Ellie Mae to Issue Origination Insight Report on April 4th
03 Aprile 2012 - 2:30PM
Business Wire
Ellie Mae® (NYSE Amex:ELLI), a leading provider of enterprise
level, on-demand automated solutions for the residential mortgage
industry, announced today that the inaugural Origination Insight
Report, a new monthly report on the state of the origination market
will be released on Wednesday April 4th at 8:30 AM Eastern
Time.
The report will draw its data and insights from the large
sampling of the high volume of loan applications—more that 20% of
all originations in the U.S.—that flow through Ellie Mae’s
Encompass360® mortgage management software and the Ellie Mae
Network™. The report is particularly timely given that Spring marks
the start of the peak home buying season and, while interests rates
are currently at generational lows, purchase and refinance activity
has not increased to expected levels. Ellie Mae’s data and
commentary will provide insight into the level of difficulty in
getting or originating both purchase and refinance loans,
including:
- The average characteristics—FICO,
loan-to-value (LTV) and debt-to-income (DTI) ratios—for loans that
were closed or were denied in February.
- The prevailing underwriting standards
by loan type (purchase vs. refinance) and by agency (GSE vs.
FHA).
- The mix of purchase vs. refinance
activity, fixed vs. adjustable rate originations and mortgage
duration (30 vs. 15 year).
- Average time to close and prevailing
note rates.
- The closing ratio (“pull-through” rate)
for loans begun on the Encompass platform in the previous 90
days.
After tomorrow’s debut report, future Ellie Mae Origination
Insight Reports will be released on the third Wednesday of each
month and will examine data for the prior month. More detailed
analysis of closed and denied loans, by loan purchase and investor,
will be available on the Ellie Mae website at
http://www.elliemae.com/aboutus/about_reports.asp.
“Our goal in creating this new report is to add some metrics to
the anecdotal information about the origination market and what is
required to get a loan today,” said Jonathan Corr, chief operating
officer of Ellie Mae.
About Ellie Mae
Ellie Mae, Inc. is a leading provider of on-demand automation
solutions for the mortgage industry. The Company offers an
end-to-end solution, delivered using a Software-as-a-Service
model that serves as the core operating system for mortgage
originators and spans customer relationship management, loan
origination, and business management. The Company also hosts the
Ellie Mae Network™ that allows mortgage professionals to conduct
electronic business transactions with the lenders and settlement
service providers they work with, to process and fund loans. The
Company's offerings include the Encompass®, Encompass360® and
DataTrac® mortgage management software systems.
Ellie Mae was founded in 1997 and is based in Pleasanton,
California. To learn more about Ellie Mae, visit www.EllieMae.com
or call 877.355.4362.
© 2012 Ellie Mae, Inc. Ellie Mae®, Encompass®, Encompass360®,
DataTrac®, Ellie Mae Network™ 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.
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