First Data teams with Ellie Mae for lending payments
A new partnership between Ellie Mae and First Data will make it easier for Ellie Mae customers to accept payment for costs related to loan origination, processing, underwriting and credit reports, reports David Penn at Finovate.
First Data will integrate with Ellie Mae’s Encompass Consumer Connect lending platform. Part of Ellie Mae’s Digital Mortgage Solution, Consumer Connect enables borrowers to apply for mortgages online, engage with loan officers, and eSign and upload documents.
The technology provides lenders with a customised digital mortgage workflow. Ellie Mae will use First Data’s BluePay Gateway, part of the company’s CardConnect ISV platform, which helps companies add payment processing within Software-as-a-Service (SaaS), mobile, and POS apps.
Earlier this year, Ellie Mae teamed up with mortgagetech firm Blend, who will leverage Ellie Mae’s electronic disclosure delivery, part of its Encompass mortgage solution.
Also this spring, the company announced an integration with Lender Price, the digital mortgage platform from Cre8tech Labs, and partnered with Finicity. The agreement between the two companies will integrate Finicity’s digital verification of assets technology into Ellie Mae’s Encompass solution.
Headquartered in Pleasanton, California, and founded in 1997, Ellie Mae has more than 1,000 US-based workers and revenues in 2017 of $417 million.
The company works with 3,500 financial institutions and mortgage lending firms, and processes more than a third of all mortgage loan applications in the US.
Ellie Mae has a market capitalisation of $3 billion. Jonathan Corr is CEO.