It was always going to be a love-hate relationship. Love, because banks gained instant access to loan-hungry consumers, and hate, because their competitors did too. Either way, Bond Originators have grown in importance and now account for half of all new home loan applications in the market. CLICK above LINK for Info.
Formed in 1999 and one of the country’s oldest bond originators, OOBA is responsible for 20% of all new home loan applications in the market. More than 70% of the applications it processes are approved.
“Customers who apply for a bond through an originator have a much higher conversion rate than those who go directly through banks,” comments Shaun Rademeyer CEO of OOBA rival, BetterLife.
BetterLife accounts for 25% of all new home loan applications in the market. According to Rademeyer, the multiple-quote model enables originators to drive down interest rates paid by customers. See above Article for Full Details.