Season Sees New Flagship Software Release, Expansion, 1,000th Employee
Growth has been a constant for Hacienda's Ellie Mae, but this summer has seen a remarkable number of milestones set by the Hacienda-based software company, which provides a suite of tools to the residential mortgage industry. Its all-in-one mortgage management solution, Encompass, has been updated to include a number of new features; the company has doubled the size of its headquarters at Rosewood Commons with an expansion of well over 100,000 square feet; and its 1,000th employee was hired earlier this month.
Ellie Mae's Encompass all-in-one mortgage management solution enables banks, credit unions, and mortgage lenders to create and fund mortgages and improve compliance, loan quality and efficiency. The company's flagship product is licensed by almost 200,000 users and thousands of banks and mortgage lenders, including seven of the top 25 largest U.S. mortgage lenders. Improvements to the latest release, Encompass 16.2, include new integrations with Freddie Mac tools and enhancements to the Total Quality Loan (TQL) program, including strengthened strategic partnerships and updates to Encompass Product and Pricing Service (EPPS).
"The latest version of our Encompass all-in-one mortgage management solution will offer enhanced TQL capabilities, more customer choice with leading providers like First American Mortgage Solutions and DataVerify, and updates to the Encompass Product and Pricing Service," said Jonathan Corr, president and CEO of Ellie Mae. "And with this new release of Encompass, Ellie Mae is first to market with our integration with the new Freddie Mac Loan Product Advisor and Loan Quality Advisor, key elements of Freddie Mac's Loan Advisor Suite. This release incorporates their tools directly into Encompass, offering our customers greater certainty and more streamlined workflow."
Signs of the company's growth are apparent in other ways as well. In July, Ellie Mae signed an agreement to occupy additional office space at its headquarters in Hacienda. The expansion adds more than 143,000 square feet over four floors at Rosewood Commons, more than double Ellie Mae's previous 137,000 square feet.
"We are investing in our future," said Lisa Bruun, senior vice president of Administration. "We have continued to grow significantly since we first moved to our new headquarters in 2015. Now we're securing the space needed to build our workforce as we continue to build on the success that our team has already accomplished."
That growth is reflected in Ellie Mae's head count as well, which has increased 36 percent in the last year alone and 500 percent since its initial public offering in 2011. Earlier this month, the company hired its 1,000th employee, which they see as an important milestone.
"Ellie Mae is excited to welcome its 1,000th teammate," said Jonathan Corr, Ellie Mae president and CEO. "I look forward to working alongside this great team to continue on our mission to automate everything automatable in the residential mortgage industry. Together we are poised to propel Ellie Mae in achieving even greater accomplishments in the years ahead for our customers and shareholders."
It is no wonder why Ellie Mae is popular for job seekers. Earlier this year, the company was recognized as a 2016 Bay Area Best Place to Work by the San Francisco Business Times and Silicon Valley Business Journal. Ellie Mae also recently announced its title sponsorship of the Ellie Mae Classic, a PGA stop at TPC Stonebrae with the Warriors Community Foundation as the main charitable beneficiary, and was also ranked as a fastest growing company in North America on Deloitte's 2015 Technology Fast 500.
For additional information on Ellie Mae, visit EllieMae.com or call (877) 355-4362.
Photo: A group of new Ellie Mae employees. Photo courtesy of Ellie Mae.
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