For Financial Services Professionals

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	June 7, 2006 Online Mortgage Shoppers' Paths To Purchase Navigational And Survey Data Uncovers How Prospects Use Web Sites by Brad Strothkamp with Bruce D. Temkin, Peter Hult	Average: 8  (2 ratings)

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Executive Summary

Forrester examined how consumers use top mortgage Web sites and search engines in their search for a mortgage, analyzing the content, tools, and sales channels that lead to the highest conversion rates. What did we find? Traditional lenders like Citi and Washington Mutual have a lot to learn from their online peers when it comes to selling mortgages online. Loan aggregator sites like LendingTree and LowerMyBills.com attract hundreds of thousands of mortgage prospects per month, and direct lenders like Quicken Loans are tops at converting prospects into applicants. Lenders looking to attract and convert more lending prospects should evaluate their use of search engines, offer easy access to rates and fees, and provide selection tools for choosing the right mortgage.

TABLE OF CONTENTS

• Understanding How Online Consumers Select Mortgages
• Aggregators Attract Consumers, Conversion Remains Low
• Mortgage Path To Purchase: How Prospects Become Applicants

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This is an excerpt