Ellie Mae Now Offering Flood Services With Loan Program

Ellie Mae, a provider software solutions and services for the residential mortgage industry, has added the Encompass Flood Service into its Total Quality Loan (TQL) program.

According to Ellie Mae, the full integration with TQL simplifies workflow and increases speed and automation: Users can now order basic and life-of-loan flood certifications directly from the TQL tool without leaving the loan file or logging into another provider's website.

Encompass Flood Service automatically populates more than a dozen key data elements, as documented in the flood certificate, and returns the certification to the borrower's electronic loan file and can transfer both the data and certification, along with additional required documentation, directly to an investor.

Lenders now also have the capability to order related/refinance determinations – a cost-effective solution when a second record is needed for piggyback loans, says Ellie Mae.

The service also provides special property determinations for non-resident dwellings that may fall into special flood hazard areas, as well as life-of-loan determinations for portfolio lenders that service their loans in-house.

"One of the top reasons that clients tell us their loans contain suspense conditions is due to missing flood certifications. Our Total Quality Loan program's best practice workflow now directly addresses this issue by incorporating the ordering of flood services," says Jonathan Corr, president and chief operating officer of Ellie Mae.


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