Without a doubt Amtrust Bank (formerly Ohio Savings Bank) has been the "dark horse" in the eMortgage race. Offering their eSign product to brokers was a major event in the development of the Paperless Mortgage (eMortgage: See my definition on wiki.)
The other "Big Boys" of the wholesale lending universe have been watching, plotting their marketing strategies, investing tens of millions of dollars behind the scenes to be the undisputed winner of this race.
It seems the finish line is drawing near. We've got Amtrust leading the race, Citi, Flagstar and Wells Fargo are looking strong (Still have no confirmed reports that BofA is even in the race.) By all accounts and from my discussions with the industry players expect a winner to be declared in the 1st Quarter of 2008.
Amercian Home Mortgage (ABC to you wholesale folks) is defiantly out of the race. But, someone may step in to pick up the pieces. I'm told they were working quite diligently on an eMortgage solution and depending on what they put together that could be a very attractive asset. From what I understand the technology solutions that InterFirst put together was one of the primary motivating factors behind Citi Banks acquisition of them.
To summarize. We've got Amtrust leading the race, AHM is out and we've got Citi, Flagstar and Wells Fargo pacing Amtrust, all looking to take the lead in this home stretch.
It is my hope that when I attend the MISMO conference in Houston next month I will have a chance to talk with all the participants (on the record) and update the leader board for all you folks interested in this Great American eMortgage Race.
If you have not done so already...place your bets now.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment