BOK Financial Corp. (BOKF) in Tulsa, Okla., is launching an online mortgage sales channel that will allow the company to reach prospective home buyers in all 50 states.
With the debut of HomeDirect Mortgage, BOK hopes to tap into the growing segment of borrowers who shop for mortgages online and on mobile devices. The channel supplements BOK's mortgage division, which originated roughly $4 billion of loans in 2012.
When borrowers search online loan aggregators like Zillow for mortgage rates in their areas, they can now see offers priced by HomeDirect. If a consumer selects HomeDirect's offer, the aggregator notifies the company, which may then directly contact the potential homebuyer.
"Most of the competition approaches consumer direct leads from a refinance perspective. Instead, we're focused on the purchase," Todd Geiman, senior vice president of HomeDirect Mortgage, said in a Wednesday press release. "We're also backed by a $28 billion financial services company, which puts us in a strong competitive position."
HomeDirect Mortgage is based in Kansas City, Kan.