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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ellie Mae Releases November 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 November 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 NOVEMBER 2012

   

November 2012*

 

October 2012*

 

3 Months Ago (August 2012)*

 

6 Months Ago (May 2012)*

Closed Loans
Purpose
Refinance   68%   69%   61%   54%
Purchase   32%   31%   39%   46%
Type
FHA   19%   19%   21%   25%
Conventional   73%   74%   70%   65%
Days to Close
All   50   54   49   46
Refinance   51   57   51   48
Purchase   48   47   47   44
ARMs vs. Fixed, Length, Rate
ARM %   2.0%   2.2%   2.7%   4.3%
15 Year %   16.7%   16.9%   16.8%   17.6%
30 Year – Note Rate   3.600   3.671   3.763   4.116

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

 

PROFILES OF CLOSED AND DENIED LOANS FOR NOVEMBER 2012

   

Closed First-Lien Loans (All Types)

 

Denied Loans (All Types)

FICO Score (FICO)   750   707
Loan-to-Value (LTV)   79   86
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 August applications) to calculate an overall closing rate of 52.3% in November 2012, down slightly from 54.5% in October 2012 (see full report).

“The 30-year note rate on closed loans continued to decline, falling to 3.6% in November 2012 from 3.671% in October 2012,” said Jonathan Corr, chief operating officer of Ellie Mae. “The overall time to close decreased to 50 days last month mainly due to speedier closing of refinances, coming in at 51 days in November 2012, six days shorter than in October 2012.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs