Ellie Mae

Ellie Mae Inc., originally named Electronic Mortgage Affiliates,[1] is a software company that processes 35% of U.S. mortgage applications.[2] The services are based on a software as a service model (SaaS)[3] that streamlines and automates the process of originating and funding new mortgage loans and facilitating regulatory compliance. The company was founded in 1997 by Limin Hu and Sigmund Anderman, and is headquartered in Pleasanton, California.[4]

Ellie Mae, Inc.
Private
IndustryTechnology – Application Software
Founded1997 (1997)
HeadquartersPleasanton, California, U.S.
Key people
Sigmund Anderman
(Executive Chairman)
Jonathan Corr
(CEO)
ServicesAutomated solutions for the residential mortgage industry
Revenue US$417.04 million (2017)
US$42.14 million (2017)
US$52.85 million (2017)
Total assets US$831.61 million (2017)
Total equity US$735.34 million (2017)
OwnerThoma Bravo
Number of employees
approx. 1,750 (2020)
WebsiteEllieMae.com

Acquisitions
  • Online Document Systems Inc. (2008)
  • Mavent Inc. (2009)
  • Del Mar DataTrac (2011)[5]
  • Mortgage Pricing Systems (2011)
  • MortgageCEO (2014)[6]
  • ARG Interactive (2014)[7]
  • AllRegs (2014)[8]
  • MortgageReturns (2015)
  • Velocify (2017)
  • Docvelocity (2019)
  • Capsilon (2019)[9]

Operations

In August 2020, Intercontinental Exchange announced that it had entered into a definitive agreement to acquire Ellie Mae for approximately $11 billion.[10]

In April 2019, Ellie Mae was acquired by Thoma Bravo, LLC, a private equity investment firm, in an all-cash transaction that valued Ellie Mae at an aggregate equity value of approximately $3.7 billion. The acquisition was announced on February 12, 2019 and closed on April 17, 2019. In January 2014, Ellie Mae finally completed the acquisition of MortgageCEO (focusing on CRM).[11] Also in January 2014, Ellie Mae completed the acquisition of ARG Interactive, LLC.[12] In 2008 Ellie Mae acquired the assets of Online Document Systems Inc. from Stewart Lender Services Inc. Since 2008 it has acquired Mavent Inc. (2009), Del Mar DataTrac (2011), Mortgage Pricing Systems (2011), MortgageCEO (2014), and AllRegs, an Eagan, Minnesota-based information provider for the mortgage industry (2014).[13][14]

In September 2013, Ellie Mae introduced the updated mortgage-management system Encompass360 to help underwriters comply with the latest federal mortgage rules in beginning in 2014. This system features debt-to-income calculators, discount assessment, and tools for evaluating a given loan's quality.[15]

In 2009, Ellie Mae was accused by DocMagic, a competitor, of violating antitrust and intellectual property laws around actions taken when the vendor agreement between the two companies expired. The two companies settled the lawsuit after three years of litigation.[16]

Products and services

The company's Ellie Mae Network connects mortgage lenders, investors, and service providers. The Ellie Mae Network provides Encompass to combine loan origination, business management, and customer relationship management. Encompass solutions include the Ellie Mae TQL Services tool (within Encompass for fraud detection, valuation, and risk analysis), Encompass CenterWise (a bundled offering of Encompass WebCenter and Encompass Enterprise Document Management (EDM)), Encompass WebCenter (providing professional websites), Encompass TPO WebCenter (web-based extension of Encompass for third-party originators), Encompass Docs Solution, Encompass Compliance Service, Encompass Product and Pricing Service, and Encompass 4506-T Service (tax transcript services).[17]

gollark: I learned how to exit vim ages ago.
gollark: Well, I have 5 things you can vaguely consider computers. Everyone is identical to me, of course. And I've met more than 200 people. QED.
gollark: There are more than *1000* computers in the world right now, you know.
gollark: I mean, computers are quite popular.
gollark: They probably *should* learn how to computer at least a bit, but...

References
  1. Pender, Kathleen (June 20, 2015). "Ellie Mae thrives on mortgage regulation". San Francisco Chronicle. Retrieved August 12, 2020. The company ... was founded as Electronic Mortgage Affiliates, but changed its name to Ellie Mae at a time when Fannie Mae was one of the nation's most admired companies.
  2. Howley, Kathleen (October 30, 2014). "Ellie Mae Soars 44% as Home Lenders Embrace E-Signatures". Bloomberg.com. Retrieved May 22, 2015.
  3. "Business Summary".
  4. Staff. "Ellie Mae". Forbes.com. Retrieved May 22, 2015.
  5. "Ellie Mae acquires Del Mar DataTrac". Business Wire. August 15, 2011. Retrieved July 13, 2020.
  6. "Ellie Mae Completes MortgageCEO Acquisition". Business Wire. January 15, 2014. Retrieved April 30, 2020.
  7. "Ellie Mae Completes Acquisition of MortgageCEO". Benzinga. January 15, 2014. Retrieved July 13, 2020.
  8. "Ellie Mae to Acquire AllRegs". Business Wire. August 7, 2014. Retrieved July 13, 2020.
  9. "Ellie Mae to Acquire Capsilon to Deliver End-to-End Mortgage Automation". Business Wire. October 28, 2019. Retrieved April 30, 2020.
  10. "NYSE-owner ICE to buy Ellie Mae in $11 billion deal". Nasdaq.com. August 6, 2020.
  11. "Ellie Mae finalizes MortgageCEO acquisition".
  12. "Company Description".
  13. "Ellie Mae Set to Acquire AllRegs". August 7, 2014.
  14. "Eagan-Based Mortgage Info Provider Sold for $30M".
  15. "Ellie Mae to Update Mortgage Platform for New Mortgage Rules".
  16. Kilgore, Austin (October 10, 2012). "DocMagic, Ellie Mae Settle Lawsuit". Retrieved May 22, 2015.
  17. "Company Full Description".
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