Dexma Sees Bright Mortgage Future

Members of the so-called Generation X now represent more than half of mortgage borrowers, which means the long-term outlook for the mortgage industry is bright, according to Minneapolis-based Dexma. Citing research on 230,000 mortgage loan applications from over 1,100 lenders using Dexma mortgage technology, the company reported that Gen Xers -- those born from 1965 to 1979 -- represented more than 50% of the mortgage customers. In addition, 64% of borrowers had a credit score of 680 or higher, leading to instant approvals for 58% of the applicants who used a brief online application process, Dexma said. "Plenty of quality Gen X borrowers are going to online sites, and they're expecting and getting instant approvals," said Dexma president Steve Mase. The company can be found on the Web at http://www.dexma.com.