The mortgage is the largest obligation that people take on and it's very expensive to get a mortgage and very painful. It's not a fun process. So we've invested quite a bit of money in using the Internet and e-commerce to make it easier. Fannie Mae has become one of the largest e-commerce companies in the world. Last year, we underwrote through automated underwriting and electronically, two and a half million loans, 300 billion of transactions. This year will be over 400 billion. So e-commerce is moving into the mortgage sector and it's going to affect everybody.
Quotes about underwrote (3 Quotes)
How many times have we seen an analyst on television being asked to list his top five picks And how many times has that analyst taken the opportunity to caution viewers, 'By the way, my employer recently underwrote three of these stocks'
The City of Placerville has suffered greatly from losses in several bond issues as a result of reliance on the advice of a financial advisory firm that also underwrote our bond issues.