Best Big Mortgage Web Sites

Keynote Systems recently released its biannual study, WebExcellence Scorecard for Mortgage. The report competitively ranked mortgage Web sites using a framework of more than 200 criteria and analyzing in three ‘critical success’ areas of best practices, customer experience and service levels.

Mortgage Scorecard’s lead researcher Chris Musto told MortgageDaily.com that Keynote looked at the largest mortgage originators online that target prime mortgagors (although they might offer subprime loans), offer a pre-qualification online without talking to an originator and have a site that is designed to peak the applicant’s interest.

There were 13 in all that qualified for the study’s evaluation.

“We looked at lenders that close their own loans, the largest actual underwriters,” Musto said. “We were trying to evaluate comparable Web sites and experiences.”

National City Mortgage filled the last position on the Scorecard’s list, while GMAC Residential Holdings ranked in the 12th spot.

Chase Home Finance, Washington Mutual and Countrywide Financial Corp. listed in the ninth, 10th and 11th spots respectively.

Bank of America was listed in the eighth spot and placed third for “Privacy and Security.”

Fifth place was a three-way tie for Charter One Mortgage, CitiMortgage and E*Trade Mortgage.

ABN AMRO Mortgage ranked third overall and IndyMac took fourth place but listed first in the subcategory of “Quality and Availability.”

Wells Fargo, placed second overall, ranked first in “Ease of Use” and “Privacy & Security.”

Mortgage broker and lender E-LOAN took the top spot in Keynote’s study.

“E-LOAN topped the Scorecard in large part because of its first place ranking in the ‘Functionality’ category, as well as its top placement tasks such as ‘Get Rate and Select Security’ categories,” the company said.

A recent report published by Change Sciences Group ranked Wells Fargo, E-LOAN and GMAC the top three mortgage sites.