CORRECTING and REPLACING GRAPHIC Ellie Mae Releases December 2012 Origination Insight Report and Year-End 2012 Averages

  CORRECTING and REPLACINGGRAPHICEllie Mae Releases December 2012
  Origination Insight Report and Year-End 2012 Averages

Report Shows Strong Finish in 2012 with an Increase in Closing Rates and Days
                                   to Close Ellie Mae, Inc.

Business Wire

PLEASANTON, Calif. -- January 16, 2013

In the infographic, under “Purpose”, the average Refinance percentage for 2012
should be 62% (sted 69%) and the average Purchase percentage for 2012 should
be 38% (sted 31%).

The release reads:


Report Shows Strong Finish in 2012 with an Increase in Closing Rates and Days
                                   to Close

Ellie Mae^® (NYSE: ELLI), a leading provider of enterprise-level, on-demand
automated solutions for the residential mortgage industry, today released its
Origination Insight Report for December 2012, as well as averages of key
statistics for 2012. The report draws its data and insights from a robust
sampling of the significant volume of loan applications—more than 20% of all
originations in the United States—that flow through Ellie Mae’s Encompass360^®
mortgage management software and Ellie Mae Network™.


                                                         3 Months         6
                           December       November       Ago              Months
                   2012*       2012*       (September    Ago
                                                         2012)*           (June
Closed Loans
Refinance           69%         68%         65%           54%
Purchase            31%         32%         35%           46%
FHA                 19%         19%         19%           23%
Conventional        73%         73%         72%           67%
Days to Close
All                 55          50          50            47
Refinance           57          51          53            47
Purchase            51          48          47            46
ARMs vs. Fixed, Length, Rate
ARM %               2.1%        2.0%        2.6%          3.3%
15 Year %           15.9%       16.7%       17.3%         15.8%
30 Year –           3.609       3.600       3.773         3.992
Note Rate

*All references to months should be read as month ended.


                       Closed First-Lien Loans    Denied Loans
                           (All Types)                   (All Types)
FICO Score (FICO)       748                        709
Loan-to-Value (LTV)     79                         85
Debt-to-Income (DTI)    23/34                      27/44

More information and analysis of closed and denied loans by loan purpose and
investor are available in the full report at

To get a meaningful view of lender “pull-through,” Ellie Mae reviewed a
sampling of loan applications initiated 90 days prior (i.e., the September
2012 applications) to calculate an overall closing rate of 54.7% in December
2012, up slightly from 52.3% in November 2012 (see full report).

“Closed conventional refinances with LTVs of 95%-plus, a strong indicator of
HARP 2.0 activity, jumped up from 9.62% in November 2012 to 11.40% in December
2012, the highest it has been since we began tracking this data in October
2011,” said Jonathan Corr, chief operating officer of Ellie Mae.

“The rise in closing rates seems to have impacted the time to close: The
average refinance took 57 days to close in December 2012, nearly a week longer
than it did in November 2012,” Corr continued. “Similarly, purchases stretched
to 51 days to close in December 2012, up from 48 days in November 2012.”

Corr added, “To take advantage of the historic low interest rates last year,
borrowers needed pristine credit and low debt ratios.In 2012,closed loans
had anaverage FICO scoreof748, an average DTI of 23/34and an average
interest rate of 3.908% (see infographic).”

About Ellie Mae Origination Insight Report

In 2012, the total volume of mortgages that ran through Ellie Mae’s
Encompass360 mortgage management software was approximately three million loan
applications, or 20% of all U.S. mortgage originations. The Origination
Insight Report mines its application data from a robust sampling of
approximately 33% of all mortgage applications that were initiated on the
Encompass origination platform. Given the size of this sample and Ellie Mae’s
market share, the Company believes the Origination Insight Report is a strong
proxy of the underwriting standards that are being employed by lenders across
the country.

The Origination Insight Report focuses on loans that closed or were denied in
a specific month and compares their characteristics to similar loans that
closed or were denied three and six months earlier. The closing rate is
calculated on a 90-day cycle rather than on a monthly basis because most loan
applications typically take one and a half to two months from application to
closing. Loans that do not close could still be active applications, or
applications withdrawn by consumers or denied for incompleteness or

The Origination Insight Report details aggregated, anonymized data and does
not disclose client-specific or proprietary information.

News organizations have the right to reuse this data, provided that Ellie Mae,
Inc., is credited as the source.

About Ellie Mae

Ellie Mae, Inc. (NYSE: ELLI) is a leading provider of on-demand automation
solutions for the mortgage industry.The Company offers an end-to-end
solution, deliveredusing a Software-as-a-Service model that serves as the
core operating system for mortgage originators and spans customer relationship
management, loan origination and business management.The Company also hosts
the Ellie Mae Network™ that allows Encompass^® users to electronically conduct
business transactions with the lenders and settlement service providers they
work with to process and fund loans.The Company’s offerings include the
Encompass, Encompass360^® and DataTrac^® mortgage management software systems.

Ellie Mae was founded in 1997 and is based in Pleasanton, California.To learn
more about Ellie Mae, visit or call 877.355.4362.

© 2013 Ellie Mae, Inc. Ellie Mae^®, Encompass^®, Encompass360^®, DataTrac^®,
Ellie Mae Network™ and the Ellie Mae logoare registered trademarks or
trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other
company and product names may be trademarks or copyrights of theirrespective

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