|April 2014*||March 2014*||6 Months Ago (October 2013)*||1 Year Ago (April 2013)*|
|Days to Close|
|ARMs vs. Fixed, Length, Rate|
|15 Year %||12.2%||12.4%||15.5%||15.3%|
|30 Year – Note Rate||4.622||4.604||4.750||3.808|
|Closed First-Lien Loans (All Types)||Denied Loans (All Types)|
|FICO Score (FICO)||726||690|
“Also, average days to close loans dipped below 40 for the first time since we’ve been reporting data, falling to 39 days in April 2014. That’s the third straight month that days to close a loan declined. The average days to close a purchase loan has fallen seven days since January 2014.“Looking at rates, the average 30-year rate on a closed loan increased for the first time since January, rising to 4.622 percent in April 2014.” About the Ellie Mae Origination Insight Report In 2013, approximately 3.5 million loan applications ran through Ellie Mae's Encompass mortgage management solution. The Origination Insight Report mines its application data from a robust sampling of approximately 57% of all mortgage applications that were initiated on the Encompass origination platform. Given the size of this sample and Ellie Mae’s market share, the Company believes the Origination Insight Report is a strong proxy of the underwriting standards that are being employed by lenders across the country. The Origination Insight Report focuses on loans that closed or were denied in a specific month and compares their characteristics to similar loans that closed or were denied three and six months earlier. The closing rate is calculated on a 90-day cycle rather than on a monthly basis because most loan applications typically take one and a half to two months from application to closing. Loans that do not close could still be active applications or applications withdrawn by consumers or denied for incompleteness or nonqualification. The Origination Insight Report details aggregated, anonymized data and does not disclose client-specific or proprietary information. News organizations have the right to reuse this data, provided that Ellie Mae, Inc. is credited as the source. About Ellie Mae Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Ellie Mae’s end-to-end Encompass® mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more. © 2014 Ellie Mae, Inc. Ellie Mae ® , Encompass ® , DataTrac ® , Ellie Mae Network ™, Total Quality Loan™, TQL™ and the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks or copyrights of their respective owners.