TITLE

Underinvestment In Tech Drove Foreclosure Mess

AUTHOR(S)
Sisk, Michael
PUB. DATE
November 2010
SOURCE
Bank Technology News;Nov2010, Vol. 23 Issue 11, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
55413825

 

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