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Your Personal Loan Services Network Hub
Ellie Mae's ePASS (Electronic Processing and Submission System) seamlessly connects your loan origination software to the world of online lenders and settlement service providers. It enables you to manage a network of lenders, GSEs, and providers from your own personal network hub—your ePASS home page—increasing loan productivity and lowering the cost of doing business dramatically.
Using ePASS, you can:
- Define your network of preferred providers*
- Connect with them in a single click
- Order credit
- Order settlement services
- Deliver loan file data
- Receive AU decisions
- And much, much more
Best of all, it's completely FREE to loan originators.
*Drawing from a comprehensive provider pool that includes more than 250 wholesale lenders, 90,000 settlement service vendors, and all automated underwriters.
The ePASS Network Effect
The "network effect," a phenomenon made famous by Microsoft and the Internet, is the process by which something becomes more valuable as more and more people use it. ePASS is a classic example of the power of the network effect. When new mortgage professionals register as ePASS users, the value of the portal to existing users and partners grows…and grows…and grows.
Since ePASS is the original Internet portal dedicated to mortgage origination professionals, the number of originators and service providers using its services is rapidly approaching the total number of such professionals who use the Internet. The value of ePASS to each of them is thus approaching the maximum possible network effect.
But since overall Internet use continues to grow—and more mortgage professionals go online every day—the value of ePASS also continues to grow.
The benefits of this are substantial for all who use ePASS:
- Loan Originators - Loan originators who join ePASS (at no cost) reap the benefits of participating in a network that has reached and surpassed critical mass—helping them to realize immediate gains in productivity, efficiency, competitiveness, and profitability.
- Lender Partners - Lenders participating in the ePASS partner program tap into a huge, technology-enabled marketplace, integrating their technology with loan-origination desktops, growing market share cost-effectively, and increasing their levels of service.
- Service Partners - Settlement service providers participating in the ePASS partner program also become part of a huge online marketplace, streamlining sales, increasing transaction speed and volume, and reducing their costs per loan.
ePASS: The Universal Translator
Software—both professional and consumer—is designed to do specific jobs better than can be done without it. Because jobs are often complex and specialized, however, software also tends to be complex and specialized. The result is programs that do specific jobs beautifully but don't talk to each other very well—or at all.
The ePASS Business Center is a universal translator that enables different software to communicate clearly and quickly, bridging the gap between conflicting technologies to move data back and forth between programs as easily as it moves within them.
Using ePASS, loan originators:
- Identify the loan file they want to send (one click)
- To whom they want to send it (one click)
- And what they want done to or with it (one click)
ePASS then:
- Automatically identifies and extracts the data the recipient needs
- Reconfigures it to so that it is compatible with the recipient's system
- Places it in the appropriate "bucket" in the recipient's system
All this happens invisibly in the background saving users:
- About 15 minutes on every transmission to a lender (compared to other types of electronic file transfer, more time when compared to faxing)
- About 5 minutes on every transmission to a settlement service provider (every loan includes at least 10 such file transfers)
- At least an hour of total processing time on every loan file
ePASS also empowers originators, lenders, and service providers by giving them immediate feedback and real-time file status.
If you have questions regarding ePass or Encompass, please call Robert Madsen at 800-576-6350 (Riverside, California)
 Request Info  Contact Robert
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