In my post on Wednesday, I questioned the claim that the dollar value of fraud was surging, arguing that firms had just become more aware of fraud and filing more suspicious activity reports -- but catching onto fraud before ... Online mortgage applications are quick. An online application form takes about four minutes of your time filling it up. Approval can then be given within 24 hours. This is a far cry from the several business days it usually takes for traditional mortgage applications to be approved. In this regard, online mortgages are less time-consuming and even initially paper-free.