Underinvestment In Tech Drove Foreclosure Mess

Sisk, Michael
November 2010
Bank Technology News;Nov2010, Vol. 23 Issue 11, p12
Trade Publication
The article offers the author's insights on the technology underinvestment in the mortgage industry which resulted to foreclosure issue. The author notes the solutions offered by several information technology (IT) firms such as one by Dorado Corp. which automatically signs documents of loans and one by Fair Isaac Corp. (FICO) on mortgage portfolio optimizer. According to Terry Wakefield of Wakefield Co., the industry has declined to invest in technology due to the struggle in budgetary dollars.


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