Mortgage

Tyrrell will lead ICE Mortgage Know-how when Corr retires from Ellie Mae

Jonathan Corr, CEO of Ellie Mae, announced his retirement in a blog post on the company's website on Friday. It did so following the closing of the company's sale on Intercontinental Exchange last week.

"As my personal chapter with Ellie Mae comes to an end, the story of Ellie Mae continues," Corr wrote. "If we turn the page, we have great opportunities ahead of us. An entire industry expects us to automate everything. We will help lenders run and grow their businesses, and at the same time change the way credit is granted. change forever. Not only are we uniquely positioned to make the vision of a true digital mortgage a reality, but we are the only ones who can make it happen. "

Joe Tyrrell is the new President of ICE Mortgage Technology.

Joe Tyrrell, Ellie Mae's Chief Operating Officer since 2019 and Executive Vice President since 2013, is now President of ICE Mortgage Technology, a division that will also oversee MERS and Simplifile. MERS is an electronic mortgage registration system, and Simplifile is a provider of digital closing services.

Tyrell has held various positions with Ellie Mae since 2002. Corr also joined Ellie Mae in 2002 as Chief Strategy Officer. He was later promoted to President and Chief Operating Officer in 2011. Four years later, he succeeded company founder Sig Anderman as CEO.

"With Joe as head of the organization and with MERS and Simplifile as well as the support of ICE, we will definitely reach our north star of automation," Corr wrote.

Chris McEntee will lead corporate development for ICE Mortgage Technology.

Under the leadership of Anderman and Corr, Ellie Mae made a number of strategic acquisitions in the market before it was acquired by Thoma Bravo and later by ICE.

From the beginning of the 2000s, Ellie Mae was able to accelerate her acquisition activities after the IPO in 2011 with the acquisition of the competing mortgage providers Genesis 2000 and Contour. In the following years she subsequently acquired AllRegs, Mortgage Returns and Velocify.

But in 2019 Corr took the company private and sold it to Thoma Bravo.

"I don't have to worry about short-term profits and analysts fixated on that penny or that penny or sales growth at any cost and focused on creating great products for customers, customer success, and profitability," Corr said in one Interview with National Mortgage News after the deal.

Under Thoma Bravo's ownership, Ellie Mae bought Capsilon, an artificial intelligence company.

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