This Is The Moment

We all draw inspiration from different sources. A lot of my inspiration comes from my kids. I have two boys and I am a VERY proud Dad. It’s cliché to say that my kids make me a better man, but they really do. So, what’s happening in my family now worth sharing here with you? My older son is getting ready to audition to be in his first musical.

For me this is a particularly special moment. Why you might ask? As a boy my grandmother would take me to a different Broadway musical every year for my birthday, so I love musical theater. To see my son up there performing would be just amazing to me. But first comes first, he has to get a part. So, we’re trying out different songs for his audition. There’s a song called “This Is The Moment” from Jekyll and Hyde The Musical that I think would be perfect. It starts like this:

This is the moment!

This is the day,

When I send all my doubts and demons

On their way!

Every endeavor,

I have made – ever –

Is coming into play,

It’s here and now – today!

This is the moment,

This is the time,

When the momentum and the moment

Are in rhyme!

It’s an inspirational song about seizing the moment and realizing that now is the time to act. I know you’re asking: What does this have to do with the mortgage space? I see my son working hard to achieve his goals, in this case getting a part in a play, and I look back at a lot of the lenders active today and I ask myself: Why aren’t they doing the same?

Back when Fannie Mae published its electronic mortgage specifications a lot of us thought within 10, maybe 15 years, everyone would be doing e-mortgages. It hasn’t happened. Why? Because lenders are reactive and in most cases resistant to change. In this month’s Lending Laughs Cartoon you see a lender being dragged into automating. The statement made by the cartoon is sad, but true.

Most of us expected lenders to move on their own toward a more automated process because of the clear business benefits, but sadly that is not what happened. Now because of government mandates and a barrage of new rules, more and more lenders are realizing that they have to automate in order to just maintain compliance and still be profitable. As the song and the title of this article suggest, I guess now is the moment. Personally, I just think that it’s sad that the government had to intervene to get the industry to act.

About The Author


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