This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ellie Mae Releases October 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 October 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™.


October 2012*

September 2012*

3 Months Ago (July 2012)*

6 Months Ago (April 2012)*
Closed Loans
Refinance     69%     65%     58%     56%
Purchase     31%     35%     42%     44%
FHA     19%     19%     24%     28%
Conventional     74%     72%     67%     62%
Days to Close
All     54     50     48     45
Refinance     57     53     48     47
Purchase     47     47     47     43
ARMs vs. Fixed, Length, Rate
ARM %     2.2%     2.6%     3.1%     5.1%
15 Year %     16.9%     17.3%     15.3%     18.4%
30 Year – Note Rate     3.671     3.773     3.870     4.151

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


Closed First-Lien Loans (All Types)

Denied Loans (All Types)
FICO Score (FICO)     750     706
Loan-to-Value (LTV)     78     87
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 .

To get a meaningful view of lender “pull-through,” Ellie Mae reviewed a sampling of loan applications initiated 90 days prior (i.e., the July applications) to calculate an overall closing rate of 54.5% in October 2012, compared to 50.5% in September 2012 (see full report).

“In October, the closing rate for refinances was 51.3%, up from 45.3% in September 2012, and the first time since we began our tracking, in August 2011, that the pull-through rate for refinances topped 50%,” said Jonathan Corr, chief operating officer of Ellie Mae. “The 30-year note rate on closed loans also hit a new low last month for our report, dropping to 3.671% in October 2012 from 3.773% in September 2012.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs