Real Estate Culture
  • Home
  • What is My Home Worth?
  • About
  • Contact

Real Estate is a LIFESTYLE

  Real Estate is indeed a lifestyle.  From contemporary layouts & interior design/decor, the rise and fall in economic markets, turn key and rehab properties - to know & understand the grit of real estate is to love what it represents.  Home.  Value.  Wealth.  Security blanket.  Personal accomplishment.  
Enjoy the information on this site, and refer your family and friends to indulge in Real Estate Culture!

Lenders Speed Up Loan Processing #realestate #mortgage #homeownership

5/3/2017

0 Comments

 
Picture
Source:  Mortgage News Daily

The share of purchase loans originated in March climbed to 63 percent of all originations from 57 percent in February.  Ellie Mae's Origination Insight Report for the month noted that this was the highest share for purchase mortgages since July 2016 when they made up 65 percent of the total.

The average time to close all loans decreased to 43 days in March, down from 46 days in February, the shortest time to close since February of 2015.  Similarly, the time to close a refinance dropped to 43 days from 47 days and the timeline for a purchase mortgage was 43 days, down from 45 days in February.  All types of loans had shorter timelines.

Closing or pull-through rates were lower for all loan types except FHA refinances.  The rate for all loans fell from 70.6 percent in February to 67.9 percent.  The pull-through rate for refinances was down 1 percent to 65.4 percent and the purchase rate was 74.8 percent compared to 75.9 percent the previous month.  Ellie Mae basis closing rates on a sampling of loan applications initiated 90 days earlier, in this case December 2016 applications.

0 Comments



Leave a Reply.

    Archives

    December 2018
    July 2018
    February 2018
    January 2018
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016

    Categories

    All

    RSS Feed

© COPYRIGHT 2015. ALL RIGHTS RESERVED.
  • Home
  • What is My Home Worth?
  • About
  • Contact