Oobabond Stats - January 2019

Oobabond Stats - January 2019

Category Newsletter: HeadOffice

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 January 2019 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. Total bond approval rate across all banks:

With one of the highest approval rates in the market, ooba continues to secure approval for almost than eight 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.

2. Successful bond approval rate by one bank:

The most favourable approval rate was 74.7% and the least favourable was 59.6%. Approval rates are currently trending higher year-on-year as a result of banks competing for business. However, homebuyers continue to face affordability constraints in the current economic environment, compounded by inflationary pressures. Applications with deposits continue to have a higher rate of approval than 100% bond applications, which banks continue to be cautious on.

3. 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.

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

5. Average Weighted Rate Concession:

6. Average Rate Concession in the Top 10th Percentile:

7. Average Deposit:

Author: Ooba