December Origination Insight Report From Ellie Mae Shows Refinances Rise to 40 Percent of Total Closed Loans; Closing Rates Increase for All Loans
ELLIE MAE (ELLI)
Last ellie mae earnings: 2/14 08:00 am
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Source: Business Wire
PLEASANTON, Calif.--(BUSINESS WIRE)-- The percentage of refinances rose to 40 percent of all closed loans, up 1 percent from the month prior according to the December Origination Insight Report from Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry. The percentage of FHA refinances increased to 25 percent of closed loans in the month, up 1 percentage point, and the percentage of conventional refinances increased to 47 percent of closed loans in December, up from 45 percent the month prior. In December, closing rates increased across the board with closing rates on all loans increasing from 70.9 percent to 71.2 percent, closing rates on refinances increasing from 65.1 percent to 65.6 percent and closing rates on purchases increasing from 75.5 percent to 76.1 percent. Closing rates also increased across FHA, conventional and VA loans for both purchases
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