Encompass, Ellie Mae’s all-in-one mortgage management solution is set to partner with Built, tech provider of construction lending automation software. The integration aims to streamline loan servicing and processing by allowing Encompass users to manage construction loans from pre-closing through post-closing.
Simplified, the integration will connect borrowers, draw inspectors, and builders with loan lenders, mitigating risk in loan management by doing much of the processes online. Digital management of loans are seen to provide more efficiency to the whole process, connecting the diverse network of shareholders better.
An adaptive step
In the past few years, various softwares and apps have sprung up to assist real estate agents, realtors, mortgagors, and diverse professionals in the vast housing network in easing operations. However, the whole industry is not fast to adapt and most of the adjustments have been independent and isolated.
Although the housing sector seems to be slow at integrating tech into its dynamics, Built with Encompass presents a symbolic step that shows how the industry is finally embracing the benefits of new technologies in helping it achieve its goals. Encompass and Built’s seamless integration, for one, provides paperless management that could radically improve operational function from start to finish.
“We support what Ellie Mae continues to do for the industry and look forward to building a long-term relationship helping our mutual clients succeed,” Built President and CEO Chase Gilbert said.
The new, integrated technology will be made available to users this summer.
Encompass is an all-in-one, fully integrated solution that covers the entire loan lifecycle and provides one system of record. It automates and simplifies the mortgage process, giving lenders the power to close high-quality, compliant loans more efficiently, no matter what the industry or regulators do next. ~Ellie Mae website
Built provides web-based and mobile applications that help increase profitability attract and retain the best borrowers, reduce risk, and simplify compliance. ~getbuilt.com