|[April 12, 2012]
Ellie Mae Selects CoreLogic Risk Tools for Total Quality Loan Program
SANTA ANA, Calif. & PLEASANTON, Calif. --(Business Wire)--
CoreLogic® (NYSE: CLGX), a leading provider of information,
analytics and business services, and Ellie Mae® (NYSE Amex:
ELLI), a leading provider of enterprise level, on-demand automated
solutions for the residential mortgage industry, today announced that
the CoreLogic LoanSafe Risk Manager has been added to the due
diligence/quality assurance services integrated into Ellie Mae Total
Quality Loan™ (TQL) Program.
TQL is an initiative designed to further enhance the loan quality,
compliance and salability of loans that are originated through Ellie
Mae's Encompass360® mortgage management software system. TQL
offers a suite of services and secure, tamper-proof technology that
enables users to share the findings and data from those services with
investors and other stakeholders in the industry supply chain.
CoreLogic risk management tools are used to originate over 80 percent of
all mortgages initiated in the United States. LoanSafe Risk Manager has
two components: an automated collateral review tool that assesses
appraisal quality and evaluates the early payment default and loss
severity risk of each mortgage (LoanSafe Collateral Manager™);
and an industry leading fraud detection tool that employs patented,
pattern-recognition fraud scoring and unmatched consortium and data
alerts (LoanSafe Fraud Manager™). Both tools leverage the
vast property, loan and fraud databases of CoreLogic, the company's
automated valuation models, as well as data from the CoreLogic Fraud
Consortium Database of over 90 million loan applications. LoanSafe Risk
Manager provides lenders and investors with predictive collateral and
fraud risk scores and alerts. Large and small lenders select these
products for their predictability and ease of use.
In addition to LoanSafe Risk Manager, the other tools integrated into
TQL include: Ellie Mae's Encompass Compliance Service™, an automated
compliance service; the Encompass 4506-T Service™; and Fannie Mae's
EarlyCheck™, a delivery data check process that is being integrated, and
that identifies issues that could impair the loan's salability early in
the process and prior to loan delivery.
"e are extremely pleased that our LoanSafe offerings have been selected
as a mission-critical component of TQL," said Tim Grace, senior vice
president of Product Solutions at CoreLogic. "We believe that an
integrated, bundled offering, like Ellie Mae's TQL, will enhance the way
mortgages are originated, reviewed and sold."
"Ellie Mae has collaborated with a number of secondary market investors
to understand their needs while shaping the program," said Richard Roof,
Ellie Mae's senior vice president of Business Development. "Collateral
risk and fraud-detection are two of the must-have capabilities that have
been mentioned time and again, and investors asked to have the CoreLogic
risk tools integrated into TQL. As a result, we are very excited to add
the CoreLogic LoanSafe Risk Manager as a standard feature of TQL."
Roof added, "We are excited to expand our TQL capabilities: one of the
nation's largest investors went live on TQL in October and a number of
other large investors are actively evaluating the program, as are many
of our largest correspondent clients. TQL is an important initiative for
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and
property information, analytics and services to business and government.
The Company combines public, contributory and proprietary data to
develop predictive decision analytics and provide business services that
bring dynamic insight and transparency to the markets it serves.
CoreLogic has built one of the largest and most comprehensive U.S. real
estate, mortgage application, fraud, and loan performance databases and
is a recognized leading provider of mortgage and automotive credit
reporting, property tax, valuation, flood determination, and geospatial
analytics and services. More than one million users rely on CoreLogic to
assess risk, support underwriting, investment and marketing decisions,
prevent fraud, and improve business performance in their daily
operations. The Company, headquartered in Santa Ana, Calif., has more
than 5,000 employees globally. For more information visit www.corelogic.com.
CORELOGIC, the stylized CoreLogic logo and LOANSAFE are registered
trademarks owned by CoreLogic, Inc. and/or its subsidiaries. LOANSAFE
RISK MANAGER, LOANSAFE COLLATERAL MANAGER and LOANSAFE FRAUD MANAGER are
common law trademarks owned by CoreLogic, Inc. and/or its subsidiaries
and are part of the LoanSafe Product Suite. No trademark of CoreLogic
shall be used without the express written consent of CoreLogic. All
other trademarks are the property of their respective owners.
About Ellie Mae
Ellie Mae, Inc. 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 mortgage
professionals to conduct electronic 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
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.
© 2012 Ellie Mae, Inc. Ellie Mae®, Encompass®,
Ellie Mae Network™, Ellie Mae Total Quality Loan™ Program 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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