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More Than 20,000 Have Registered for MortgageDaily.com News

61% of users are originators

November 5, 2003

By COCO SALAZAR


MortgageDaily.com's audience has grown 30% since May, as registered users now surpass the 20,000 mark.

Since 1999, the online publication has provided readers with the latest mortgage industry news covering mortgage fraud, actions of industry giants and other subjects of interest as noted in e-mailed statements from MortgageDaily.com readers.

"MortgageDaily.com is one of my first stops for news every morning and afternoon -- from the reports on Freddie and where rates may go to the coverage of the subprime sector -- the coverage is great," said public relations specialist Jason Jepson, who works for an Irvine, Calif.-based loan center.

Loan officer Mike Jacobson of Wisconsin said he finds predatory lending and fraud articles "particularly interesting." He added he found the Market Snapshot "useful when discussing ARM products with prospective clients."

Jacobson's occupation is apparently one that most MortgageDaily.com readers work in. According to the publication's registration user database, 61% of readers indicated they work in "Loan Origination." Down slightly from 62% in May, the category includes loan officers, loan originators, loan reps, loan sales, mortgage brokers and anyone else that earns commissions for originating and closing mortgage loans.

More than 6% of readers registered under "Loan production," which includes occupations such as loan processors, sales managers, underwriters and closers. Nearly 6% said they worked in "Wholesale Lending," made up of account executives, their sales managers and quality control personnel.

Of the categories that each drew nearly or more than 3% of total users, "Mortgage Executive" led the pack with 628 registrants. The category describes people in vice president positions or higher positions at a 100+ employee lender. Users who categorized themselves in "Secondary Marketing," or positions dealing with buying or selling closed loans and warehouse lending, totaled 513, while 509 registered as "Consumers."

The following table demonstrates the amount of readers who registered under other categories of the registration process.

Real Estate Agents/Brokers 417 Media 147
Mortgage Technology 360 Analyst 128
Mortgage Loan Servicing 314 Education 123
Mortgage Fraud 295 Title Insurance 98
Legal 213 Government & Regulators 84
Appraiser 201 Mortgage Insurance 48

The database also showed that 85% of readers said they handle residential loans, an 11% marked subprime and 4% indicated handling commercial loans.

Furthermore, the zip codes entered by registrants indicated that 35% of MortgageDaily.com readers are located in the South region of the country, followed by 30% in the West. Approximately 20% are situated in the Midwest and 14% in the Northeast.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

email: s3celeste@aol.com


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