Ellie Mae going private in $3.7B deal
- BySeeking Alpha
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ICE Mortgage Technology, Inc. develops and provides a cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management. The company also offers Ellie Mae Digital Lending Platform, which helps lenders and investors across their workflow from prospective customers to the point of loan delivery; Encompass Developer Connect, which provides developers with documentation and tools supporting its application programming interfaces; Ellie Mae Marketplace, which enables lenders to find, engage, and connect with the partner network; and Ellie Mae AIQ Credit Analyzer, which automates the credit evaluation and due diligence reviews when underwriting a loan. In addition, the company provides education and training; professional and technical support; and loan product, policy, and guideline data and analytics services. ICE Mortgage Technology, Inc. was formerly known as Ellie Mae, Inc. and changed its name to ICE Mortgage Technology, Inc. in April 2021. ICE Mortgage Technology, Inc. was founded in 1997 and is based in Pleasanton, California. As of September 4, 2020, ICE Mortgage Technology, Inc. operates as a subsidiary of Intercontinental Exchange, Inc.