Market Analysis: Don’t Sit Back, Act

*Don’t Sit Back, Act*
**By Tony Garritano**

***Okay, the column today might not be for everyone, but I am so upset right now. Everyone who knows me knows how passionate I am about mortgage automation. Everyone who knows me also knows that I love the singing competition shows. Last night both of my passions came together and really made me think. Here’s what I concluded:

****First, too often lenders are failing today because they are not acting. The regulatory environment alone calls for lenders to automate. I scratch my head when I hear lenders aren’t doing something as simple as e-delivery. That’s a no-brainer. My mouth drops to the floor when I hear that some lenders are still using e-mail to send sensitive documents. WOW! You have to act Mr. Lender. You have to automate.

****Second, I’m a proud Dad of two great little boys. My boys are just amazing, if I do say so myself. However, I’ve always wanted a little girl. This year on the X-Factor (the new Simon Cowell singing competition) I have fallen in love with 14-year-old Rachel Crow. She was a baby born addicted to drugs, left behind by her birth parents. This nice couple adopted her and really gave her a second chance at life. Watching Rachel has touched my heart. Last night because of the inaction of one of the judges Rachel was sent home. I was, and still am, shocked and angry.

****Last night, for me, was just another example of how bad things happen when you don’t act. So, I hope lenders are reading this. Don’t delay. Now is the time to improve your process by moving to automate.

****And by the way, check this out:


****Don’t tell me that this little girl isn’t amazing. She is the X-Factor.

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at