While the Internet has sparked frenzied movements in the financial world such as online banking and online stock trading, the mortgage industry has been a bit of a laggard in the digital world. Only recently have institutions begun using the World Wide Web for potential borrowers to apply for mortgages, and the trading of mortgage pools has been virtually non-existent.

Then along come companies such as Pedestal Capital and Ultraprise.com, which are competing for the title of the best online secondary market outlet. And Ultraprise.com just may have an advantage.

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