As the world’s premier athletes converged on London this month for an international celebration of sports, Mortgage Technology is using the occasion to highlight the mortgage industries in other countries and the systems and software that support those industries.
While the markets each have their unique characteristics, there are also many similarities that mirror the U.S. mortgage finance and technology sectors.
The August issue of Mortgage Technology explores five unique mortgage lending markets, including England, where despite the market still recovering from the downturn, many large lenders are investing in and updating their mortgage technology and Australia, where the Lending Industry XML Initiative, or LIXI, is making great strides in a data standardization mission akin to MISMO in the U.S.
As the infrastructure for a mortgage market begins to take shape in Saudi Arabia, technology will be needed to help process and fund loans that are compliant with Shariah lending practices, which typically involves a rent-to-own model, where lenders purchase a borrower’s home and charges rent until the loan is satisfied.
The story also explores lending and mortgage technology practices in Canada and Spain, as well as the efforts by some domestic technology providers in the U.S. to expand their offerings for other markets and customer bases.
