Talk of the Town - Real Estate News from the Hamptons and North Fork

March 3, 2015

Online Mortgage Startups Spurred by Demand and Investors

From The New York Times: One-Stop Borrowing on the Web. Consumer demand for a streamlined mortgage process is driving investment in online lending startups trying to deliver loans more quickly, efficiently and reliably. The newest generation of home buyers, the so-called millennials born between the early 1980s and the late 1990s, wants “ease of use and transparency,” said Jason van den Brand, the chief executive of Lenda in San Francisco, which has automated the entire loan process. “They do not want to go through the same methods that their parents went through.” In the same way that buyers increasingly rely on the Internet for house hunting, so too are they looking to secure financing online. In a national survey released...

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