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Volume 18 - Number 9

May 2, 2014

Ellie Mae Won’t Compensate Lenders for Snafu

Technology vendor Ellie Mae will not compensate its mortgage customers for the recent shutdown of its loan origination software platform, which delayed closings nationwide, according to customers affected by the situation. But that doesn't mean the problem wonít cost Ellie Mae any money. During an earnings call this week, company executives said the firm will accelerate spending on technology upgrades, estimating that its total capital expenditures this year will range between ...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.