Ellie Mae Releases September 2012 Origination Insight Report

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 2012. 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 SEPTEMBER 2012

		September 2012*		August 2012*		3 Months Ago (June 2012)*		6 Months Ago (March 2012)*
Closed Loans
Purpose
Refinance		65%		61%		54%		61%
Purchase		35%		39%		46%		39%
Type
FHA		19%		21%		23%		28%
Conventional		72%		70%		67%		64%
Days to Close
All		50		49		47		42
Refinance		53		51		47		42
Purchase		47		47		46		42
ARMs vs. Fixed, Length, Rate
ARM %		2.6%		2.7%		3.3%		4.2%
15 Year %		17.3%		16.8%		15.8%		20.2%
30 Year – Note Rate		3.773		3.763		3.992		4.080

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

PROFILES OF CLOSED AND DENIED LOANS FOR SEPTEMBER 2012

			Closed First-Lien Loans (All Types)			Denied Loans (All Types)
FICO Score (FICO)			750			704
Loan-to-Value (LTV)			78			88
Debt-to-Income (DTI)			23/34			27/44

More information and analysis of closed and denied loans by loan purpose and investor are available in the full report at http://www.elliemae.com/aboutus/about_reports.asp .

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 applications) to calculate a closing rate for September 2012, which was 50.5%, compared to 47.8% in August 2012 (see full report).

“In September, the share of conventional loans continued to outpace FHA loans,” said Jonathan Corr, chief operating officer of Ellie Mae. “During the past six months, FHA loans have dropped from 28% to 19% while conventional loans have risen from 64% to 72%. This is mostly likely the result of HARP 2.0 initiatives as well as increases in FHA insurance premiums that took effect in April 2012.

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