Origination Technology

Technology

Keep An Eye On Online Lending

By Anthony Garritano

NEW YORK - By the numbers, online originations increased by 13% in the first quarter of 2009 as compared to one year prior. And six of the top 10 segment participants saw their online originations increase by double digits, and not just modestly. Take notice mortgage brokers.

Further, according to Benchmarks 2009, a study conducted by point-of-sale vendor Mortgagebot, the online channel continues to generate more vs. the traditional method. Approximately 40% of originators take more than 25% of their applications via the online channel - up from only 1% at the start of the decade, the report said.