Bank of America is launching a digital mortgage platform, HousingWire staffer Ben Lane reports. Customers will be able to complete the mortgage application process either via their mobile device or on Bank of America’s website.
Since Quicken Loans unveiled its “Rocket Mortgage” in November 2015, megabanks like Wells Fargo, JPMorgan Chase, and CitiMortgage have also started offering digital mortgages.
And while JPMorgan Chase and Wells Fargo’s digital mortgage platforms are still in development and due to roll out later this year, Bank of America’s digital mortgage platform, which it calls the “Digital Mortgage Experience, is available now.
According to the bank, the application has “advanced” prefill capabilities, which allows for many aspects of their mortgage application, like their contact information and banking and investment data from their Bank of America accounts, to be auto-populated.
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