Construction loan closing times drop after tech update: Ellie Mae

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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.

Ellie Mae economists are calling the drop "significant." For just purchase loans, the time to close dropped from 47 days to 45 days last month, according to the report. The drop in average closing times is mostly due to a decrease in the overall refinancing market. "With interest rates on the rise, we’re seeing the purchase market begin.

One-Time Close USDA Construction Loan 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.

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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By Jann Swanson Posted To: MND NewsWire After it jumped up by three full days in November the average time to close a first mortgage loan stabilized in December at 49 days. The November increase had been attributed to unfamiliarity with the new Truth in Lending Disclosure Rule (TRID) which went into effect for loans.

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