Lenders Sped up Refi Processing in November

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Posted To: MND NewsWire

Metrics of loans originated through Ellie Mae's mortgage management software and network were largely unchanged from earlier months according to its Origination Insight Report for November 2012 released today. The report covers over 20% of all originations in the United States. Loans originated for the purpose of refinancing declined from 69 percent of the total loans originated to 68 percent and the FHA share of originations remained at 19 percent. This is, however down from an FHA share of 25 percent in November 2011. Jonathan Corr, chief operating officer of Ellie Mae said "There were also signs that HARP may still have some legs : Conventional refinances at 95%-plus LTV rose for the third month in a row, hitting 9.62% in November 2012." To determine a pull-through rate Ellie Mae reviewed...(read more)

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Source: www.mortgagenewsdaily.com

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