Market Overview:
The global mortgage and loans software market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mortgage and loans software due to the rise in online banking and e-commerce activities. In addition, the growing need for automation of loan processes is also contributing to the growth of this market. The global mortgage and loans software market can be segmented on the basis of type into fixed rate, floating rate, and others. On the basis of application, it can be divided into purchase loan mortgage, refinance loan mortgage, non-housing mortgage (such as car or personal loans), among others. Regionally speaking, North America dominates this market followed by Europe and Asia Pacific respectively.
Product Definition:
Mortgage and Loans software is a computer program used by banks, credit unions, and other lending institutions to process mortgage and loan applications. The software typically includes an application for the borrower to complete, as well as underwriting guidelines and a credit scoring model. Once the application is complete, the software will calculate the applicant's risk score and determine whether or not to approve the loan. Mortgage and loans software can also be used to track mortgage originations, defaults, foreclosures, etc.
Fixed Rate:
Fixed-rate mortgage (FRM) is a type of home loan in which the interest rate and principal are agreed upon at the time of lending. The fixed-rate periodical payments made by the borrower make it easier for both parties, as there is less work to be done. In many countries, FRMs are used extensively as they help borrowers save on their overall housing cost and also helps lenders in getting an easy approval process with minimal documentation.
Floating Rate:
Floating rate is a type of variable-rate mortgage where the interest rate and the principal amount are dependent on market conditions at the time of loan inception. The floating rate mortgage allows borrowers to make payments based on their income and other factors. This type of product has been gaining popularity among consumers owing to its ability to help them avoid PMI (Private Mortgage Insurance) fees, lower monthly payments, and reduce their overall interest expense.
Application Insights:
The application segment includes purchase loan mortgage, refinancing loan mortgage, and non-housing mortgages. The purchase loans accounted for the largest market share in 2017 owing to the growing demand for residential property across various regions coupled with increasing disposable income levels of consumers.
The refinance loans also held a significant market share in 2017 as many consumers preferred to take advantage of low interest rates offered by banks and other financial institutions on existing mortgages to reduce debt levels. Furthermore, an increase in home ownership rates across various countries is expected to boost demand over the forecast period.
Non-housing mortgages are anticipated to witness considerable growth over the forecast period due largelyto increased consumer spending on home improvement activities such as new constructions or alterations that require additional financing from banks or other financial institutions.
Regional Analysis:
North America dominated the global market in 2017. The U.S., as a developed economy, has been witnessing steady growth in its housing sector over the past few years, which is expected to positively impact the overall industry growth over the forecast period. Furthermore, technological advancements and increasing demand for mortgage loans are also expected to drive regional growth during the forecast period.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to rising disposable income and improving economic conditions of various countries such as China and India that are contributing significantly towards overall regional market development. Moreover, government initiatives encouraging home loan investments through tax benefits or subsidies on home loan interest rates are further driving this trend across Asia Pacific region thus making it one of most lucrative regions for investors looking for high returns with low risks involved (i.e., fixed rate mortgages).
Growth Factors:
- Increasing demand for mortgage and loans software from small and medium-sized businesses (SMBs)
- Rising need for automation in the mortgage and loans software industry to manage growing volumes of data
- Proliferation of cloud-based solutions that offer flexibility, scalability, and cost-effectiveness
- Emergence of new technologies such as big data, artificial intelligence (AI), and machine learning that can help lenders make better decisions about mortgages and loans
- Growing popularity of mobile apps for banking and financial transactions that can benefit the mortgage & loan software market
Scope Of The Report
Report Attributes
Report Details
Report Title
Mortgage & Loans Software Market Research Report
By Type
Fixed Rate, Floating Rate, Others
By Application
Purchase Loan Mortgage, Refinance Loan Mortgage, Non-housing Mortgage
By Companies
Quicken Loans Inc., PennyMac loan Services, LLC, Wells Fargo Bank, National Association, United shore Financial Service, LLC, Freedom Mortgage Corporation, JPMorgan Chase Bank, National Association, Caliber Home Loans, LLC, AmeriHome Mortgage Company LLC, LoanDepot.com LLC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Mortgage & Loans Software Market Report Segments:
The global Mortgage & Loans Software market is segmented on the basis of:
Types
Fixed Rate, Floating Rate, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Purchase Loan Mortgage, Refinance Loan Mortgage, Non-housing Mortgage
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Quicken Loans Inc.
- PennyMac loan Services, LLC
- Wells Fargo Bank, National Association
- United shore Financial Service, LLC
- Freedom Mortgage Corporation
- JPMorgan Chase Bank, National Association
- Caliber Home Loans, LLC
- AmeriHome Mortgage Company LLC
- LoanDepot.com LLC
Highlights of The Mortgage & Loans Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fixed Rate
- Floating Rate
- Others
- By Application:
- Purchase Loan Mortgage
- Refinance Loan Mortgage
- Non-housing Mortgage
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mortgage & Loans Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mortgage & Loans Software is a software application that helps mortgage lenders and borrowers with the process of obtaining a loan. The software includes features such as an online application system, pre-approval tool, and loan tracking system.
Some of the key players operating in the mortgage & loans software market are Quicken Loans Inc., PennyMac loan Services, LLC, Wells Fargo Bank, National Association, United shore Financial Service, LLC, Freedom Mortgage Corporation, JPMorgan Chase Bank, National Association, Caliber Home Loans, LLC, AmeriHome Mortgage Company LLC, LoanDepot.com LLC.
The mortgage & loans software market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mortgage & Loans Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mortgage & Loans Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mortgage & Loans Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mortgage & Loans Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mortgage & Loans Software Market Size & Forecast, 2020-2028
4.5.1 Mortgage & Loans Software Market Size and Y-o-Y Growth
4.5.2 Mortgage & Loans Software Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Fixed Rate
5.2.2 Floating Rate
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Purchase Loan Mortgage
6.2.2 Refinance Loan Mortgage
6.2.3 Non-housing Mortgage
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mortgage & Loans Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mortgage & Loans Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Fixed Rate
9.6.2 Floating Rate
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Purchase Loan Mortgage
9.10.2 Refinance Loan Mortgage
9.10.3 Non-housing Mortgage
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Fixed Rate
10.6.2 Floating Rate
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Purchase Loan Mortgage
10.10.2 Refinance Loan Mortgage
10.10.3 Non-housing Mortgage
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Fixed Rate
11.6.2 Floating Rate
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Purchase Loan Mortgage
11.10.2 Refinance Loan Mortgage
11.10.3 Non-housing Mortgage
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Fixed Rate
12.6.2 Floating Rate
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Purchase Loan Mortgage
12.10.2 Refinance Loan Mortgage
12.10.3 Non-housing Mortgage
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Fixed Rate
13.6.2 Floating Rate
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Purchase Loan Mortgage
13.10.2 Refinance Loan Mortgage
13.10.3 Non-housing Mortgage
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mortgage & Loans Software Market: Competitive Dashboard
14.2 Global Mortgage & Loans Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Quicken Loans Inc.
14.3.2 PennyMac loan Services, LLC
14.3.3 Wells Fargo Bank, National Association
14.3.4 United shore Financial Service, LLC
14.3.5 Freedom Mortgage Corporation
14.3.6 JPMorgan Chase Bank, National Association
14.3.7 Caliber Home Loans, LLC
14.3.8 AmeriHome Mortgage Company LLC
14.3.9 LoanDepot.com LLC
