eMortgage Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Conventional Mortgage, Adjustable-Rate Mortgage, Fixed-Rate Mortgage, Government Insured Mortgage, Others), End User (Corporate and Individual), and Geography

The eMortgage market is expected to register a CAGR of 18.1% in 2023–2031. Hybrid closing and eClosing and smart contracts are likely to remain key eMortgage market trends.

eMortgage Market Analysis

An eMortgage is a digitally developed and stored counterpart of traditional mortgage documentation. It can also refer to a fully electronic mortgage procedure, such as eClosing and digital document signature. An electronic mortgage is a mortgage document that is created, exchanged, and stored digitally. eMortgages differ from normal conventional mortgages in a few respects, but they all follow a similar loan application process and serve the same purpose: to fund a borrower's house purchase.

eMortgage Market Overview

Various mortgage tech trends are driving the expansion of the eMortgage business since digital technology offers numerous benefits, including streamlined loan origination and informed decision-making, as well as increased compliance and operational efficiency. Mortgage sector innovations such as open banking and blockchain are offering new chances to expand the market for digital lending.

REGIONAL FRAMEWORK

eMortgage Market Drivers and Opportunities

Rising Digitalization in Mortgage Services to Favor Market

Digitization speeds up mortgage approvals, reduces paperwork difficulties, and simplifies processes for both lenders and borrowers. Digital platforms reduce expenses for lenders, allowing them to provide competitive interest rates, while borrowers benefit from cheaper fees, making housing more accessible. Consumers prefer the simplicity and flexibility that come with digital operations, including digital lending possibilities. They've become accustomed to online purchases and now want any company they engage with to provide a fully digital customer journey.

Use of Blockchain Technology for eMortgage – An Opportunity in eMortgage

Blockchain technology has the potential to improve efficiency and affordability in the mortgage market. Smart contracts are codified sets of rules that are executed when a specific event happens. For example, if a customer acquires homeowners’ insurance, the mortgage might go to the following step immediately. In September 2021, the Chinese state-owned Bank of Communications (BoCom) used blockchain technology to create $1.3 million in digital mortgages. The technology improved transparency for all parties involved and allowed commercial processes to be carried out more efficiently.

eMortgage Market Report Segmentation Analysis

Key segments that contributed to the derivation of the eMortgage market analysis are type and end user.

• Based on the type, the eMortgage market is divided into a conventional mortgage, adjustable-rate mortgage, fixed-rate mortgage, government insured mortgage, others.
• By end user, the market is segmented into corporate and individuals. The corporate segment held the largest share of the market in 2023.

eMortgage Market Share Analysis by Geography

The geographic scope of the eMortgage Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America has dominated the eMortgage market. Rapid digital transformation in financial serviecs and blockchain technology in North America countries are driving the demand for eMortgage in the region. The eMortgage market is undergoing substantial development in North America, which can be attributed to changing consumer behavior with demands of reducing manual process and minimizing paperwork.  

MARKET PLAYERS

eMortgage Market Report Scope

eMortgage Market News and Recent Developments

The eMortgage market is evaluated by gathering qualitative and quantitative data post-post-primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for eMortgage and strategies:

• Blend, a leading provider of cloud banking services announced the release of Blend IMB Essentials, a new iteration of Blend's mortgage suite designed to give the most critical features to retail independent mortgage banks (IMBs) in today's competitive market. (Source: Blend, Press Release, 2023)

eMortgage Market Report Coverage and Deliverables

The “eMortgage Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles

eMortgage Report Scope