Technology Investment Is Rising

The mortgage lenders that will stay in business are those spending on tech right now, said MBA chief economist Doug Duncan at a press briefing at the MBA tech conference now underway in San Diego.While the cost per loan spent on production technology rose year over year from an estimated $99 for 2004 to $119 for 2005, he said the smart companies are choosing to reinvest in technology between the end of the refinancing boom and the time when declining loan volumes put the brakes on new technology projects. The MBA MISMO e-mortgage group announced several new releases, including an e-mortgage closing guide, and an e-closing cost benefit analysis white paper showing how to calculate the ROI for e-closings. Responding to growing concerns over security, MISMO also issued a white paper on data security.