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Ellie Mae Integrates With Fannie Mae Technology By Anthony Garritano Ellie Mae and Fannie Mae have agreed to integrate their e-commerce technologies to improve the way brokers submit loan data to lenders. As a result of the technology collaboration, Ellie Mae will expand its LenderConnect e-commerce solution for lenders by incorporating existing Fannie Mae technology to provide support for the transmission of loan data from Desktop Originator to lenders. Ellie Mae's LenderConnect technology, which is the new brand name for Ellie Mae's ClickLoan and ePASS technologies, is Ellie Mae's application, which enables electronic loan data submission to lender websites from the broker's loan origination system. As a result of the technology collaboration with Fannie Mae, LenderConnect will become the enhanced solution offered to lenders for receiving online loan submissions from brokers. Using the LenderConnect platform, brokers will streamline the way their loans are sent to lenders. Mortgage originators using either their own loan origination system or Desktop Originator on the Web through Fannie Mae can submit a complete loan file to the lender, including not just 1003 data, but also credit data and Desktop Underwriter findings. "We've had a long standing partnership with Fannie Mae," said Rich Roof, the senior vice president of strategic partnerships at Ellie Mae. "We started talking with them about combining the two platforms. This in no way diminishes DO or detracts from DO. In essence, what happens is originators have to go through several tasks to get the information needed to the lender. "As a result, the only place they could do that was from the LOS," he pointed out. "Prior, originators couldn't move data to DO to just do a rate lock. What we've said is that it doesn't manner where you are, you can send data from the LOS or DO and it will reach the lender. So, mortgage brokers can move back and forth from their LOS and DO to move 1003 data, credit data, etc. "With the integration of these platform does is give us the ability to provide synchronization of data," reported Mr. Roof. "The feedback from brokers and lenders is very positive. This will help them streamline in a down market. The bottom line is that this is going to be an important tool in facilitating the growth of e-commerce in the market going forward."

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