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(Graphic: Business Wire)

In the infographic, under “Purpose”, the average Refinance percentage for 2012 should be 62% (sted 69%) and the average Purchase percentage for 2012 should be 38% (sted 31%).

The release reads:

ELLIE MAE RELEASES DECEMBER 2012 ORIGINATION INSIGHT REPORT AND YEAR-END 2012 AVERAGES

Report Shows Strong Finish in 2012 with an Increase in Closing Rates and Days to Close

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 December 2012, as well as averages of key statistics for 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 DECEMBER 2012
                               
                December 2012*      

November 2012*
     

3 Months Ago (September 2012)*
     

6 Months Ago (June 2012)*
Closed Loans
Purpose
Refinance               69%       68%       65%       54%
Purchase               31%       32%       35%       46%
Type
FHA               19%       19%       19%       23%
Conventional               73%       73%       72%       67%
Days to Close
All               55       50       50       47
Refinance               57       51       53       47
Purchase               51       48       47       46
ARMs vs. Fixed, Length, Rate
ARM %               2.1%       2.0%       2.6%       3.3%
15 Year %               15.9%       16.7%       17.3%       15.8%
30 Year – Note Rate               3.609       3.600       3.773       3.992
 

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

PROFILES OF CLOSED AND DENIED LOANS FOR DECEMBER 2012
           
       

Closed First-Lien Loans (All Types)
     

Denied Loans (All Types)
FICO Score (FICO)       748       709
Loan-to-Value (LTV)       79       85
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 September 2012 applications) to calculate an overall closing rate of 54.7% in December 2012, up slightly from 52.3% in November 2012 (see full report).

“Closed conventional refinances with LTVs of 95%-plus, a strong indicator of HARP 2.0 activity, jumped up from 9.62% in November 2012 to 11.40% in December 2012, the highest it has been since we began tracking this data in October 2011,” said Jonathan Corr, chief operating officer of Ellie Mae.

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