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Items Tagged with 'Ellie Mae'

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Ellie Mae’s July origination report shows share of purchase loans up

Even better, time to close falls to its lowest
Trey Garrison
Ellie Mae’s Origination Insight report shows that for July, the share of purchase loans rose to its highest level in the series, while time to close fell to its lowest.
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Closing rate for mortgage originations drops in July

Closure for 90-day applications falls below 60%
Trey Garrison
Mortgage originations showed an overall closing rate of 57.7% in July 2014, down from 60.7% in June 2014, according to a sample of 90-day loan applications conducted by Ellie Mae.
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Ellie Mae to acquire AllRegs for $30 million

All-cash deal expected to close within 90 days
Ben Lane
“With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings,” Ellie Mae CEO Sig Anderman said. “This strategic acquisition enhances Ellie Mae’s compliance leadership and furthers our goal to be the company that powers the entire mortgage industry.”
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Ellie Mae 2Q14 earnings overcome outages

Encompass users increase 12% y/y
Brena Swanson
Ellie Mae recorded an increase in its second-quarter earnings despite additional operating expenses from its outages experienced at the end of March.
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Where is Ellie Mae moving?

Second-quarter earnings coming soon
Brena Swanson
After experiencing a temporary service outage of its origination system back in March, Ellie Mae is posting strong improvements and actually moving into a new headquarters to accommodate its growing workforce.
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Despite mortgage reductions, Huntington earnings rise

Mortgage-banking income fell $11 million
Brena Swanson
Huntington Bancshares posted a second-quarter net income of $165 million, up $14 million, or 9%, from last year. However, mortgage-banking income fell $11 million, or 33%, reflecting a 49% reduction in originations and secondary marketing revenue.
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GIF: 4 charts, 1 changed housing market

Purchase vs. refinance
Brena Swanson
Although rates have managed to stay surprisingly low, this is the first time since 2000 that the purchase market is dominating the mortgage market.
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Ellie Mae origination report shows uptick in closure rate

New report now includes VA loans
Trey Garrison
Ellie Mae’s Origination Insight Report for May 2014 has been revised to include analysis of VA loans, mortgages made by private lenders, which are backed by the Department of Veterans Affairs, and expanded Federal Housing Administration and conventional loan data.
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Ellie Mae announces $75 million stock buyback program

Company currently has over 28 million diluted shares outstanding
Ben Lane
Under the program, purchases may be made from “time to time” on the open market over the next 36 months, and will be funded from the company’s available working capital.
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Ellie Mae revises operating expenses due to outage

Expenses range from $3 million to $4 million
Brena Swanson
After Ellie Mae’s loan origination system shut down for users at the end of March, the company had to revise its operating expenses to handle the added bump in capital spending.
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