgage industry recovers.
The real key to success, however, is the Ellie Mae workforce. “This really goes to our team, which is passionate about our vision and our business model,” Corr continues. “When everyone is rowing in the right direction and you have the right value proposition for customers, you can really make things happen.”
In addition to a solid business model, Ellie Mae offers its employees several meaningful amenities. From a facility perspective, the company is focused on providing a productive and comfortable environment that allows its staff “to unwind in between the intensity.” Features include a very large kitchen, big screen TV, pool and ping pong tables, pinball machine, relaxation room with a massage chair “when you need to unplug a little,” library, and fitness room, plus an outdoor basketball net.
On the philanthropic side, the company has established EllieCares, a giving effort driven by employees. “The committee has complete control over selecting at least one activity every quarter to benefit a community nonprofit,” Corr says. EllieCares outreach has included cash and food donations to the Alameda County Community Food Bank and help to Habitat for Humanity in building affordable housing in Oakland, among many other projects.
“Giving back to the community is supported up and down the organization,” Corr relates. “We really believe it’s important.”
With January 2013 government figures confirming sales increases in the nation’s new and existing housing stock--up 8.8 percent and 12.8 percent, respectively, from a year ago—Ellie Mae technology solutions have much to contribute to the industry’s future growth.
For more information, visit www.elliemae.com.
Also in this issue ...
- Mortgage Automator Ellie Mae Expands, Celebrates Performance at the NYSE
- AFS: The Gathering Place Provides Homey Setting for Foster Visits
- Business Bits
- Executive Profile: Pandit Lathi, Pleasanton Business Solutions
- New geneLEAD Product Launch, OEM Agreement Keep Precision System Science Busy
- Silicondust Provides HD TV throughout the Entire Run of the Home
- Following a Strong Showing in 2012, Pleasanton is Poised to Continue as a Center of Economic Vitality
- Bring Your Sense of Humor to Axis April Fool's 5k Walk and Run April 7th
- Planning Underway for American Cancer Society's Relay For Life in July
- HR Professionals Build 'Real' Networks at Tri-Valley NCHRA Meetings
- Hacienda Online
- Hacienda Special Offers
- Hacienda Index