The proportion of mortgages made to borrowers purchasing property versus refinancing existing loans jumped 6% in May 2015, but still lagged compared to where it had been in May 2014, according to mortgage software firm Ellie Mae.

The company's Origination Insight Report for May 2015 revealed 58% of mortgages originated by lenders using its Encompass mortgage origination platform went to borrowers buying property, while 42% went to borrowers refinancing previously existing loans.

This compared favorably with April's percentage (52%) and the percentage from November 2014 (54%), but lagged compared to the percentage from May 2014 (66%).

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lending