Ellie, E-Ops Create Fully Outsourced Automation

A partnership between Dublin, Calif.-based Ellie Mae and Miami-based E-Ops has formed the Encompass Processing Network to allow users to completely outsource loan processing.Ellie Mae said it believes the industry needs to focus more on volume and productivity and less on technology, and therefore more companies will be interested in outsourcing as much of the process as possible so they can concentrate on their core competencies of lending and generating business. Processors will submit a loan to E-Ops for processing seamlessly through Encompass in two mouse clicks. All relevant data and documentation will be added for processing, the brokerage will get e-mail status updates, and the completed loan will be automatically fed back to Encompass at the end of the mortgage cycle, Ellie Mae said. The companies can be found online at http://www.elliemae.com and http://www.eops.cc.