This Day On The Street
Continue to site
ADVERTISEMENT
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 CEO: Mortgages Are Picking Up

Debra Borchardt: Where do you see your growth ahead, because we are starting to see a bit of a housing recovery right now?

Sig Anderman: Well, the mortgage business is always good. Sometimes it's great, but it's always good, and there are many parts of the mortgage process that still have to be automated. We only have one-third of the market, so we think there's plenty of room for us to grow.

Debra Borchardt: And what about the mortgage market right now? Are you seeing it pick up on your side?

Sig Anderman: Well, we see it anecdotally of course. We have three and a half thousand customers around the country, and they're telling us that business is picking up. We see that in our reports every day, so it looks like housing is recovering. New home starts are picking up, so we're very optimistic about the future of the housing industry and the future of the mortgage business.

Debra Borchardt: And do you have any guidance for your company?

Sig Anderman: We do. Our 2013 guidance we'll be announcing on our February 14 earnings call.

Debra Borchardt: And what is the one thing that you're most excited about your company that they've solved in this process?

Sig Anderman: Well two-thirds of the American public own their own home, and getting a mortgage or refinancing a mortgage is a very frustrating process, and we've cut out much of the labor and the inefficiency and time and money it takes to put that together just by moving papers around and documents and data around electronically. We've made a big dent, and it's very exciting that every year three or four million people are seeing the benefits of our technology, so that's a very exciting part of our business.

Debra Borchardt: Well I wish your product would have been around when I got my mortgage because the paperwork was at least an inch, two inches deep.

-- Written by Debra Borchardt in New York

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ELLI $70.68 -2.40%
AAPL $107.72 -4.47%
FB $87.23 -2.46%
GOOG $597.79 -3.31%
TSLA $238.63 -4.19%

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs