RICHMOND, Va. — Charter One Mortgage Corp., a subsidiary of Charter One Financial Inc., last week began approving residential mortgages online.

The web site, www.charteronedirect.com, will provide customized rate quotes, national closing cost data, online disclosures and loan status information, same-day rate lock, and online fee payments.

“In short, our new system will enable consumers to perform nearly all of the steps in the loan origination process online,” said Richard D. Powers, president and chief executive officer of Charter One Mortgage.

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