| By Jim Bruene on June 1, 2001 4:12 PM | Comments (0) |
Originally, we had planned to conclude our look at online lending last month
with the second installment. However, we found so many new innovative features
at the top online mortgage lenders, we extended the report for one more month to
bring you full coverage of E*Trade Mortgage (formerly LoansDirect,
MortgageBot, E-Loan, and IndyMac. Previously, we
covered the other top-5 lender, LendingTree .
E*Trade knows how to sell complex consumer products without the bricks and mortar. Here they put a face on the mortgage process, literally, with pictures, phone numbers, email addresses, and real-time availability of each person handling the loan.
As good as these sites are, we are just beginning to see the real power of the Internet for online lending. Compared to traditional methods, the Internet provides a better loan shopping and purchasing environment for the majority of borrowers; they just don’t know it yet. It’s up to you to show them the light.
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