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Report: Consumers Don't Know About Online Payment Options.(Brief Article)(Statistical Data Included)

Mortgage Servicing News

| September 01, 2002 | COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Nearly 60% of consumers who hold a mortgage but don't currently utilize electronic servicing opportunities do not even know if their lender offers e-servicing features, according to a report from Gomez Inc.

However, Gomez's consumer research suggests that online customer service is starting to take off in the mortgage industry.

Currently, only 18% of consumers that hold a mortgage utilize online servicing features, according to Gomez's report, "Mortgage E-Servicing."

But the report said that 28% of "online consumers" that hold a mortgage, accounting for 13 million borrowers, are poised to become involved in mortgage e-servicing.

That should deliver enormous cost reduction and revenue creation opportunities for mortgage providers, the research company said.

But lenders face two challenges in achieving this aim: making customers aware of the existence of e-servicing ...

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Source: HighBeam Research, Report: Consumers Don't Know About Online Payment Options.(Brief...

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