Oobabond Statistics 2016

ooba maintains the best quality applications in the industry, along with the best processing systems and methodologies, ensuring that ooba delivers the highest quality approval rate with the least delays.

For access to multiple lenders and experts who know how to position the bond for optimal success, partner with ooba.   ooba understands how important the deal is to you, and we have the capability to motivate and escalate your deals with our banking partners, ensuring that the bond has the highest probability of being granted.

Some relevant statistics for the month of October 16 follows. These statistics are being shared with you, our business partners, to give you insight into the current lending environment so your buyers’ expectations can be effectively managed and you can feel confident of results.

1.    Successful bond approval rate by one bank:

The most favourable approval rate was 60.6% and the least favourable was 48.1%.  Approval rates are trending lower year-on-year primarily due to homebuyers facing affordability constraints in a rising interest rate environment, compounded by inflationary pressures. Applications with deposits continue to have a higher rate of approval than 100% bond applications, which banks are currently extremely cautious on.

2.    Additional successful bond approval rate by multiple banks:

This  signifies  the  opportunity  to  secure  an  approval  from  another  bank  on  applications  initially declined by one bank.   These statistics illustrate the benefit of ooba’s value proposition to real estate by having access to 9 banks to acquire an approval.

3.    Total bond approval rate across all banks:

With one of the highest approval rates in the market, ooba continues to secure approval for more than seven out of ten applications that we process, which is a compelling reason for real estate to use ooba’s origination services, particularly under the current tougher economic conditions.

4.   Bank Turn-Around Times: (Percentage of Loans Granted with 5 Days)

The fastest service delivery by an individual bank was a 5 day grant ratio of 94.3%. The slowest service delivery by a bank was a 5 day grant ratio of 64.6%