Mortgage Borrowers Are Like All Bill Payers, Many Wait to Pay Until The Last Minute
July 7, 2006
Unlike online mortgage applications that borrowers have eschewed, electronic payment options seem to be taking off. A study conducted by Crone Consulting and commissioned by vendor Fort Knox National Company, has found that electronic payment use is expected to double by 2007. This is good news for mortgage firms because they can offer payment services that help nurture reliable bill paying habits and in turn lessen administrative costs to pursue late payments, among other…