1-Year-Old Online Broker Turns Technology Into Profits
September 8, 2003
While many online mortgage companies have gone by the wayside, one Internet mortgage company has been reeling in tons of profits. Amerisave, which incorporated only in January of 2002 and went live in July last year, has done $1.7 billion in originations in its first full year, and processes an average of 1,000 applications per month, with a 70 percent book-to-close ratio, the company said.