Ellie Mae has made its suite of tools that offers peer benchmarking comparison analysis available to the general public.
The newly released Ellie Mae Insights analyzes metrics such as efficiency levels, operational costs, market penetration, demographic data, and pull-through rates to help lenders compare their performance to other industry players.
With Ellie Mae's industry analytics tool, lenders can also view mortgage-industry trends. The tool provides critical data such as average time to close, changes in interest rates, borrower demographics, credit scores, and more.
"With Ellie Mae Insights, our lenders can now instantly see both industry and anonymized peer comparisons that deliver unique data across a number of meaningful key metrics," said Ellie Mae Chief Operating Officer Joe Tyrrell. "And especially now, in these unprecedented times, lenders can now make real-time, data-driven decisions that can positively impact their business and help them gain an advantage in an incredibly competitive market."
"We use Ellie Mae Insights to more thoroughly understand our position in the marketplace and drive tactical changes to our business model to better align with upcoming industry trends," said Andria Lightfoot, senior vice president of information systems at George Mason Mortgage.