Ellie Mae

Revisions to the TILA/RESPA integrated disclosure that go into effect this fall drove the changes Ellie Mae made in its latest update to the Encompass loan origination system.

An increase in millennials making home purchases is a call to the mortgage industry for a quicker, more efficient digital process.

Ellie Mae saw a 20% year-over-year increase in second-quarter revenue with more loans closed using Encompass, but net income fell nearly 50% on an accounting change and acquisition costs.

As purchase mortgages continue to dominate overall industry volume, lenders aren't letting the extra work required to close these loans affect their productivity.

The average millennial borrower credit score remained unchanged in May, but values by city painted very different pictures, according to Ellie Mae.

Access to mortgage credit inched up in June, as competition for jumbo loans resulted in looser underwriting, but government lending standards got more restrictive, the Mortgage Bankers Association said.

Higher interest rates on home mortgages drove the share of loans used to purchase houses rather than refinance to new heights in May.

Mortgage credit availability increased in May by 1.5% as more jumbo and high-balance conforming loan products came on the market, the Mortgage Bankers Association said.

A new integration between Blend and Ellie Mae seeks to improve the use and accessibility of electronic mortgage documents, the latest in an ongoing industry effort to create a more simplified and consistent borrower experience.

As mortgage rates continued rising, the percentage of closed home purchase loans grew to its highest level in about four years, according to Ellie Mae.