The on-line mortgage aggregator market is more crowded than ever. The prevailing sentiment among the largest banks: If you can't beat 'em, hurry up and get on their Web sites.
E-Loan, a Palo Alto-based Internet mortgage broker, logged its 1,000th on-line application in October and averages 885,000 hits per month, less than four months after the site was launched. Bank of America, NationsBank and Countrywide are among the big lenders on E-Loan's site. Intuit followed last month with its QuickenMortgage site. Among the charter lenders are Chase Manhattan Mortgage and PNC Mortgage.