Construction loan closing times drop after tech update: Ellie Mae

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After settling back around 46 days, the time to close a loan is starting to edge higher again, getting close to the yearly high, according to the latest origination insight report from Ellie Mae.

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Time to close a refinance was 33 days, down from 34 in March and 43 compared to 45 for purchase loans. "We are seeing closing times drop across the board as our lenders leverage technology for a.

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Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and.

Update to UCD Collection Solution for B2B Gateway scheduled for July 13th. UCD partners directly integrated with UCD B2B service will experience a change to single sign-on authentication on July 13th. Once implemented, if any issues occur in production, immediately contact Fannie Mae Support to address any concerns.

As a reminder, Ellie Mae has aligned our software updates with the appropriate tech nomenclature so we can be clear and consistent in our communication. The process in which you receive updates remains the same. To help you understand and prepare for releases and updates, please review the Encompass Product Release Naming Conventions page.

– Subscribe to Mortgage Rates Update.. "Significant" Reduction in Closing Times – Ellie Mae.. To calculate closing rates Ellie Mae samples loan applications initiated 90 days earlier, in.

High chances of getting a loan closed, the quick pace loans are closing at and today’s low mortgage rates all combine to make a buyer-friendly market. Click to see today’s mortgage rates. Highest Ever Recording Of Closed Applications. According to mortgage software company Ellie Mae, over 75% of purchase applications closed in a 90-day cycle.

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About Ellie Mae. Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. ellie mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency.