Qualia integration with Encompass by Ellie Mae accelerates development of a technology-enabled title insurance industry
SAN FRANCISCO, (Oct. 08, 2018) – Qualia, a real estate technology company that streamlines the home buying and selling experience, today announced a first of its kind integration with Ellie Mae’s Encompass® digital mortgage solution. This integration is the mortgage industry’s first two-way integration (“2WI”) with a title, escrow and closing software.
More than 35 percent of residential mortgages are processed on Ellie Mae’s Encompass Lending Platform, and Qualia’s integration gives them access to over a thousand of the nation’s leading title companies, further streamlining all residential, commercial, and refinance closing transactions.
Title companies who have activated the Qualia/Encompass 2WI are available within the Encompass LOS through the Qualia integration. One-click ordering will allow orders to be automatically prepared with information populated from the lender’s Encompass file eliminating the risk and errors inherent in manual intensive duplicative data entry processes.
Lenders and title companies will have the ability to seamlessly communicate, exchange information and share documents through Qualia’s SOC-2 and ISO 27001 certified secure platform.
This integration exemplifies why Qualia caught the eyes of venture capital firms that were searching for the next fintech and real estate tech disruptor. Earlier this year, Qualia closed $33 million in venture funding from investors including Menlo Venture Partners. The company has raised $40 million through its Series B round of financing which is being used to expand its team and technology to be the leader in the technology space advancing the Title Insurance ecosystem.
“With this integration, Qualia furthers its mission to drive the real estate industry forward,” says Nate Baker, CEO of Qualia. “We are delivering on the promise to positively disrupt the archaic lender and title company interaction with a high demand technology solution. This marriage of people and technology delivers the ideal customer experience.”
The 2WI is available today to all title companies on Qualia and all lenders using Encompass.
Qualia is completely redefining how homes are bought and sold by streamlining the home closing experience end-to-end in all 50 states and removing the stress from home buying. Qualia is a one-stop shop for every aspect of a real estate closing, bringing the entire real estate closing team (buyer, seller, title agent, lender, real estate agent) together on to one digital platform to increase understanding, visibility, and efficiency. Qualia was founded in 2015 by Inc 30 Under 30 Award recipients Nate Baker, Joel Gottsegen, and Lucas Hansen. Since launching, the company has been named as an ALTA Elite Provider and grown to over 100 employees. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX. For more information on Qualia’s title, escrow, and closing platform visit: www.qualia.com.