Faster Approvals

Comerica Bank has added new technology that it says allows it to approve mortgage applications in 45 minutes or less and to close on home purchases in five days.

The Mortgage in Minutes technology allows mortgage representatives to complete a loan application using a laptop computer. The application is then submitted electronically and a decision is rendered and sent back.

The service is available in Texas, California, Florida and Michigan.

Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 2, 2/00