PennyMac Live on Ellie Mae’s Next Generation Digital Lending Platform for Correspondent Business Less Than One Year After Announcing Expanded Partnership
Ellie Mae, the leading cloud-based platform provider for the mortgage finance industry and now ICE Mortgage Technology, a division of Intercontinental Exchange, announced that PennyMac Corp., a subsidiary of PennyMac Mortgage Investment Trust and currently the largest correspondent aggregator in the United States, is live with Ellie Mae’s next generation Digital Lending Platform for its correspondent business.
Less than one year after announcing the expanded partnership in support of the correspondent channel, Ellie Mae partnered with PennyMac to quickly transition 100% of their seller community to their leading cloud-based platform. This move expanded PennyMac’s long standing relationship with Ellie Mae to consolidate its consumer direct, broker direct and correspondent businesses on a single platform. The speed and effectiveness of the delivery and implementation enabled PennyMac to ensure their continued leadership in the correspondent segment while providing “best in class” customer service and a modern user experience for operational efficiencies and savings across the organization.
“Delivering innovation to benefit our customers through a truly unique experience is what makes Ellie Mae a valuable partner to us,” said Doug Jones, PennyMac Corp.’s President. “Our speed to market and common vision enabled us to pioneer Ellie Mae’s next generation Digital Lending Platform. In less than a year, we’re live, giving us a cutting-edge opportunity to support all channels…driving lender technology, supporting industry growth, and most importantly, adding value for our customers.”
The Ellie Mae Digital Lending Platform empowers lenders and investors to engage homebuyers and efficiently originate, close, sell and purchase loans that maximize ROI across their business, all from a single system of record. The platform delivers a true digital mortgage experience throughout the loan origination workflow, for every channel, every loan transaction and every customer type.
“This is only the beginning,” said Joe Tyrrell, president, ICE Mortgage Technology. “PennyMac and Ellie Mae share a common vision to continually improve levels of efficiency and intelligent automation to offer a truly digital mortgage experience throughout the entire lending process. Our leading next generation platform approach has the ability to reshape the industry by providing a single network for every mortgage.”