Ellie Mae to improve digital lending capabilities with new acquisition

Ellie Mae, a cloud-based provider for the mortgage finance industry, has agreed to acquire Capsilon to enhance its end-to-end SaaS solutions.

The acquisition will accelerate Ellie Mae’s mission of supplying the mortgage industry with a digital solution by powering its Encompass Digital Lending platform with Capsilon’s AI technology.

With the combination of the services, mortgage lenders, investors and services can increase productivity by automating critical business processes to. Capsilon IQ is leveraged by the mortgage sector to automate mortgages by collating and analysing data from various sources to enhance decision making.

The company recently released its Instant Underwriter service, an autonomous underwriting engine which uses AI, data extraction, and process automation to complete underwriting within seconds, it claims.

Ellie Mae president and CEO Jonathan Corr said, “With the delivery of our next generation lending platform, we are accelerating our mission to automate everything automatable for the residential mortgage market. This includes making strategic acquisitions of best-in-class solutions to bring more value to the platform and the ecosystem faster.”

Ellie Mae is an on-demand software solution and services builder helping banks, lenders and credit unions to improve underwriting, document management, and sales analytics, among other services.

Its Encompass solution is specifically designed to help lenders and investors better engage with homebuyers, and originate, close, sell and purchase loans.

Capsilon CEO and founder Sanjeev Malaney said, “By joining forces with Ellie Mae, we are excited to extend our capabilities and deliver unprecedented functionality through deep integrations with the Encompass Digital Lending Platform. This will help lenders leverage automation from consumer engagement through investor delivery and servicing. We believe this combination will offer value to all of our customers and integration partners, regardless of LOS or servicing platform.”

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