Entries by Tony Garritano

Market Analysis: You Got To Have Fun

*You Got To Have Fun*
**By Tony Garritano**

***I want to start today’s column by saying that I am not a football fan, but when I got this today I could not resist sharing it because I know a lot of people love football. Veros Real Estate Solutions (Veros), a collateral valuation technology, enterprise risk management, and predictive analytics provider, said that it can’t predict whether the New England Patriots or the New York Giants will win Super Bowl XLVI on Sunday, Feb. 5. However, its real estate market forecast tool, VeroFORECAST, can provide some insight into the housing market where the stadiums for each team resides for the coming year, ending February 1, 2012. Here’s the story:

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 tony@progressinlending.com.

Market Analysis: Judging Risk

*Judging Risk*
**By Tony Garritano**

***Lenders today are trying to be more risk averse. But is it working? CoreLogic released its fourth quarter 2011 multifamily applicant risk (MAR) analytics. The fourth quarter MAR Index value increased three points from the previous two years showing a higher renter credit quality through the end of 2011. Here’s the scoop:

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 tony@progressinlending.com.

Market Analysis: LOS Joins The Mobile Revolution

*LOS Joins The Mobile Revolution*
**By Tony Garritano**

***Those fingers are flying over mobile keyboards with people now spending, on average, 94 minutes per day using mobile applications, according to analytics firm Flurry. Meanwhile, web consumption, on both desktop and mobile devices, has started to show a slight decrease. Realizing this trend PROGRESS in Lending was the first business-to-business mortgage publishing company to expose our content as well as mortgage industry Tweets, cutting-edge white papers and prominent research reports all within a free app that you can now get on iTunes. For your convenience the app is called Progress in Lending. With the expansion of mobile technology, PROGRESS in Lending has learned of an LOS that is now joining the mobile revolution. Here’s the story:

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 tony@progressinlending.com.

Market Analysis: JP Morgan Gives Tech Vendor Cash Infusion

*JP Morgan Gives Vendor Cash Infusion*
**By Tony Garritano**

***Who said technology is a bad bet? Well, it’s not. In a down market, technology can be the differentiator needed to succeed. And I’m not the only one that feels this way. PROGRESS in Lending has learned that JP Morgan has given a prominent mortgage technology vendor a new $20 million line of credit. Here’s all the details:

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 tony@progressinlending.com.

Market Analysis: Not Everyone Is Doing Poorly

*Not Everyone Is Doing Poorly*
**By Tony Garritano**

***Tonight my older son will be performing in a school play. I love the school plays. They’re just great. As a parent you sit in the audience looking at your child shine and it’s truly amazing. So, today I’m in a great mood. As such, I want to spread that mood to you. To this end, in a departure from the usual bad news of the day, I want to be positive today. There are companies that are doing well in this environment and you can do well, too. Here are two examples of successes:

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 tony@progressinlending.com.

Market Analysis: Let’s Solve The REO Problem

*Let’s Solve The REO Problem*
**By Tony Garritano**

***We hear a lot about the REO issue these days. Let’s face it, it’s dragging our industry down. So, how do we fix this? We need more players to step up with creative solutions. For example, PROGRESS in Lending has learned that Carrington Holding Company, LLC (Carrington) has an agreement with certain investment funds managed by Oaktree Capital Management, L.P. that will fund an initial purchase of up to $450 million in distressed single family homes on a national basis. These homes will be managed as rental properties by Carrington, to meet the growing market demand for rental units, and as part of the industry’s effort to remove distressed properties from the sales inventory to help stabilize the housing market. Here’s the scoop:

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 tony@progressinlending.com.

Market Analysis: Originators Are Hurting

*Originators Are Hurting*
**By Tony Garritano**

***The current mortgage market has been unkind for sure. Originators, among others, have been hurt for sure. How much? I just got research from Hammerhouse LLC, a national recruiting and strategic growth firm for the financial services industry with mortgage sales and leadership placement at its core, that is very telling. The company released the results from its Second Annual Survey of Originator Opinions. This 14-question survey was completed by approximately 400 active mortgage loan originators and asked originators for their opinions on critical issues facing the mortgage industry and impacting their job performance. Here’s the findings:

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 tony@progressinlending.com.

Market Analysis: Security Concerns About SaaS Persist

*Security Concerns About SaaS Persist*
**By Tony Garritano**

***As lenders embrace Software as a Service, security concerns arise. Is it safe? What about how it will protect sensitive information? The truth is that SaaS is safe. As proof, there are certificates that can ensure a level of security that all lenders should ask for. For example, PROGRESS has learned that IndiSoft, a technology development firm that provides software as a service (SaaS) solutions based on a collaborative rules-based workflow platform for the financial services industry, has achieved the ISO 27001:2005 Information Security Management System Standard. Here’s the scoop on this standard certificate:

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 tony@progressinlending.com.

Market Analysis: Another Great Story

*Another Great Story*
**By Tony Garritano**

***I like to spotlight companies in our space that are giving back. I think community service is important. This time PROGRESS in Lending has learned that Ellie Mae has said that its volunteer, employee-run community outreach program, EllieCares, continued to grow stronger in 2011 and will be expanded to its regional offices in 2012. Here’s the scoop:

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 tony@progressinlending.com.

Market Analysis: An Interesting Trend

*An Interesting Trend*
**By Tony Garritano**

***People tell me a lot of things. I have a lot of close friends in this industry. And when I can I try to share it with you. Today I heard that Mortech, a mortgage technology software company specializing in solutions for mortgage bankers and secondary market teams, have identified a trend involving more mid-tier lending institutions moving into the correspondent lending channel and seeking out suitable automation to make their new divisions profitable from day one. Here’s what they are seeing:

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 tony@progressinlending.com.