AI Foundry, a Wakefield, Massachusetts-based AI-optimized end-to-end mortgage solutions provider, as per last month reports, has entered into a partnership agreement with Ellie Mae, a Pleasanton, California-based mortgage finance software specialist. The said partnership laments how emerging digital technologies are making a sweep-over, transforming the operations in the modern mortgage industry. Furthermore, through this AI Foundry-Ellie Mae partnership mortgage applications will take mere hours rather than weeks for approval, accelerating the process for both lenders and customers.
The two companies, with their combined technology solutions, will focus on tackling the most labor-intensive and time-enduring aspects of the mortgage origination process. Together, the two firms – AI Foundry and Ellie Mae – plan to further improve efficiency and easy user compliance for the thousands of lenders who trust Ellie Mae’s Encompass digital mortgage solution.
“By integrating our technology with an innovative industry leader such as Ellie Mae, we can dramatically expand AI Foundry’s reach into lenders, and help them speed mortgage originations through increased productivity and accuracy,” says Clark Brett, VP of business development for AI Foundry. “For their customers, this translates into mortgage application approvals in hours rather than weeks.”
The Encompass platform with its new features and capabilities will provide users better processing efficiency along with much-improved risk and quality management.
“Our technology integration will provide the 3,000 mortgage lenders who use Ellie Mae solutions an onramp to Encompass that will significantly improve their productivity and drive their lending business forward,” adds Steve Butler, founder and GM of AI Foundry.