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Ellie Mae Reports Few Changes in Loan Characteristics

Posted To: MND NewsWire

Refinancing held its ground in June, with that share of the mortgage market remaining at 32 percent. While that is a significant decline from the 47 percent share the first month of the year, it is little changed from the June 2016 share of 34 percent. Logically, purchase loans remained at prior levels as well, a 68 percent share. The June Origination Insight Report from Ellie Mae notes a shift between refinance and purchase shares within loan types. the percentage of both VA and Conventional purchase loans increased 2 percentage points from the previous month, to 75 percent and 63 percent respectively. FHA purchase loans decreased slightly to 81 percent. The distribution of all loans across lenders was largely unchanged as well. Ten percent of originations were VA loans , the same percentage…(read more)

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Source: Mortgagenewsdaily

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