Offering useful insights into the realm of consumer-direct, Web-based mortgage lending, Mortgagebot LLC, Mequon, Wis., has announced the release of its Benchmarks 2007 study of online lending practices.The study showed that a quarter of the lenders studied "now originate more than half of their loan volume via the online channel." Research participants include 25 of the top 100 banks and thrifts and 40 of the top 100 credit unions. Confirming trends and "debunking" some myths, the study offers detailed data analysis of loan product and decisioning statistics, online borrower behavior and website usage, lender website configuration and marketing, and more. The study showed that online loan seekers tend to be young, affluent, and creditworthy, with an average income above $85,000 and an average credit score above 700. The study is based on a comprehensive survey and analysis of the online lending practices and procedures at more than 3,600 mortgage lending websites maintained for Mortgagebot's more than 700 clients nationwide. The company can be found online at http://www.mortgagebot.com.

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