Tag Archives: Origination Insights

Calculating from a sampling of mortgage applications initiated on its Encompass platform, technology provider Ellie Mae estimated this week that home purchase mortgages accounted for 56 percent of lending activity last month, up from 54 percent in November.

While the time it took to close a loan in June increased just slightly from the previous month, the closing rate reached a record high of 61 percent, according to Ellie Mae's Origination Insight Report. Among loans originated 90 days before the report, 60.7 percent closed in June, the report states. This is up from 57.8 percent in May. "Clearly, lenders are working harder than ever to convert and close loans," said Jonathan Corr, president and COO of Ellie Mae.