Averages in 2014: LTV, FICO, Loan Types, and More

Fifty-six percent of loans closed in
December were for home purchase, somewhat lower than the average for 2014 as a whole
according to the Origination Insights
from Ellie Mae.  Lower
interest rates pushed refinancing numbers higher toward the end of the year,
increasing originations for that purpose from the years low of 32 percent in
July to 45 percent in November but the refinancing shared dipped to 43 percent
in December, allowing the reciprocal share of purchase mortgages to increase
for the first time in four months.

For the entire year purchase loans had
a 61 percent
share of all originations and refinance loans were 38 percent of
the total.  In 2013 refinancing
constituted 53 percent of all loans and purchases 47 percent.  There was a big difference, however, in the
statistics for FHA loans and conventional loans.  Conventional loans were fairly evenly split
as to purpose; 47 percent for refinancing, 52 percent for purchase.  Eighty one percent of FHA backed originations
in 2014 were purchase loans.


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