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TheStreet Open House

Ellie Mae CEO: Mortgages Are Picking Up

Stocks in this article: ELLI

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.
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