Finance Articles

Online Mortgage Calculators - Not All Made Equal

San Mateo, CA (PRWEB) July 29, 2008 -- Today, Backbase, The Ajax Company, released an evaluation of mortgage calculators provided by many of the leading U.S. banks and rated them based on several criteria ranging from ease of use to effectiveness to completeness. Results from U.S. banks were very unequal but the study highlighted the lead of some innovative European banks.

Nowadays more and more mortgage shoppers look for information online, so traditional mortgage lenders need to provide user friendly and effective tools for a better online customer experience. Therefore the online mortgage calculators of six large traditional lenders were compared: Bank of America, Chase, Citibank, Countrywide, Washington Mutual and Wells Fargo. For an international comparison, the Moneyou calculator from ABN AMRO was used.

The criteria used to evaluate the different mortgage calculators were as follows:

* Is the calculator easy to find?

* Does it provide initial results quickly?

* Mortgage specific terms can be confusing so, how is help provided?

* Is Context help available?

* Can we ask questions easily? Was online chat or a toll free number available?

* Can you do what-if scenarios or get instant updates?

* Does it offer real mortgages examples?

* Can you save your scenario and apply directly for a mortgage?

In an "A" through "F" rating, the study found that the U.S. banks evaluated in this exercise were ranging from a grade of B for Countrywide, to C for Washington Mutual and Citibank, D for Chase and Bank of America, and F for Wells Fargo.

Read the details of the findings at: http://www.customerengagement20.com/mortgage-calculator-customer-experience/

The evaluation concluded that traditional U.S. mortgage lenders would be well advised to look closely at tools developed by innovative European financial services. They can leverage some common sense guidelines such as: promoting the calculators on the front page, providing good support via content-sensitive help and live chat, and displaying the phone number prominently. Mortgage calculators should also facilitate what-if scenarios by including the input form on the results page.

"Moneyou, for instance, has taken it one step further, by using real-time updates and graphs," said Jep Castelein, Backbase Senior Product Marketing Manager. "This type of calculator is often classified as a Rich Internet Application and in my opinion this is where the mortgage industry should be heading to provide a superior online customer experience."

A free Backbase Webinar, covering Successful Customer Engagement solutions for financial services, is scheduled on Thursday July 31st at 8AM Pacific Time. To learn more or register, go to: http://www.backbase.com/news/webinars/financial-services/

About Backbase:

Backbase, Inc., The Ajax CompanyTM, is the leading provider of enterprise software for creating Ajax-based Rich Internet Applications (RIAs). Medium to large enterprises and independent software vendors use Backbase to enhance the usability of their Web applications, migrate fat client applications to the Web, deliver next-generation online self-service applications, and create enterprise mashups. Founded in 2003, Backbase is headquartered in San Mateo, California, USA. Additional information is available at www.backbase.com.

Contact:

Michel Gerin

Backbase, Inc.

650-242-4173

michel @ backbase.com

###

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Understanding a UK Commercial Mortgage
In many ways a commercial mortgage is just like a residential mortgage in that you pledge real property as collateral against a loan to either buy or refinance that property. You can also receive a commercial re-mortgage and use it as a line of credit for any business purpose.

Mortgage Advice - Moving Home
Moving home, whilst an exciting prospect is also a cause of stress and anxiety for many due to the large number of variable factors that exist. Undoubtedly one of the greatest concerns for any home mover is both the cost and the availability of their new mortgage arrangements.

Investment Advisor Gregory H. Skidmore to Host "Business Catalyst" Radio Show on 1490 WGCH
Kick off the week with "Business Catalyst" hosted by local Investment Advisor Gregory H. Skidmore. "Business Catalyst" will feature successful business owners and executives who have created a catalyst to take their business to the next level. Learn how to grow your business and career! The show will air every Tuesday at 9:30 am on 1490 WGCH in Greenwich, CT.

Two Steps to an Investment-Free Online Empire
If you're like most of us, you're not on a budget that allows you to spend massive amounts of money on advertising for your Internet marketing campaign. With that in mind, let me show you a fairly simple two-step formula for profiting online with little or no investment.

Outraged Americans Fight Back Against Excessive Government Taxation
As the US economy slides further downward, Americans are finding ways to lower their largest expense: taxes. The tax saving strategies used by the wealthiest people in the country are available to everyone, allowing all Americans to enjoy significant tax savings. This money can then be used to further stimulate the sluggish economy.

10 Signs That You Need a New Mortgage Broker
Being approved for a mortgage can be hard in a difficult economic climate The last thing you need is an unhelpful mortgage broker

Mortgage Broker's Toolkit: Turning Leads into Loans
Converting a mortgage lead into a loan application requires good sales skills, persistence and a qualified mortgage refinance lead. Services-On-Tap™, a mortgage lead provider, has collected the closing secrets from a handful of its best mortgage broker and loan officer clients and has compiled a list of selling techniques that are used consistently by successful mortgage brokers.

Real Estate Agents, Realtors, and Mortgage Brokers Find Hope in Internet Marketing at WowInternetBusiness.com
Real estate professionals being squeezed by the current market conditions are finding relief by joining internet marketing business systems such as www.WowInternetBusiness.com.

Maximize your Returns in Marketing Investment
For a successful business, it is really important that your site receives high ranking in search engines and is outstandingly visible to potential customers.

Bad Credit Mortgage Loans – How To Get Approved
Persistence is the key working toward getting approved for a bad credit mortgage loan. There are many factors that you, as a borrower have control over that can help you get approved faster and easier.

New Powerful Search Tool Revealed by International Property Investment Experts Propertyshowrooms.com
For the first time ever, LIVE up to the minute statistics about worldwide property searches are available in the public domain.

A Review Of The Amerisave Marketing Mortgage Network
Whether you are looking for a quick way to save a bit of cash or you are in a position where you can start taking a look to see what network marketing can do for you, take a look at a marketing mortgage network. A marketing mortgage network is network where small partnerships with various different companies are combined in such a way that the rebates and reselling will start benefiting anyone involved. If you are interested in this sort of money making venture, though, there are a few things that you should be aware of.

UK Mortgage Protection Insurance And The Contents Of Your Home
UK mortgage protection insurance has received negative Press coverage regarding what it can do for the homeowner, but anyone who knows a fair bit about UK mortgage protection insurance will have realised that these Press clippings do not tell the full story of just how good and valuable a product it really is. Experts recommend that homeowners have it, but all too many of them are ignored by individuals who would no doubt benefit from it somewhere down the line.

Balancing Finance And Payables In Real Estate
The foreclosure crisis has rippled all from first to last the wider markets and is hitting big financial losses on mortgage-backed securities and institutions with other concerned assets These delays have led the institutions to hold back and cut down the lending process, since it threatens to move forward the broader economy into depression

Swapadoo -- an easy way to reap back value, variety and fun from your holiday property investment.
Why Pay to Stay When It's Free to Swap?