Ellie Mae Releases September 2013 Origination Insight Report
Purchase Loans Share Continues to Grow as Credit Standards Loosen
PLEASANTON, Calif. – October 16, 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 September 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 the Ellie Mae Network™.
MONTHLY ORIGINATION OVERVIEW FOR SEPTEMBER 2013
PROFILES OF CLOSED AND DENIED LOANS FOR SEPTEMBER 2013
To get a meaningful view of lender “pull-through,” Ellie Mae reviewed a sampling of loan applications initiated 90 days prior (i.e., the June 2013 applications) to calculate an overall closing rate of 52.3% in September 2013, down from 53.1% in August 2013 (see full report).