BOK Financial Corp. has opened an Internet mortgage lending channel to expand its reach nationwide.
The new Internet lender is called HomeDirect Mortgage and it is based in Kansas City, Mo. BOKF senior vice president Todd Geiman is in charge of the consumer direct lending channel.
“It will help us tap into consumers who want to do business over Internet,” said Ben Cowen, president of the BOKF mortgage group.
“It is brand new,” he told NMN. HomeDirect Mortgage was just listed on Zillow this week.
Cowen noted that more consumers are shopping on the Internet and getting more comfortable doing business on the internet. “Long term, you need to be in this space,” Cowen said.
BOKF is based in Tulsa and it originated $1.27 billion in residential loans in the second quarter. A regional lender, over 70% of its mortgages came from outside Oklahoma. BOKF is also expanding its correspondent channel nationwide.