1 In 3 Consumers Would Consider a Walmart Mortgage

  1 In 3 Consumers Would Consider a Walmart Mortgage

  Carlisle & Gallagher Consulting Group consumer mortgage study finds 80% of
       consumers are willing to use a non-bank for their next mortgage

Business Wire

CHARLOTTE, N.C. -- December 03, 2012

Carlisle & Gallagher Consulting Group (CG, www.carlisleandgallagher.com), a
management and technology consulting firm serving the financial services
industry, today released findings from its U.S. consumer mortgage study.

CG surveyed consumers to learn about their views toward home ownership, how
recent changes in the mortgage industry impacted their application experience,
what factors are most important in the mortgage application process, and if
consumers would be willing to consider an alternate mortgage provider.

According to the 618 U.S. consumers who participated in CG’s online study in
September 2012:

  *80% of U.S. consumers would consider a mortgage from a non-bank
  *1 in 3 consumers would consider a mortgage from Walmart
  *48% would consider a mortgage from PayPal

Although, consumer satisfaction with primary banks ranked high (81%) the study
reveals continued frustrations with current mortgage processes that could
drive consumers to alternative home loan providers:

  *High interest rates, high payments, and taxes and escrow are the top three
    most frustrating issues regarding consumers’ current mortgages
  *56% of consumers blame slow execution as one of the most painful aspects
    of the mortgage process
  *32% said difficult to communicate with
  *31% said unable to track the status of their mortgage application
  *26% said untrustworthy advice

“Consumer attitude is driven by three things, price, service and trust,” said
Doug Hautop, Senior Manager and Lending Practice lead for CG. “Institutions
looking to gain market share must target customer values instead of
traditional asset segmentation.”

For more information about this study you can listen to the webinar with
Corporate Executive Board’s (CEB), Craig Focardi, entitled: “U.S. Mortgage
Lending: Strategies to Gain Share in the New Normal”

To request a copy of CG’s research report on Consumer Mortgages available in
January, email insight@cgcginc.com.

About Carlisle & Gallagher Consulting Group

Carlisle & Gallagher Consulting Group (CG) is a management and technology
consulting firm that delivers large-scale, complex technology solutions for
the world’s leading financial services organizations. We help our clients
solve their most critical business and technology problems. Headquartered in
Charlotte, NC, CG is inspired to help our stakeholders succeed – from clients
to employees to the communities in which we live and work. For more
information, visit www.carlisleandgallagher.com.


Carlisle & Gallagher Consulting Group
Melody Callaway, 704-247-3640
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