MEQUON, Wis. – Mortgagebot reported that even with Hurricane Sandy affecting business in November, it still is projecting that more than 1 million mortgage loan applications will be submitted through its Enterprise end-to-end lending platform by yearend.
Through October, the company had already surpassed its previous record of 725,000 applications submitted during 2010. In 2011, approximately 600,000 applications came through the system, the company reported. Mortgagebot said more than 40% of its clients take more than one-quarter of their applications online.
The company also noted that rate searches from mobile devices have grown to 623,410 performed through October, up from just 83,821 for all of 2010.