Lenders Cautious On Tech Spending
With refinancing activity slowing down, lenders are starting to consider technology investments that can make their servicing shops more efficient.
But they want to know they can capitalize those investments over a reasonable timeframe, according to a senior executive at Fiserv Lending Solutions.
"When you look at what the market place is wanting, it is the systems technology solutions that can deliver a return on investment to them," said John Tenuta, division president for loan management products at Fiserv Lending Solutions.
Speaking to MSN during the recent MBA National Mortgage Servicing conference in Orlando, Mr. Tenuta said that workflow and tools for automation are hot items on the industry's agenda. Lenders are also eager to maximize integration, especially between loan origination and servicing systems.
But before CFOs make a decision about a technology investment, they want to see the "P&L" numbers that will make a case for the purchase.
Fiserv has sought to meet this demand with a thin-client, browser-based system that minimizes technology hardware needs on the user's side.
Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com