Credit equity home line mortgage second

Business Editors

Mortgage Bankers Association of America 2003 Annual Convention

and Expo

DUBLIN, Calif.--(BUSINESS WIRE)--Oct. 28, 2003

Ellie Mae(R) Inc., the leading provider of desktop and Web-enabled productivity solutions and software for the mortgage industry, announced recently at the Mortgage Bankers Association (MBA) of America 2003 Annual Convention and Expo, the availability of a Home Equity Line of Credit (HELOC) and Second Mortgage Center through ePASS(R), the company's industry-leading Web transaction platform.

The HELOC and Second Mortgage Center provides simple, direct access to third-party originators for automated lender searches and seamless submission of home equity loan applications. It offers mortgage originators access to a wide range of products from a number of lenders who offer a variety of programs. The broad selection provided by the center enables originators to select the best product to suit their needs in a matter of minutes. Once the product is matched to a borrower's specifics, a loan application can electronically be sent directly to a lender, from the Center, in as few as two clicks.

Participating lenders are linked from their ePASS storefront directly to the originator's desktop, and key lender guidelines are displayed for quick reference and linked to full underwriting guidelines. Initially, the participating lenders will include IndyMac Bank, GreenPoint Mortgage, DeepGreen Bank, Aames Direct and Saxon Mortgage. Seamless loan submission access is provided through the secure ePASS platform. Key settlement services for HELOC and Second Mortgages including Fair Isaac Company (FICO) scores and automated valuation models (AVMs) are also readily accessible to ensure quality production. Additionally, mortgage originators will be able to conveniently apply for new broker approval from participating lenders online.

"We believe that the HELOC-Second Mortgage Center is a win for both us and for brokers," said Frank Sillman, executive vice president of Mortgage Sales and Marketing for IndyMac Bank. "It will help brokers understand IndyMac's great strength and knowledge with these products. We expect an increase in high quality business from the exposure and attention the new center will provide."

"As the market changes, home equity and second mortgage loan products are rapidly becoming a strategic product offering," said Sig Anderman, chairman and CEO of Ellie Mae. "Brokers already play a key role as trusted advisors to their clients, and by adding this functionality to ePASS, we are providing them with a fast and easy way to help improve client retention and generate new sales from new clients. From 'paperless' HELOC originations to fully automated approvals, the direct link between ePASS and home equity second mortgage lenders will save mortgage originators time and money by reducing the entire application process. The end result enables brokers to match products to the specific needs of their clients with the most competitive rates and terms available in the marketplace."

About Ellie Mae

Ellie Mae, Inc., the leading provider of desktop and Web-enabled mortgage-industry productivity solutions and software, helps automate the loan-origination process from lead to close. Recently awarded the 2003 Inman Innovator Award for the most innovative company in the mortgage industry, Ellie Mae recently announced the upcoming availability of its newest product, Encompass(TM), the first enterprise-level mortgage management system with individual loan officer, processor and brokers workspaces in a single system. Ellie Mae's ePASS Web-transaction portal is the industry standard, connecting 27,000 third-party mortgage origination companies to more than 250 wholesale lenders and 90,000 settlement service providers - enabling them to eliminate redundant work, close loans faster and reduce loan-origination costs. Ellie Mae products also include Executive Web Sites for automated lead generation and marketing, Contour and Genesis loan origination software and Ellie Mae Docs for speedy, error-free electronic closing documentation. To learn more about Ellie Mae, call (888) 955-9100 or visit www.elliemae.com.

Ellie Mae(R), Encompass(TM), ePASS(R), ClickLoan(R), Contour(TM), Genesis(TM), Executive Web Sites(TM), and Ellie Mae Docs(TM) are the sole property of Ellie Mae, Inc.