Mortgage websites need to increase ease of use -- report

by Ryan Smith26 Nov 2013
Mortgage websites are about as simple to use as most other financial sites, but they don’t compare to e-commerce sites like Walmart.com and Amazon for ease of use, according to data released recently.

According to a new study by analytics firm Change Science, many mortgage sites aren’t establishing a rapport with customers because of their complexity. The study looked at the ease of use and user engagement for the mortgage websites of Bank of America, BB&T, Chase, Citigroup, ERA Mortgage, PNC Home Lending, PNC Mortgage, Quicken Loans, TD Bank, US Bank, and Wells Fargo.

Although the sites studied by Change Science were about as usable as financial sites on average, they were less usable than personal finance sites and much harder to use than e-commerce sites, electronics shopping sites and sites that booked airfare or hotels.

“Unlike other industries we study, no one mortgage site stands out as the leader of the pack,” the report stated. “The top three mortgage sites differ by no more than 2 points overall.”

One big bank had an especially unwelcoming site, according to Change Science. Bank of America’s mortgage website was rated as 14% less usable and 13% less engaging than the top sites in the study.

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