Get Mortgage Online? Many Homebuyers Are Sold

Buying a home is the biggest transaction in most consumers' lives. So why are an increasing number of homebuyers trusting their life savings to online mortgage processing sites? A recent survey by LendingTree.com shows that 21 percent of potential homebuyers use the internet to shop for their mortgage online. Could online mortgage processing replace face-to-face home loan servicing altogether? Christine Ricciardi at HousingWire explores this growing trend to show how web savvy consumers are shaping the next generation of mortgage processing.

After Brandon and Rebecca Chustz had their first baby in October, the couple decided it was time to buy their first house. The Dallas residents searched online at sites such as Trulia and Zillow to get an idea of which part of town they wanted to live in, then narrowed down their search by size and, more importantly, price.