If you've been courting Generation X and Yers, maybe you should now follow the lead of the online mortgage industry.
Online lenders say targeting younger borrowers is passe.
Instead, they're returning to the baby boomer generation, which is both knowledgeable of the Web and has more money. Forrester Research, which predicted that 10 percent of the mortgage market will have moved online by 2003, also said that 38 percent of the under-30 crowd is online. Nonetheless, said the research group, baby boomers remain a more lucrative market. Mortgage Bankers President Kevin P.Maloney believes boomer-targeted Internet offerings have an enormous potential. Among the products to be offered on the revamped site are subprime and conforming mortgages, home equity loans, investor services, and estate planning seminars.