PHH Mortgage Corp., a subsidiary of PHH Corp., has been added as a lender to Ellie Mae's Encompass360 Select program, which Ellie Mae says provides a proactive two-way flow of communication between preferred Encompass customers and PHH Mortgage.
After customers input loan information into Encompass360, the information is matched against pre-determined PHH Mortgage loan criteria, and the pricing for the loan is automatically presented on the customer's Encompass360 screen, the companies explain.
Customers that are pre-approved by PHH Mortgage can also upload loan applications into the PHH Mortgage Speedy Online Application and Response loan origination system, lock loans and check loan status in real time. The program provides approved customers with seamless synchronization between all loan submissions to PHH Mortgage and the loan conditions and data that are stored in the customer's Encompass360 system.
‘This relationship is only being offered to a group of preferred Encompass360 customers that have demonstrated their ability to write the quality of business that aligns with PHH Mortgage's standards," Mike Dirrane, executive vice president of sales at PHH Mortgage, says, adding that the integration simplifies the process for clients selling loans in the secondary market.
Encompass360 Select customers that are not pre-approved by PHH Mortgage may apply through its streamlined application process and will receive a decision in as few as five business days, Ellie Mae and PHH Mortgage say.
SOURCE: Ellie Mae