eMortgage Market Report - (Growth and Size by 2031)
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 2018, 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.
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MARKET PLAYERS
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 2018, 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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The global eMortgage market is expected to grow at a CAGR of 18.1% during the forecast period 2023 - 2031.
Digitalization in mortgage services and focus on consumer convenience are the major factors that propel the global eMortgage market growth.
Hybrid closing eClosing and smart contracts are anticipated to bring new eMortgage market trends in the coming years.
The key players holding the majority shares in the global eMortgage market are Blend, Roostify, StreamLoan, and SimpleNexus.
In terms of revenue, the corporate segment held the major market share in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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