Site Details of: E-Loan

Total Page View: 42 and Total Site Visit: 5
Total visitors who Rated this site: 0 : (0%)

Current Overall Rating: 1.35
Rate this Site

Site Title:

E-Loan

URL:

http://www.e-loan.com/

Category:

Mortgages

Description:

Founded in 1996 and public since June 1999, E-Loan`s goal is to be the leading one-stop source of tools, services and unbiased information to help customers best manage their debt. In support of this goal, E-Loan maintains relationships with over 70 lenders. Consumers apply online and are notified of pre-approval by e-mail within 48 hours. Once approved, consumers can lock in a rate with no obligation. In the past three months, E-Loan has aggressively expanded its market reach, launching joint ventures in the U.K., Europe, Japan, Australia and New Zealand, and in June will begin partnering with Charles Schwab, in addition to existing relationships with E*Trade and other portals and financial services providers.

Benefits:

E-Loan earned the number-one ranking for the Ease Of Use category for the third consecutive quarter. E-Loan`s Web site offers elegant navigation across multiple loan categories, a robust loan status tracker, a new "My E-Loan" personal page and a simplified loan application process called Express Mortgage. My E-Loan allows users to track selected products, market analysis and current loan status from a single personalized page. E-Loan`s Express Mortgage offers "A" credit borrowers a streamlined approval process with less paperwork, faster turnaround times and reduced fees. Finally, E-Loan builds consumer confidence with a money back on-time closing guarantee. In addition, the firm has its privacy policy audited by a third party and posts the opinion letter on its site for consumers to view.

Shortfalls:

E-Loan lacks key money back guarantees confirming call back time, closing costs, lowest market rate with consumers. This is particularly critical since the firm`s Overall Cost competitiveness lagged industry leaders. E-Loan does not yet make instant online approvals generally available, although the firm is testing instant underwriting in selected markets. Site speed lagged industry norms during the test period.

Review Scores:

Category	Scores	Ranks
Overall	1.35	105
Ease Of Use	0.00	369
Customer Confidence	0.00	369
On-Site Resources	7.00	46
Relationship Services	6.50	108
Cost Effective	0.00	369