American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Technology News

Mortgage Applications Finding A Home On The Web

March 24, 2006

Applying for mortgages online is beginning to come into its own, according to a recent research study by SYNERGISTICS RESEARCH CORP. entitled, Innovations in Mortgage Lending.  The national online survey was conducted in October of 2005 with 1,000 consumers age 18 or older across all income groups.

Exh_1In the survey, homeowners who have a first mortgage were asked if they did any of a number of activities online the last time they applied for a mortgage.  Overall, seven in ten identify doing at least one of these online activities.  Indicated by about half are researching interest rates in general and using calculators and Web sites for determining monthly payments under various criteria (Exhibit 1).  Somewhat more than four in ten compared rates and terms among different institutions.  One-fourth read information at personal finance or general news Web sites about the process of applying for a mortgage.  One in seven indicate that they actually applied online.  As shown in Exhibit 2, the incidence of having applied online for a home mortgage increases to one-quarter of mortgage holders with home values of $500K or more.


William H. McCracken, CEO of SYNERGISTICS, stated, “Those mortgage lenders who do not handle mortgage applications online by this time may be finding themselves in a position of having to play ‘catch up’ from which it may be difficult to recover.  Online information gathering and research is all but a given among Internet-active households.  Applying online has already occurred to a significant extent and may well become more prevalent, appealing to certain segments who do not require face-to-face interaction for obtaining a mortgage.”

These are findings from SYNERGISTICS study featuring a national survey of 1,000 consumers age 18 or older.  This report evaluates consumer usage of mortgages and examines reaction to innovative products, the application process, and online shopping and applications.  Experience with home equity credit products and refinancing activity are also examined.


Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment