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Ultra-fine entity typing (UFET) predicts extremely free-formed types (e.g., president, politician) of a given entity mention (e.g., Joe Biden) in context. State-of-the-art (SOTA) methods use the cross-encoder (CE) based architecture. CE concatenates the mention (and its context) with each type and feeds the pairs into a pretrained language model (PLM) to score their relevance. It brings deeper interaction between mention and types to reach better performance but has to perform N (type set size) forward passes to infer types of a single mention. CE is therefore very slow in inference when the type set is large (e.g., N = 10k for UFET). To this end, we propose to perform entity typing in a recall-expand-filter manner. The recall and expand stages prune the large type set and generate K (K is typically less than 256) most relevant type candidates for each mention. At the filter stage, we use a novel model called MCCE to concurrently encode and score these K candidates in only one forward pass to obtain the final type prediction. We investigate different variants of MCCE and extensive experiments show that MCCE under our paradigm reaches SOTA performance on ultra-fine entity typing and is thousands of times faster than the cross-encoder. We also found MCCE is very effective in fine-grained (130 types) and coarse-grained (9 types) entity typing. Our code is available at \url{https://github.com/modelscope/AdaSeq/tree/master/examples/MCCE}.