Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Ellie Mae reports record 1Q revenue

Beats revenue and EPS expectations

Ellie Mae witnessed a strong first-quarter, posting record revenue of $73.6 million, up 36% from $54.2 million in first quarter 2015.

Net income for the first quarter of 2016 dropped to $2.5 million, or $0.08 per diluted share, down from net income of $3.6 million, or $0.12 per diluted share, for the first quarter of 2015.

Despite the drop in EPS, Ellie Mae still beat expectations by $0.03. The company also beat revenue expectations by $4.86 million.

In its last earnings round, Ellie Mae also beat revenue and EPS expectations.

“We had a great start to the year with continued momentum across our business,” said Jonathan Corr, president and CEO of Ellie Mae. “In addition to growing revenue by 36% in the face of a 10% decline in origination volume, we continued to see robust adoption throughout the lender community.”

The total number of active Encompass users increased 22% year-over-year to 144,533. Revenue per average active Encompass user increased to $522, up 10% from $474 in first quarter 2015.

Looking ahead, Ellie Mae expects second quarter 2016 revenue to be in the range of $84.0 million to $86.0 million and full year 2016 revenue to be in the range of $325.0 million to $329.0 million.

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3d rendering of a row of luxury townhouses along a street

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