Chase Eyeing Multilender Website

Chase Manhattan Mortgage, Edison, N.J., is considering developing its own multilender website, according to Dave Matthews, the company's senior vice president and CIO.Mr. Matthews told MortgageWire that "the growth of the Internet has been faster than anybody in technology, or on the business side, had anticipated." Because of the rapid growth, Chase plans to unveil a new homepage in September that directs borrowers to the site's consumer channel or correspondents to the site's business channel. Over time, Chase plans to phase in technology that allows correspondents to lock in loans online as well as provide borrowers the opportunity to receive a credit decision within 15 or 20 minutes. Mortgage brokers will also be able to access Chase's website from the borrower's kitchen table and receive a lending decision. Chase's website address is http://www.chase.com.