First Data partners with Ellie Mae to support the mortgage process

Online payment processor First Data has partnered with Ellie Mae to create a secure solution for processing mortgage and appraisal fees.

Together, the companies will integrate secure payment technology to the mortgage process, enabling Ellie Mae’s customers to accept payments for all costs related to lending, including loan origination, processing, underwriting, and credit reports.

Ellie Mae is an on-demand software solution and services developer for the mortgage industry. The California-headquartered provides banks, credit unions and mortgage lenders with a single platform to originate and fund mortgages. Clients can implement the technology to help with various processes such as compliance and document management, sales and marketing, underwriting and sales analytics.

Last year, the company reported a total revenue of $417m, and has a client base of 3,500 financial institutions and mortgage lending companies.

Through the partnership, Ellie Mae will leverage the BluePay Gateway, which was recently consolidated under First Data’s CardConnect service.

First Data is a global payments processor which supports small businesses, multi-nationals, and financial institutions with their transactions. Through the platform, a business can accept all types of transactions including chip and pin and contactless.

A variety of payment terminals are on offer including card machines, mini payment terminals, a mobile solution, and a payment station which also offers inventory tracking and other services – E-commerce payment services are also available.

First Data executive vice president Jeff Shanahan said, “First Data is thrilled to deliver our fast, simple and secure payment technology to the banks, credit unions, and mortgage lending companies Ellie Mae serves. Our relationship will enable Ellie Mae to deliver a simple and secure solution for its clients and further enhanced consumer engagement for lenders.”

Just this week, First Data was acquired by Deluxe Financial Services in a deal worth $93m.

Earlier in the year, Ellie Mae formed a partnership with Cre8tech Labs’ Lender Price. The agreement gives Ellie’s Encompass solution the capability to let lenders price and lock loans.

Copyright © 2018 FinTech Global

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