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Sollen Technologies integrates its PPE into Ellie Mae's Encompass.

Sollen Technologies LLC, Dallas, an Internet-based application services provider of product, pricing and best-execution capabilities for the mortgage industry, has integrated its Lender Online product and pricing engine (PPE) into Ellie Mae Inc.'s Encompass[R] Mortgage Management Solution.

This integration provides Encompass users with direct, seamless access to Lender Online, with all pertinent information automatically and directly transmittable from the user's Encompass system into the Web-based PPE.

With Lender Online's multi-channel, multi-lender product and pricing information, loan originators can verify borrowers' eligibility for products based on their specific needs, provide real-time fully adjusted pricing, and compare multiple products across different searches--now directly from their Encompass systems, without having to close one program and launch another, and without having to re-enter any information.

"We have to remember that we're coming out of a market where borrower confidence within the mortgage segment is marginal, at best," said Michel Van Hee, Sollen Technologies' chief executive officer.

"For originators, having access to accurate product and pricing information within a matter of a few seconds is critical to restoring borrower confidence. Each time a borrower needs to wait to find out an answer and each time an originator has to retract information that was previously presented, [it] can result in a negative impact on whether that prospect ever becomes a client. This integration will help mutual users of the Encompass Mortgage Management Solution and Lender Online to give borrowers the fast, accurate answers that help solidify current and future transactions," he said.

In today's environment of rapidly changing regulations and guidelines, lenders are finding that accurately evaluating a borrower requires more than simply giving the right rate at the right time.

"This interface allows Encompass users to easily leverage Lender Online's up-to-the-minute pricing and accurate product guideline information," said Van Hee. "This interface also empowers users to more quickly and accurately evaluate transactions according to current guidelines and regulations. Originators can use this information to not only access the right rate, but also demonstrate loan program benefits and compare and contrast a variety of scenarios for borrowers. In a competitive market like the one we're in, that level of information can be a huge differentiator for originators."

Once the customized Web site is implemented by Sollen's customer service team, users can simply begin realizing the benefits of the system. Lender Online makes sure that the rates and guidelines are constantly updated and available instantaneously.

"Today it's more important than ever for mortgage companies to leverage the tools that help them gain a competitive advantage," said Jonathan Corr, Ellie Mae's chief strategy officer. "At Ellie Mae, it's a big part of our focus to constantly provide Encompass users with an ever-growing choice of high-quality, business-enhancing solutions. We're very pleased with Sollen Technologies' integration to the Encompass Mortgage Management system, and to provide our Encompass users with easy access to Lender Online."

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Title Annotation:Tech Newz; product and pricing engine
Comment:Sollen Technologies integrates its PPE into Ellie Mae's Encompass.(Tech Newz)(product and pricing engine )
Publication:Mortgage Banking
Date:Sep 1, 2009
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