Monona State Bank, a full-service community bank with three branches in Wisconsin, is now using Ellie Mae's Encompass360 as its mortgage management solution.
Encompass360 replaces multiple legacy systems the bank was using.
‘When we learned that our prior doc prep system would no longer be available at the end of the year, we decided to make the move to one end-to-end solution,’ says Marcia Howe, senior vice president of mortgage lending at Monona State Bank.
Last year, Monona State Bank originated approximately $130 million in first mortgages. The approved servicer for Freddie Mac is currently servicing approximately $295 million in mortgages.
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