Online Mortgages on the Rise
Research firm TowerGroup predicted Monday that mortgages originating in the United States via the Internet will account for more than 12 percent of all mortgages in 2005, compared with an anticipated 3 percent share this year.TowerGroup also forecast that online mortgages will amount to $180 billion in 2005, up from $45 billion this year.
The Mortgage Bankers Association of America predicts that total mortgage lending this year will reach $1.538 trillion.
