Construction loan closing times drop after tech update: Ellie Mae

As a reminder, Ellie Mae has aligned our software updates with the appropriate tech nomenclature so we can be clear and consistent in our communication. The process in which you receive updates remains the same. To help you understand and prepare for releases and updates, please review the encompass product release Naming Conventions page.

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Encompass Consumer Connect: Product Overview Millennials are now closing loans at the fastest pace since March 2016, according to Ellie Mae’s latest Millennial Tracker. The average time taken to close a loan in February dropped to 44 days.

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Here’s another weekly installment of Do’s and Don’t’s for prospective borrowers. DO: Ask your agent about negotiating seller paid closing costs into your sales offer. DON’T: Inquire if your realtor.

Customization is another huge loan closing Ellie Mae releases latest update to Encompass mortgage solution – . only and construction-to-permanent loans within Encompass, including a construction management tool, blended and separate Know Before You Owe disclosures, federal and state compliance reviews and.USDA Requirements.

Closing times increased after effective date and many disclosure violations But in March 2016 (from Ellie Mae Origination Insight Report March 2016): Closing times drop to lowest level since March 2015 – 44 days The closing rate for purchase loans increased to 75.1%, the highest percentage since first tracking data in August 2011

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Construction loan closing times drop after tech update: Ellie Mae After launching construction lending support via Encompass in February, Ellie mae sees shrinking construction loan closing times and increased volume. Homebuilders Elina Tarkazikis August 3, 2017.

Update to UCD Collection Solution for B2B Gateway scheduled for July 13th. UCD partners directly integrated with UCD B2B service will experience a change to single sign-on authentication on July 13th. Once implemented, if any issues occur in production, immediately contact Fannie Mae Support to address any concerns.

After settling back around 46 days, the time to close a loan is starting to edge higher again, getting close to the yearly high, according to the latest Origination Insight Report from Ellie Mae.

Desktop Underwriter (DU) provides lenders a comprehensive credit risk assessment that determines whether a loan meets fannie mae’s eligibility requirements. Manage My Account If account is locked or deactivated, or you forgot your user ID, contact your Technology Manager administrator.