The Mortgage Technology Awards have a long tradition in the mortgage finance and technology industries for recognizing innovative technology developers and users that are promoting more efficient and cost-effective lending practices.
In its 12th year, the awards are among the most coveted in the industry. National Mortgage News' affiliate Mortgage Technology magazine will present this year's awards during a cocktail reception and ceremony at 7 p.m. on Sunday, Oct. 9 at the Hyatt Regency Chicago.
2011 marks a new era for the Mortgage Technology Awards in more ways than one.
The Mortgage Technology Awards have evolved over time to stay on the cutting edge of the industry's critical technology needs and recognizing the developers and users of vital advances. Continuing that this year, there are two new award categories.
Mobile technology has come a long way since the car phones of the '70s and '80s, and the tablet craze is promoting seemingly limitless advances. Mobile mortgage technology is still in its infancy and the new Harnessing Mobile Award commends those leading the way in the development and implementation of mobile technology in the mortgage industry.
The online channel has increasingly taken on new importance for lenders, bolstered by the ever-growing consumer demand for online shopping and the prevalence of new platforms and venues for lenders to reach potential borrowers. The Online Originator Award recognizes a lender with a comprehensive strategy to use Web-based technologies to generate borrower leads and convert them into closed loans.
The other eight 2011 award categories include the 10X, Fix-It, Green Lender, Lasting Impact, Release of the Year, Servicer of the Year, Steve Fraser Visionary and Synergy awards.
There will also be a new look to this year's ceremony videos. Rather than have finalists each produce their own submission, the judges panel has put together captivating videos that highlight the accomplishments of each award's finalists. The videos will premiere during the ceremony and after the show, they will be available online at mortgage-technology.com.
For the third year, the Mortgage Technology Awards will include categories that recognize lenders and servicers. In addition, this year's Top Tech-Savvy Lenders that were recently revealed in Mortgage Technology will be recognized during the MT Awards ceremony.
The Mortgage Technology Awards began in 2000, the successor to the magazine's annual Dream Team list of technology leaders.
When the Mortgage Technology Awards were founded, Mortgage Technology editors sought the knowledge and expertise of those leaders and other industry participants to identify key attributes that the awards should recognize.
Since then, the Mortgage Technology Awards have recognized applications and strategies that promote automation and cost savings, the innovative development of new technology and success in eliminating waste and delays in the mortgage process.
The inaugural Mortgage Technology Awards in 2000 were presented in six categories, while a seventh was added in 2001. Lender and servicer categories were then added in 2009. Different categories have come and gone as the industry needs evolve, but for more than a decade, the Mortgage Technology Awards have stood as a symbol of excellence.
To be considered for the Mortgage Technology Awards, mortgage industry participants, including lenders, servicers, vendors and service providers must be nominated. Nominees are allowed to apply themselves, and many do; while others are nominated by their peers, vendors or clients. Nominees are limited to only two award categories per year.
Judging is conducted by the three-member panel of Mortgage Technology's editorial staff. The panel adheres to the same strict standards of objectivity and unbiased conduct that dictate the editorial process for all SourceMedia publications.
The judges reviewed the nominations and selected up to three finalists in each category. The finalists were named in the August issue of Mortgage Technology, but hundreds got a sneak peak of the announcement in a video released exclusively to NMN's followers on Facebook before the magazine was published.
The judges conducted additional reviews of the finalists, many of whom came to SourceMedia headquarters in New York for on-camera interviews that will be shown during the MT Awards Ceremony. The winning finalists are kept secret until they are announced at the ceremony. The winners will also be published in the October issue of Mortgage Technology.
