Detail on Single-Lender Mortgage Web Sites
Detail on Single-Lender Mortgage Web Sites
Summary
Rankings of Web Sites ,
January 12, 2005
Rank
URL
Score
Rank
URL
Score
1
Amerisave.com
47
2
Eloan.com
46
11
Countrywide.com
25
3
Mortgage.com (ABN AMRO)
42
12
Citimortgage.com
24
4
Indymac.com
37
13
Ditech.com
20
5
Greenpointmortgage.com
32
14
Wells Fargo.com\mortgage
20
6
Chasehomefinance,com
30
15
Wachovia.com
19
7
Mortgage.etrade.com
29
16
Gmacmortgage.com
15
8
Charteronedirect.com
29
17
Homeloancenter.com
14
9
Wamuhomeloans.com
26
18
Infoloan.com
12
10
Bankofamerica.com
25
19
Home.ingdirect.com/open/open.html
12
COMPONENTS OF SCORE
LENDER
2
3
4
5
6
7
8
9
10
Purpose/Occupancy
Cash-out Refi (1)
X
X
X
X
X
X
X
.
X
Second Home (1)
X
X
X
X
X
X
X
X
X
Investment (1)
X
X
X
X
X
X
X
X
X
Property
2-Unit (1)
X
X
X
X
X
X
X
X
X
3-Unit (1)
X
X
X
X
X
X
X
X
X
4-Unit (1)
X
X
X
X
X
X
X
X
X
Condo (1)
X
X
X
X
X
X
X
X
X
PUD (1)
.
X
.
X
X
.
.
X
.
Co-op (1)
.
o .
X
X
.
X
.
X
Townhouse (1)
.
X
.
.
X
.
.
.
X
Units under construction (1)
.
o .
.
.
.
.
.
.
Manufactured (1)
.
X
.
X
.
.
X
.
.
Type of Mortgage
10-year FRM (1)
.
X
X
. .
.
X
.
X
20-year FRM (1)
.
X
.
X
X
X
X
.
X
1-month ARM (1)
.
.
.
.
.
.
.
.
.
3-month ARM (1)
.
.
.
.
.
.
.
X
.
6-month ARM (1)
.
X
X
.
X
.
X
.
X
1-year ARM (1)
X
X
.
X
X
.
.
X
X
3-year ARM (1)
X
X
X
X
X
X
X
X
X
5-year ARM (1)
X
X
X
X
X
X
X
X
X
7-year ARM (1)
X
X
X
X
X
X
X
.
X
10-year ARM (1)
X
X
X
.
X
X
X
.
.
Flex payment (option) ARMs (1)
X
.
X
.
.
.
X
X
.
5-year balloon (1)
.
X
.
.
.
.
.
.
.
7-year balloon (1)
.
X
.
.
.
.
.
.
.
FHA (1)
.
.
.
.
.
.
.
.
.
VA (1)
.
.
.
.
.
.
.
.
.
IO Option on ARMs (1)
X
X
.
X
X
X
X
X
X
IO Option on FRMs (1)
X
.
.
.
X
.
X
.
.
Lock Period Assumption
User selects (2)
X
X
.
X
X
X
.
.
.
Site selects, assumption clear? (1)
.
.
X
.
.
.
X
X
X
Lock Procedure Explained (1)
X
X
.
X
.
X
.
.
.
Escrow Assumption
User selects (2)
X
X
X
.
.
.
.
.
.
Site selects, assumption clear? (1)
.
.
.
.
.
.
X
.
.
Sub Financing Assumption
User selects (2)
X
.
.
X
.
.
.
.
.
Site selects, assumption clear? (1)
.
.
X
.
.
.
.
.
X
Prepayment Penalty
Assumption
User selects (2)
X
.
.
.
.
.
.
X
.
Site selects, assumption clear? (1)
.
X
X
.
.
.
.
.
X
Down Payment Assumption
User selects (2)
X
X
X
X
X
X
X
.
.
Maximum clearly noted? (1)
.
.
.
.
.
.
.
X
X
<5% option priced? (1)
X
X
X
.
.
X
.
X
.
Documentation Assumption
Assumption clearly noted? (1)
X
.
X
X
.
X
.
X
.
Stated income option (1)
X
.
X
X
.
X
.
.
.
Low documentation option (1)
.
.
.
.
.
.
.
X
.
No Documentation option (1)
.
.
.
.
.
.
.
.
.
No ratio option (1)
.
.
.
.
.
.
.
.
.
IR/Point Combinations
Points = > 3 (1)
X
X
X
X
X
X
X
X
X
Rebates = > 1 (1)
X
X
X
X
.
X
X
.
X
No-cost (1)
.
.
.
.
.
.
.
.
.
Information on ARMs
Index (1)
X
X
X
X
X
.
X
.
.
Current value of index (1)
X
.
X
.
X
.
.
.
.
Margin (1)
X
.
X
X
X
X
.
X
.
Rate adjustment cap (1)
X
X
.
X
X
.
.
X
X
Maximum rate (1)
X
X
X
X
X
X
X
X
.
Info on Negative Amort ARMs
Payment cap (1)
X
.
.
.
.
.
.
X
.
Loan balance cap (1)
X
.
X
.
.
.
.
.
.
Recast requirement (1)
.
.
X
.
.
.
.
.
.
Settlement Costs
Total shown (1)
X
X
X
X
X
X
X
X
X
Lender fees separated (1)
X
X
X
.
.
X
X
.
.
Lender fees guaranteed (1)
X
X
X
.
.
X
.
.
.
Includes appraisal (1)
.
X
.
.
.
.
.
.
.
Includes credit report (1)
.
X
.
.
.
X
.
.
.
Includes all third party fees (2)
.
X
.
.
.
.
.
.
.
Credit Rating
User selects (2)
X
.
X
.
.
.
.
.
.
Site selects, assumption clear (1)
.
.
.
.
.
.
.
.
.
Shows Niches Covered (3)
X
.
.
.
.
.
.
.
.
SCORE
46
42
37
32
30
29
29
26
25
LENDER
11
12
13
14
15
16
17
18
19
Purpose/Occupancy
Cash-out Refi (1)
.
X
.
X
X
.
.
X
X
Second Home (1)
.
X
X
.
X
X
.
.
.
Investment (1)
.
X
X
.
X
X
.
.
.
Property
2-Unit (1)
.
X
X
.
X
X
.
.
.
3-Unit (1)
.
X
X
.
X
X
.
.
.
4-Unit (1)
.
X
X
.
X
X
.
.
.
Condo (1)
.
X
.
X
X
.
.
.
X
PUD (1)
.
X
.
.
X
.
.
.
.
Co-op (1)
.
X
.
.
.
.
.
.
.
Townhouse (1)
.
.
.
X
X
.
.
.
X
Units under construction (1)
.
.
.
.
.
.
.
.
.
Manufactured (1)
.
.
.
.
.
.
.
.
.
Type of Mortgage
10-year FRM (1)
X
.
.
.
X
.
.
.
.
20-year FRM (1)
X
.
.
X
X
.
.
.
.
1-month ARM (1)
.
.
.
.
.
.
.
.
.
3-month ARM (1)
.
.
.
.
.
.
.
.
.
6-month ARM (1)
X
.
.
.
.
.
.
.
.
1-year ARM (1)
X
X
.
X
.
.
.
.
.
3-year ARM (1)
X
X
X
X
X
.
X
X
X
5-year ARM (1)
X
X
X
X
X
X
X
X
X
7-year ARM (1)
X
X
X
X
.
.
X
.
X
10-year ARM (1)
X
.
.
X
.
.
.
.
.
Flexible payment ARMs (1)
X
.
.
.
.
.
X
.
.
5-year balloon (1)
.
.
.
.
.
.
.
.
.
7-year balloon (1)
.
.
.
.
.
.
.
.
.
FHA (1)
X
.
.
.
.
.
.
.
.
VA (1)
X
.
.
.
.
.
.
.
.
IO Option on ARMs (1)
X
.
.
.
.
.
.
.
.
IO Option on FRMs (1)
X
.
X
.
.
.
.
.
.
Lock Period Assumption
User selects (2)
.
X
.
.
.
.
.
.
.
Site selects, assumption clear? (1)
X
.
.
X
.
.
.
.
.
Lock Procedure Explained (1)
.
.
.
.
.
.
.
.
.
Escrow Assumption
User selects (2)
.
X
.
.
.
.
.
.
.
Site selects, assumption clear? (1)
X
.
.
.
.
.
.
.
.
Sub Financing Assumption
User selects (2)
.
.
.
.
.
.
.
.
.
Site selects, assumption clear? (1)
.
.
X
.
.
X
.
.
.
Prepayment Penalty
Assumption
User selects (2)
X
X
.
.
.
.
.
.
.
Site selects, assumption clear? (1)
.
.
.
.
.
.
.
X
.
Down Payment Assumption
User selects (2)
.
X
X
X
X
X
X
X
X
Maximum clearly noted? (1)
X
.
.
.
.
.
.
.
.
<5% option available? (1)
.
.
X
X
X
X
.
.
.
Documentation Assumption
Assumption clearly noted? (1)
.
.
X
.
.
X
.
.
.
Stated income option (1)
.
.
.
.
.
.
.
.
.
Low documentation option (1)
.
.
.
.
.
.
.
.
.
No Documentation option (1)
.
.
.
.
.
.
.
.
.
No ratio option (1)
.
.
.
.
.
.
.
.
.
IR/Point Combinations
Points = > 3 (1)
X
X
X
X
X
X
X
X
.
Rebates = > 1 (1)
X
.
.
X
X
.
X
X
.
No-cost (1)
.
.
X
.
.
.
.
X
.
Information on ARMs
Index (1)
.
.
.
.
.
.
.
X
.
Current value of index (1)
.
.
.
.
.
.
X
X
.
Margin (1)
.
X
.
X
.
.
X
.
.
Rate adjustment cap (1)
.
X
.
X
.
.
.
.
.
Maximum rate (1)
.
X
.
X
.
.
X
.
.
Info on Negative Amort ARMs
Payment cap (1)
.
X
.
.
.
.
.
.
.
Loan balance cap (1)
.
.
.
.
.
.
.
.
.
Recast requirement (1)
.
.
.
.
.
.
.
.
.
Settlement Costs
Total shown (1)
X
X
X
X
X
X
X
X
X
Lender fees separated (1)
X
X
X
X
.
.
X
.
X
Lender fees guaranteed (1)
X
.
X
.
.
.
X
.
X
Includes appraisal (1)
X
.
.
.
.
.
.
.
X
Includes credit report (1)
X
.
.
.
.
.
.
.
X
Includes all third party fees (2)
.
.
.
.
.
.
.
.
.
Credit Rating
User selects (2)
.
.
.
.
.
.
.
.
.
Site selects, assumption clear (1)
.
.
X
.
.
X
.
.
.
Shows Niches Covered (3)
.
.
.
.
.
.
.
.
.
SCORE
25
24
20
20
19
14
14
12
12
LENDER
1
Purpose/Occupancy
Cash-out Refi (1)
X
Second Home (1)
X
Investment (1)
X
Property
2-Unit (1)
X
3-Unit (1)
X
4-Unit (1)
X
Condo (1)
X
PUD (1)
Co-op (1)
Townhouse (1)
X
Units under construction (1)
Manufactured (1)
Type of Mortgage
10-year FRM (1)
X
20-year FRM (1)
X
1-month ARM (1)
3-month ARM (1)
6-month ARM (1)
1-year ARM (1)
3-year ARM (1)
X
5-year ARM (1)
X
7-year ARM (1)
X
10-year ARM (1)
X
Flexible payment ARMs (1)
X
5-year balloon (1)
7-year balloon (1)
FHA (1)
VA (1)
IO Option on ARMs (1)
X
IO Option on FRMs (1)
X
Lock Period Assumption
User selects (2)
Site selects, assumption clear? (1)
X
Lock Procedure Explained (1)
X
Escrow Assumption
User selects (2)
X
Site selects, assumption clear? (1)
Sub Financing Assumption
User selects (2)
Site selects, assumption clear? (1)
X
Prepayment Penalty
Assumption
User selects (2)
Site selects, assumption clear? (1)
Down Payment Assumption
User selects (2)
X
Maximum clearly noted? (1)
X
<5% option available? (1)
Documentation Assumption
Assumption clearly noted? (1)
X
Stated income option (1)
X
Low documentation option (1)
No Documentation option (1)
No ratio option (1)
IR/Point Combinations
Points = > 3 (1)
X
Rebates = > 1 (1)
X
No-cost (1)
Information on ARMs
Index (1)
X
Current value of index (1)
X
Margin (1)
X
Rate adjustment cap (1)
X
Maximum rate (1)
X
Info on Negative Amort ARMs
Payment cap (1)
X
Loan balance cap (1)
X
Recast requirement (1)
X
Settlement Costs
Total shown (1)
X
Lender fees separated (1)
X
Lender fees guaranteed (1)
X
Includes appraisal (1)
X
Includes credit report (1)
X
Includes all third party fees (2)
Credit Rating
User selects (2)
X
Site selects, assumption clear (1)
Shows Niches Covered (3)
X
SCORE
47
Copyright Jack Guttentag 2005
Jack Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. Visit the Mortgage Professor's web site for more answers to commonly asked questions.
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