Ellie Mae Releases May 2013 Origination Insight Report

Refinance-to-Purchase Mix Steady in May; High LTV Refinances Fell Below 10%


PLEASANTON, Calif. – June 19, 2013 – Ellie Mae® (NYSE: ELLI), a leading provider of enterprise-level, on-demand automated solutions for the residential mortgage industry, today released its Origination Insight Report for May 2013. The report draws its data and insights from a robust sampling of the significant volume of loan applications—more than 20% of all originations in the United States—that flow through Ellie Mae’s Encompass360® mortgage management software and Ellie Mae Network™.


MONTHLY ORIGINATION OVERVIEW FOR MAY 2013

 

May 2013*

April 2013*

3 Months Ago
(February 2013)*

6 Months Ago
(November 2012)*

Closed Loans

Purpose

Refinance

58%

58%

68%

68%

Purchase

42%

42%

32%

32%

Type

FHA

19%

22%

20%

19%

Conventional

72%

68%

71%

73%

Days to Close

All

44

46

50

50

Refinance

44

47

51

51

Purchase

45

44

47

48

ARMs vs. Fixed, Length, Rate

ARM %

  3.1%

  3.2%

  2.3%

  2.0%

15 Year %

16.4%

15.3%

16.8%

16.7%

30 Year – Note Rate

  3.747

  3.808

  3.723

  3.600

*All references to months should be read as month ended.


PROFILES OF CLOSED AND DENIED LOANS FOR MAY 2013

 

Closed First-Lien Loans (All Types)

Denied Loans
(All Types)

FICO Score (FICO)

743

701

Loan-to-Value (LTV)

79

84

Debt-to-Income (DTI)

23/35

27/44

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