Union Mortgage Group, a non-bank affiliate of Union First Market Bankshares, is the latest lender to subscribe to Ellie Mae's Web-based Encompass360 mortgage management solution.
The company, which originates more than $1 billion in mortgages annually, had been using multiple solutions prior to adopting the end-to-end system.
‘We wanted a loan origination system (LOS) that was fully integrated and had automated compliance so we could focus more time on our customers,’ says Rob Eastep, president and CEO of Union Mortgage Group, in a release. ‘When we saw the demonstration of Encompass360, the system sold itself. We've started the implementation and expect significant improvements in our day-to-day operational efficiency and customer service once the system is fully operational."
Union Mortgage Group, which serves Maryland, North Carolina, South Carolina and Virginia, evaluated other LOSs before ultimately selecting Encompass360.
With Ellie Mae's Success-Based (i.e., subscription-based) Pricing model, the company pays for the software based on the number of loans it closes each month.
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