A refinancing boom in 2012 pushed the number of online mortgage applications submitted through the Mortgagebot platform close to a million — a landmark number that could easily be reached by year's end, said Matt Cotter, senior vice president of sales and marketing with the firm.
So far this year, loan applications looking to refinance their mortgages or file home purchase requests have submitted 800,000 loan applications through Mortgagebot.
Comparatively, mortgage seekers set a record pace by filing 725,000 applications through the same platform last year. This suggests 2012 filing levels are already well above 2011.
Traffic at the websites of Mortgagebot clients who use the platform to accept online applications noted a 6 million increase in visitors from last year with the total visits year-to-date reaching 42 million.
About 40% of Mortgagebots clients in the financial services industry accept a quarter of their mortgage applications online.