Mortgage

Can you buy mortgages on aisle four?

A recent article by Reuters noted that one in three consumers in the U.S. would consider a mortgage from Walmart and nearly half would consider one from online payment provider PayPal, according to a financial services study released this week.

Survey conductor Doug Hautop, lending practice lead at the Carlisle & Gallagher Consulting Group, said the study indicates that consumers will venture out to alternative lenders as borrowers emphasize price, customer service and trust in their provider when choosing a mortgage.

The article states, “Non-bank mortgage companies such as Quicken Loans and Nationstar Mortgage Holdings Inc. have been gaining market share as some large banks, such as Bank of America Corp., pull back in a business that burned them during the financial crisis.” 

To read Reuters’ entire coverage on the survey, click here.

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