PennyMac Selects Ellie Mae’s Next Generation Encompass Digital Lending Platform for Correspondent Channel
Summary
PLEASANTON, Calif.--(BUSINESS WIRE)--Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, today announced that PennyMac Loan Services LLC, a subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI) and currently the largest correspondent aggregator in the United States, will leverage Ellie Mae’s next generation Encompass™ Digital Lending Platform to support its correspondent business. PennyMac has long trusted Ellie Mae to deliver innovative technological solutions to support its tremendous growth. Based on a successful partnership dating back to 2008, PennyMac recently reached out to Ellie Mae to inquire about expanding that relationship. “Ellie Mae shares our vision for world-class customer service, and in creating a differentiated experience for all of our clients,” said Doug Jones, PennyMac Loan Services’ president. “We have valued our relationship with an industry leader like PennyMac, which has always been at the forefront of innovation,” said Jonathan Corr, president and CEO of Ellie Mae.