Ellie Mae has introduced a new online retail loan origination platform and a new portal for the tools and documentation supporting its Application Programming Interfaces.
The new platform, called Encompass Consumer Connect, is a self-service online loan origination platform for homebuyers. The platform is designed to minimize data entry while ensuring accuracy.
Encompass Consumer Connect allows lenders to automate and to authenticate data through integrated services, which should reduce the time to complete a loan application. The secure online borrower portal within the platform will also allow applicants to send and sign documents electronically.
The platform will also feature a responsive design that makes the platform easy to access and to navigate from any device, including tablets and smartphones. Lenders will be able to configure the platform to their specific workflow and include branding.
Additionally, Ellie Mae has released Encompass Developer Connect, which supports the APIs that allow the company's customers to expand Encompass to add new functions and to integrate the platform with other systems. Beyond its library of APIs and interactive documentation, the portal will feature a "playground" that will allow lenders to test APIs' functionality before taking them live.
The APIs that will initially become available to Encompass customers include ones that power loan data extraction and loan status notification systems, among others.
Developer Connect eventually will have a forum that will allow lenders' information technology staff to share best practices and use cases for the origination technology.