Kroll Factual Data addition to Ellie Mae's Encompass360 to help lenders comply with Fannie Mae Loan Quality Initiative
Additional integrations include third-party verifications and risk mitigation services
LOVELAND, Colo.--(BUSINESS WIRE)-- Kroll Factual Data, Inc. ("Kroll Factual Data"), a leading provider of independent verification services to mortgage lenders, banks, credit unions and property management firms, and Ellie Mae, Inc., a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, announced today the addition of several Kroll Factual Data product integrations into Encompass360®, Ellie Mae's end-to-end residential mortgage management software solution. Kroll Factual Data's Loan Review Report (LRR), a product specifically designed to help clients comply with Fannie Mae's Loan Quality Initiative (LQI), became available February 7. Future Kroll Factual Data releases, all planned for the first half of 2013, will include Third Party Verifications and Risk Mitigation services. Kroll Factual Data Bureau Express Credit Reports and Flood Determination Reports are already integrated with Encompass360.
A primary focus of Fannie Mae's LQI is to stem the influx of repurchase demands by capturing critical loan data earlier in the lending process and validating it before, during and immediately after loan delivery. Kroll Factual Data's Loan Review Report is designed to simplify the process of identifying undisclosed liabilities, helping lenders comply with the guidelines established in the LQI and mitigate the risk of buy-back requests. As an independent verification tool, Loan Review Report is an efficient and cost-effective solution that includes a credit report, updated tradeline balances and a Mortgage Electronic Registration System (MERS) search.
"What is important to Kroll Factual Data is providing valuable solutions to the industries we support. Partnering with Ellie Mae and integrating our services like the Loan Review Report within Encompass360 will be very beneficial to our mutual customers, and we are very proud of this partnership," said Damon Littlejohn, Director Channels and Alliances at Kroll Factual Data. "With the heightened scrutiny from investors on the completeness and accuracy of information underlying loan decisions, having Loan Review Report available within Encompass360 is especially timely for lenders concerned with mitigating this risk."
Focused on the residential mortgage industry, Ellie Mae is a leading provider of enterprise-level, on-demand automated solutions. "Kroll Factual Data's customer-centric approach fits nicely with our commitment to delivering the best technology and services to automate and streamline the mortgage lending process," said Richard Roof, senior vice president of business development at Ellie Mae. "Integrating additional Kroll Factual Data loan quality solutions to Encompass360 will be a great benefit to the more than 73,000 mortgage professionals at the thousands of banks, mortgage companies and credit unions that utilize Ellie Mae technology."
About Kroll Factual Data
Kroll Factual Data is a trusted provider of independent verification services to mortgage lenders, banks, credit unions and property management firms. For more than 25 years, Kroll Factual Data has helped clients confidently make prompt, accurate decisions that mitigate risk, enhance safety and soundness, and increase profitability. By aggregating and analyzing information, Kroll Factual Data helps its customers protect its financial assets and make informed decisions. Kroll Factual Data is part of the Altegrity family of businesses. For more information, visit www.krollfactualdata.com.
About Ellie Mae
Ellie Mae, Inc. (NYS: ELLI) is a leading provider of on-demand automation solutions for the mortgage industry. The company offers an end-to-end solution, delivered using a software-as-a-service model that serves as the core operating system for mortgage originators and spans customer relationship management, loan origination and business management. The company also hosts the Ellie Mae Network™ that allows Encompass® users to electronically conduct business transactions with the lenders and settlement service providers they work with to process and fund loans. The company's offerings include the Encompass, Encompass360® and DataTrac® mortgage management software systems. Ellie Mae was founded in 1997 and is based in Pleasanton, California. To learn more about Ellie Mae, visit www.EllieMae.com or call 877.355.4362.
© 2013 Kroll. All Rights Reserved. Kroll is an Altegrity Company. Certain Altegrity companies provide investigative services. State licensing information can be found at www.altegrity.com/compliance.
© 2013 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®, DataTrac®, Ellie Mae Network™ and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.
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