Bank of America launches a (mostly) digital mortgage

Bank of America has launched a digital mortgage service that is being rolled out in stages across the country through Monday.

“We’re seeing more digital mortgage discussion now" for various reasons, said Craig Focardi, senior analyst at Celent. They include Quicken's success with digital mortgages, record highs in manual loan processing costs per origination, and the increased adoption of standards set by the Mortgage Industry Standards Maintenance Organization, he said.