Ellie Mae, a cloud-based platform provider for the mortgage finance industry, is partnering with financial technology company COCC, Ellie Mae announced today.
Through the partnership, COCC will offer Ellie Mae’s Encompass all-in-one mortgage-management solution to banks and credit unions that are members of COCC. The program offers a digital mortgage experience covering the entire loan lifecycle so lenders can originate more loans, lower origination costs and reduce time to close.
“Our mission is to be a trusted partner, delivering secure, quality solutions that drive the success of financial institutions,” Matt L’Heureux, COCC's SVP and chief product officer, said in a press release. “Through this partnership, COCC will provide Ellie Mae’s Encompass solution to our clients to help give them more control with functions and applications that improve efficiency, enhance quality and ensure compliance.”
In the Ellie Mae community, there are 230,000 users and thousands of service providers. Ellie Mae’s millions of transactions per month touch approximately 30 percent of the residential loans originated in the U.S..
Founded in 1967, COCC is thought to be the fastest growing financial data processing company in the nation.
“We are delighted that COCC has chosen to partner with Ellie Mae to offer our Encompass loan origination solution to the banks and credit unions in its cooperative,” said Cathleen Schreiner Gates, Executive Vice President of Sales and Marketing at Ellie Mae, in the release. “By providing these financial institutions with Ellie Mae’s Encompass, they can leverage our technology to originate more loans, lower the cost to originate and reduce their time to close, all with the quality and compliance needed to meet the changing industry requirements.”