Big appetite.

Position:Portfolio
 
FREE EXCERPT

TECHNOLOGY IS A TOUGH MANAGEMENT ISSUE FOR MORTGAGE BANKERS. WHEN BIG investments in technology work, they're worth every penny. When they flop, they can take down companies, chief executives and vendors. Little wonder many mortgage executives sometimes find the topic hard to stomach.

Many have tried to produce reliable metrics to judge return on investment or other hard-dollar measures of the benefits of technology investments. More often than not, these efforts yield little. It's hard for managers to commit the big dollars technology commands without any guarantees at all. On the one hand, they see companies that seem to be gaining on the pack with their successful direct-consumer-lending online channels, as well as cutting-edge wholesale/broker sites. But what they see is just the tip of the iceberg of a complex and large investment in technology engineered by vendors and information technology (IT) professionals that seem to speak another language. And for all the stories about successful installations, there are probably many more written off as dead-ends.

In this issue we look at the money side of technology. We examine the big dollars it takes to develop successful solutions for the mortgage...

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