Billions of people tap into the power of the web as a means for communication, self- expression and entertainment. However, the tool is now becoming an increasingly important device within the mortgage industry as more consumers are relying on the technology in regards to loan origination. Every mortgage has to start somewhere and tech-savvy consumers know that websites that connect potential borrowers directly to lenders can systematize the loan process.

The Web is New Hot Spot for Mortgage Seekers

Generation X (people born in the mid sixties to early eighties) and Generation Y (loosely defined as individuals born in the late 70s and beyond) have been quick to adopt digital technology and many individuals are hard pressed to remember when the Internet was not an integral part of their lives. As more consumers from the aforementioned demographics are aging and finally getting involved in the American Dream of home ownership, online activity in regards to locating home loans is growing in market share.

New research has shown that 21 percent of mortgage seekers use the web in regards to home loan shopping (LendingTree.com). According to John Walsh (president of lender/broker Total Mortgage Services), this activity is a huge increase as a few years ago, the use of the technology in regards to mortgage origination was "negligible" (HousingWire.com). Walsh believes that the trend is only going to increase not only in regards to mortgage origination, but also for all stages of the game from the initial research to the final closing.

Benefits of Mortgage Shopping Online

Previous generations of homeowners wasted hours of valuable time in regards to the mortgage seeking process as the task could only be handled with phone-calls, snail mail and face-to-face visits. While those transactions may still be part of online loan activity, the Internet has become a valuable device for streamlining the entire process as a whole. Some benefits of shopping for a mortgage online include:

• Comparison Shopping: The simple act of shopping around for low mortgage rates has long been promoted as a way to get the best mortgage rates and the task is even easier online. Mortgage rate origination tool Mortgage Marvel will present mortgage seekers with a side-by-side rate comparison table showing all the nuances of different mortgages. The presentation allows consumers to get a complete overview of loan options, including term length, mortgage rates and points.
• Eliminate the Middleman: Past generations relied on mortgage brokers to do the home loan research, however that scenario opens up individuals to the risk of hidden agendas. Now consumers can go directly to the source and minimize that risk factor.
• Support the Underdog: There are hundreds of competitors in the primary mortgage market and for those who do not want to work with the big lenders accused of robo-signing, mortgage rate origination tools can introduce them to the smaller firms accross the nation.
• Privacy: Identity theft is a growing crime in the nation and the more personal information a person gives out, the chances of becoming a victim increase. Mortgage Marvel will provide accurate mortgage rates without requiring any private info.
• Convenience: In the past, mortgage seekers needed to schedule meetings and dedicate hours of time in order to find great mortgage rates. The Internet dismisses that process and provides mortgage rate access 24/7, no appointment required.
• Instant Gratification: As lenders have tightened their guidelines for mortgage approval, the waiting game can prove to be agonizing for those in need. Mortgage Marvel will provide accurate mortgage information from the first search, allow consumers to complete an application online and will immediately notify them of approval status.

Why Choose Mortgage Marvel

As more consumers are relying on technological advancement to assist in their mortgage search, online mortgage rate origination tools are cluttering the virtual landscape. Mortgage Marvel is the industry's leading mortgage rate origination tool that over 900 lenders rely on to deliver the up-to-date rate information needed to do their business. Mortgage Marvel is a direct-to-consumer service powered by Inc 500 company MortgageBot LLC. Our technology has existed for over 10 years, and is now readily available to assist borrowers in need.