Ellie Mae Releases August 2014 Origination Insight Report

Closing Rates for All Loans Rise to Highest Levels Since Tracking Began

PLEASANTON, Calif. – September 18, 2014 – Ellie Mae® (NYSE:ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, today released its Origination Insight Report for August 2014. The report draws its data and insights from a robust sampling of the significant volume of loan applications that flow through Ellie Mae’s Encompass® mortgage management software and the Ellie Mae Network™.

MONTHLY ORIGINATION OVERVIEW FOR AUGUST 2014

PROFILES OF CLOSED AND DENIED LOANS FOR AUGUST 2014

To get a meaningful view of lender pull-through, Ellie Mae reviewed a sampling of loan applications initiated 90 days prior (i.e., the May 2014 applications) to calculate an overall closing rate of 61.1 percent in August 2014, up from 57.7 percent in July 2014 (see full report).

“The closing rate in August was the highest since we began tracking this data three years ago: 61.1 percent for all loans and 65.1 percent for purchase loans,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “This was further indication that lenders are working every deal and making sure leads don’t slip away.

“The time to close rose slightly last month, going up to 39 days from 37 in July, and the percentage of purchase loans remained in the high sixties,” said Corr.

“The average 30-year rate declined for the fourth consecutive month, to 4.386 percent for all loans, which was materially lower than where we were a year ago when the average rate was 4.618 percent for all loans.”

About the Ellie Mae Origination Insight Report

In 2013, approximately 3.5 million loan applications ran through Ellie Mae's Encompass mortgage management solution. The Origination Insight Report mines its application data from a robust sampling of approximately 57 percent of all mortgage applications that were initiated on the Encompass origination platform. Given the size of this sample and Ellie Mae’s market share, the Company believes the Origination Insight Report is a strong proxy of the underwriting standards that are being employed by lenders across the country.

The Origination Insight Report focuses on loans that closed or were denied in a specific month and compares their characteristics to similar loans that closed or were denied three and six months earlier. The closing rate is calculated on a 90-day cycle rather than on a monthly basis because most loan applications typically take one and a half to two months from application to closing. Loans that do not close could still be active applications or applications withdrawn by consumers or denied for incompleteness or nonqualification.

The Origination Insight Report details aggregated, anonymized data and does not disclose client-specific or proprietary information.

News organizations have the right to reuse this data, provided that Ellie Mae, Inc. is credited as the source.

About Ellie Mae

Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s all-in-one Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.

© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®, DataTrac®, Ellie Mae Network™, Total Quality Loan™, TQL™ and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.

PRESS CONTACT

Bill Campbell
Campbell Lewis Communications
(212) 995-8057
bill@campbelllewis.com

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