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Mortgage software firm Ellie Mae reported Wednesday that 61% of mortgage loans originated through its lending platform in June went to purchase money loans, and in addition, lenders' closing rates on all purchase loans had reached 69%.
To get a meaningful view of lender pull-through, Ellie Mae reviewed a sampling of loan applications initiated 90 days prior to calculate an overall closing rate of 58.
The banker pointed out that many exporters have based on the exchange rates in midsession for their operation, as the closing rate cannot faithfully reflect the real situation, due to its wide difference with midsession rates.
Keith Hall, LendingTree's senior vice president and chief financial officer, stated, "As a result of the continued improvement in transmit and closing rates, our average revenue per transmitted loan request grew to a record $55.
s gross profit on retail sales for the first five months of the year was up by 5 percent and his closing rate increased 5 percent.
EGP is significant with the expected sign, implying that states with a larger proportion of their state product deriving from oil and natural gas extraction had a higher bank closing rate.
The closing rate for purchase loans increased for the fourth month in a row, from 58.
About 4,000 of those calls resulted in sales for a closing rate of 6.
We've achieved a closing rate of more than 30 percent a month since our inception, making us a lending leader in the 14 states we are licensed to transact wholesale mortgage business," says Landau.
NOTE: Third quarter results translated for convenience at the closing rate on Dec.
Despite total revenue growing year-over-year, our license revenue was below expectations, due in part to a lower closing rate on large transactions.
Quality Initiatives: As part of its ongoing upgrades to QVS (Quality Verification System(SM)), Autobytel intensified its affiliate monitoring process, implementing new methods and standards for measuring affiliate performance contributing to a sustained high dealer closing rate of over 18% during the third quarter of 2004.