Magazine article Mortgage Banking

The Perfect Model

Magazine article Mortgage Banking

The Perfect Model

Article excerpt

LEONARDO DA VINCI HAD THE PERFECT MODEL. THE MONA LISA IS THE MOST famous artwork on the planet because of that woman's mysterious smile. The mortgage business should be so lucky.

Many lenders today are searching for the perfect model of a business that integrates the speed and access of the Internet. No one knows, yet, what that perfect model will look like. Today people are experimenting all over the place with different business models for mortgage lending. No one has hit on the winning formula just yet. But we are hearing a lot of talk about business models as the technologists, strategists and venture capitalists find each other and launch the latest twist.

Some in the industry are working in some very promising areas and are having success. Our cover article, "Power to the People," by Robert Stowe England, examines five companies with different e-lending business models. The article notes that early guesses of online origination volume were way off, but the market for e-mortgage business is still big enough to attract many entrepreneurs jostling each other to capture it. The five companies making a mark in different areas of the business are: IndyMac Bancorp, Inc.; E-LOAN; Countrywide Home Loans; LendingTree and MortgageSelect. …

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