ELLIE MAE RELEASES NEW VERSION OF ENCOMPASS® MORTGAGE MANAGEMENT SYSTEM

New release of acclaimed loan origination software includes enhanced Good Faith Estimate and a new Lead Center to enhance productivity for mortgage professionals

DUBLIN, CA—May 2, 2005—Ellie Mae Inc., the award-winning provider of innovative software and services for the mortgage industry, today announced that it has released a new version of its acclaimed Encompass® Mortgage Management System. Encompass 2.2 includes a number of key new features to help loan originators improve their productivity.

Paramount among these new features is the enhanced GFE (Good Faith Estimate). The Encompass GFE was enhanced making it more intuitive for borrowers, improving its use as a sales tool, and improving the mortgage professional’s overall productivity. Borrowers find the new Encompass GFE easy to understand with its expanded list of itemized costs, its intuitively grouped sections, and its comprehensive summaries. The enhanced Encompass GFE improves productivity through many new features including auto-calculated yield spread premiums, easy-to-access closing cost summaries, and direct access to key loan fields and forms. Less time is needed to explain costs to borrowers, as costs are clearly itemized and summarized. California originators will benefit from automatic two-way synchronization between the GFE and the MLDS. Using the enhanced Encompass GFE, mortgage professionals will spend more time building customer relationships and less time working the details.

“The Encompass GFE is the main document our customers work with and provide to their customers to sell their products,” said Jonathan Corr, Senior Vice President, Products, “so these enhancements are key to helping loan originators improve their productivity. We’re proud of how Ellie Mae responds to our customers’ concerns; our customers asked for these enhancements, and we’ve delivered them.”

Real-Time Leads Now Inside Encompass

Also key to this release is the introduction of Ellie Mae’s Encompass Lead Center. Ellie Mae’s Lead Center is a very easy-to-use solution for delivering real-time leads to mortgage professionals right into the Encompass Contact Manager, allowing brokers and loan officers to easily access leads and turn them into new loans.

Loan officers and brokers can choose among several top-rated lead providers, including Alansis and BigMortgageLeads.com, who will deliver quality leads directly into the Encompass Contact Manager. The Lead Center permits Encompass users to sign up for leads based on selections and filters they define, from one or more of the providers. Leads are automatically distributed in real-time. The user receives email notification that new leads have been received, and then seamlessly delivers them into the Encompass Contact Manager where they can be managed and tracked.

The select group of lead providers chosen by Ellie Mae generate their own quality leads. “Quality leads” are defined as leads generated by a company that obtains its own leads through its website, affiliate websites, and by advertising and keywords, as opposed to those who simply buy mass mailing lists, “spam” customers, and the like. These three providers also limit the distribution of leads up to a maximum of four buyers, and deliver these leads in real-time, providing a high likelihood of conversion.

“Ellie Mae customers want to spend their time building customer relationships and closing loans, not struggling to create advertising campaigns that may or may not produce results,” said Jonathan Corr, Senior Vice President, Products, Ellie Mae. “Through the Lead Center, our customers can be assured that they are getting the best possible quality of leads from the experts in the lead generation industry—and that those leads are coming straight into their loan origination system for the easiest possible integration and quickest conversion into loans.”

Additional Highlights of Encompass 2.2

• Interest Only Loans offers a month selection, so users don’t need to leave the Borrower Summary when entering data, and an option for choosing the basis for the Qualification Ratio
• Contact Manager enables contacts to be searched based on marketing communication history
• My Loans search enables users that are higher in the organizational hierarchy to quickly focus on their loans
• Contact Export Lockdown allows administrators to restrict users from exporting their borrower and business contacts
• Loan officers can enter their license number in the settings so it can be automatically copied into their loan files
• Auto loan numbering now works at the organization level, enabling branches to have their own sequential numbers

Upgrades and Purchases
Encompass upgrades are free to customers with current maintenance agreements. To purchase Encompass, call 1-888-955-9100. Lead Center pricing varies depending on provider, filters requested, and other factors; some providers require minimum purchase. For more information, visit www.elliemae.com.

About BigMortgageLeads.com
Founded in 2002, BigMortgageLeads.com delivers thousands of fresh leads each month to mortgage lenders across the country. Leads are generated via NetMoneyWizard.com (www.netmoneywizard.com), a leading financial services marketplace that helps connect interested shoppers with top mortgage lenders. The company employs search engines, email marketing, affiliate relationships and sponsorships on major web portals to generate some of the highest quality leads in the industry.

About Ellie Mae, Inc.
Ellie Mae, Inc. is an award-winning provider of software and services for the mortgage ndustry, which has been recognized in each of the past three years as one of the fastest growing companies in the California Bay Area, and most recently has been named to the Inc. 500 list of America’s fastest growing private companies. Ellie Mae provides a comprehensive line of products and services including the company’s flagship Encompass® mortgage management system, Contour™ and Genesis™ loan origination software, Executive Web Sites for mortgage brokers, and Ellie Mae Docs services for document processing. Ellie Mae’s ePASS® Network is the mortgage industry’s online transaction platform enabling 40,000+ mortgage companies in the United States to easily do business online with leading lenders and nearly 100,000 settlement service providers. Ellie Mae is based in Dublin, California. To learn more about Ellie Mae, visit www.elliemae.com or call (925) 227-7000.