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Stock impact report

Online mortgages: Lenders, pros and cons [CNBC]

Ally Financial Inc. (ALLY) 
Last ally financial inc. earnings: 4/20 07:30 am Check Earnings Report
US:NYSE Investor Relations: ally.com/about/investor
Company Research Source: CNBC
Homebuyers are increasingly choosing online mortgage lenders : Between 2013 and 2023, online lenders and other non-bank institutions more than doubled their share of the mortgage market, from 24% to 55%, surpassing traditional banks. E-lenders often have lower rates, faster closing times and a broader range of mortgage products than traditional banks. Online giant Rocket Mortgage is the largest direct home loan provider in the U.S., and consistently ranks near the top of J.D. Power's surveys on customer satisfaction with the mortgage process. That doesn't mean there aren't hiccups, though. Online lenders Ally Bank and Discover both wound down their home loan businesses in 2025. Is an online mortgage right for you? The answer isn't always cut and dry. Online mortgage lenders can often help homebuyers with lower interest rates and faster closing times What is an online mortgage lender? While most banks have robust digital offerings, an online lender has no physical location Show less Read more
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