Commercial Technology Special Report
With an economy in slow gear and concern mounting about a possible increase in commercial mortgage defaults, most lenders are worried about beefing up loan resolution and loan workout expertise. But they shouldn't overlook technology. Technology can make even labor-intensive processes like default management more efficient, as has been the case on the residential side of the business.
For that reason, lenders and the vendors they work with have been increasingly turning to new technology to speed up commercial servicing and improve communication between parties who have a stake in the loan.
The advent of commercial mortgage-backed securities has only increased the need for technology. Increasingly, the top CMBS servicers are using the Internet to communicate with investors and borrowers. That trend toward more electronic commerce is likely to continue.
And as commercial real estate loan servicing becomes more complex, with more parties sharing a role in the process, we expect to see technology become an increasingly important differentiator between firms.
Copyright c 2002 Thomson Media. All Rights Reserved.