Posted To: Pipeline Press
Lenders everywhere are looking forward to a great March given their swollen locked pipelines . As thousands of operations folks descend on Ellie's conference in Las Vegas, regulation will be the focus, and its impact on lenders and consumers. Is the cure worse than the disease? We'll see where TRID takes things. According to the December Origination Insight Report from Ellie Mae, the average time to close a loan in 2015 took 49 days . The average time to close a refinance dropped to 47 days, while the average time to close a purchase transaction increased to 50 days. Closing rates for all loans was 67 percent, while the closing rates for refinances reached the highest level of the year at 63 percent and closing rates for purchases declined slightly to 71 percent. In spite of only 10-20% of...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1QGDCmh
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