CU Companies Mortgage Selects Encompass360

CU Companies, Mortgage Selects Encompass360

Ellie Mae's mortgage management solution provides enhancements

New Brighton, Minn (June 19, 2013) – CU Companies MORTGAGE announces it has selected Ellie Mae, a leading provider of enterprise-level on-demand automated solutions for the residential mortgage industry, and its Encompass360 product as its mortgage management solution.


Using Encompass360, the partnership CU Mortgage has with its users will be enhanced with the ability to have online loan status information, pipeline exporting capabilities to Excel, interfaces with other mortgage application programs, precise loan locking features, and a more simple method for inputting borrower information. Correspondent users will also experience faster document uploading as well as additional compliance support and data consistency checks. For retail users, CU Mortgage will complete a customized site--to include using the user's name as part of the subdomain. The Retail user chooses between a short or long application for their borrowers to input information, the user can then add their other products and links back to their main website. Their borrowers will also have access to a complete mortgage glossary, a variety of mortgage calculators, and a location to view current rates.


"We exist because our 66 owners and current 63 partners are looking for economies of scale to efficiently serve their marketplace. We saw an opportunity in making this change to improve that scale," said Steve Albers, CU Companies Senior Vice President. "We also saw that it improved the level of service we can provide those users. Our mission is to gain their loyalty through personalized service and this solution answers that."


CU Mortgage Account Executives will begin working with current users one-on-one to switch them from the current mortgage management program to Encompass360. They will also be available to current and new users for additional training and branding of the individual user sites for maximum usability.


CU Mortgage is part of the credit union service organization, CU Companies, and is a retail and correspondent mortgage lender operating currently in seven states in the Midwest. It funds approximately $33 million a month in loans and is currently servicing a portfolio of approximately $1.4 billion in loans.