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Lending / The Ticker

HomeDirect Mortgage jumps into the online mortgage market

BOK Financial expands mortgage operations with new online channel

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BOK Financial (BOKF) just launched its HomeDirect Mortgage channel online as part of an initiative to reach homeowner's at home via their computer screens.

HomeDirect Mortgage is an online consumer direct mortgage company designed to reach outside of the lender’s footprint in all 50 states, Todd Geiman, senior vice president of HomeDirect Mortgage, explained.

He added, "70% of people reach out online to get a mortgage, yet less than 10% close a mortgage that originates online. We think that market is growing daily, as people are getting more comfortable with that platform."

Currently, the online platform has nine loan officers but is projected to grow to 40 to 50 officers by the end of 2015.

"With this launch, we can now cost-effectively take our reputation for superior customer service, competitive pricing and timely origination to a nationwide audience while building additional mortgage volume and gaining economies of scale from our mortgage origination and servicing platform," Geiman said. 

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