ELLIE MAE and CMG Team-Up to Put Mortgage Brokers on the Internet

Business Wire, Jan 28, 2000

Business Editors

DUBLIN, Calif.--(BUSINESS WIRE)--Jan. 28, 2000

ELLIE MAE (Electronic Mortgage Affiliates), the leading provider of Internet solutions for the mortgage community, and CMG Mortgage Inc., a billion dollar national mortgage banking corporation based in Northern California, today announced that they are joining forces to provide a powerful Internet transaction platform for CMG's national network of loan originators, which will empower them to quickly and efficiently transmit loan applications directly to CMG for loan processing.

CMG Founder and CEO, Christopher M. George, noted: &uot;This partnership with ELLIE MAE places CMG Mortgage in the forefront of Internet technology. By utilizing this cutting-edge Internet 0000technology, we are giving our brokers the tools they need to make themselves more profitable and efficient in the new millennium.&uot;

As part of the platform, loan originators also will get an Ellie Mae Express Web site. This instant site can be up and running in minutes and comes complete with the loan officer's name, personalized message, calculators, rates and 1003 application download capabilities

-- all for a minimal monthly hosting fee.

&uot;Our mission is to empower mortgage brokers and originators with an Internet Platform that will allow them to take full advantage of the marketing and operational opportunities presented by the Internet. We're honored to be partnering with CMG, and believe the move further demonstrates our commitment to become the complete information highway between brokers and lenders,&uot; explained ELLIE MAE CEO, Sig Anderman.

ELLIE MAE hosts high-impact, customized, fully interactive Web sites for more than 200 loan originators across the country. ELLIE MAE's full-feature Executive Web site technology offers mortgage professionals a personalized Internet presence, complete with online loan application capability and in-depth pre-qualification, where customers have 24/7 access to the best mortgage rates from a wide variety of national lenders.

All executive sites also come with marketing tools and a unique refinance system called Mortgage Managera, which keeps brokers in front of clients and prospects by notifying them periodically about refinance savings opportunities. In business since 1993, CMG Mortgage, with headquarters in San Ramon, Calif., is the 11th fastest-growing privately held company in the Bay Area.

With more than 200 employees, 70 loan originators and six branch offices, CMG is licensed in 24 states and transacted more than a billion dollars in loan volume in each of the last two years. The company is approved with all the major agencies including FANNIE MAE, FREDDIE MAC, HUD, and VA, and has plans to expand into all 50 states by year-end.