Entries by Tony Garritano

Market Analysis: Kudos To A Real Thinker

*Kudos To A Real Thinker*
**By Tony Garritano**

***I’ve had the great pleasure of knowing a lot of people in this space. I’ve made lasting friendships. I have a lot of respect for the visionaries in this space. One of those people is Liz Green. She’s spirited. She’s knowledgeable. She’s passionate. And when the appraisal group within MISMO needed a leader she stood up. So, when I found out about what she’s up to now I had to share it with you. 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: Leveraging A True Technology Leader

*Leveraging A True Technology Leader*
**By Tony Garritano**

***Some think being innovative means that you completely reinvent the wheel. I’m here to tell you that’s not the case. Some profound innovations drew from and improved on existing technology in a new way. What do I mean? For example, PROGRESS in Lending has learned that Coester Appraisal Group, a nationwide provider of appraisal management technology and services, has launched Cloud Control, a revolutionary new appraisal management technology. Cloud Control is appraisal management software built on the award-wining platform of Salesforce.com, which Forbes magazine designated as the most innovative company in the world in July 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: The LOS Saga

*The LOS Saga*
**By Tony Garritano**

***It always seems to me like there are too many loan origination systems to choose from. How do they all survive? In the end, I guess, they all have their unique strengths and weaknesses. To this end, PROGRESS learned a few months back of a new entrant that hopes to put their spin on this already crowded space. Now they’re staffing up to try and take the market by storm. Here’s the full 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: Here’s Why Technology Matters

*Here’s Why Technology Matters*
**By Tony Garritano**

***Too often technology is dismissed. While others may think a provocative headline constitutes sexy and breaking news, I think a sexy headline is all about showing the real value of technology so lenders reading this column can share in that success. Nonetheless, some lenders say things like: “That’s too futuristic for me”. “That technology is too new and untested”. “I can’t invest in any technology unless it has a clear return on investment”. While some lenders reflect this view, others are investing in technology and reaping the benefits. One huge benefit that technology can bring a lender, beyond the obvious ironclad compliance, hard savings and efficiency, is intangible. What am I talking about? I’m talking about using technology to create a genuinely better experience for the borrower. Customer service matters. For example, PROGRESS in Lending has learned that Supreme Lending, a Dallas-based nationwide mortgage banker with branches throughout the U.S., reports that it has achieved a 98% satisfaction rating among its borrower customers during the second half of 2011, according to a customer survey completed by 86% of its customers. Here’s how Supreme achieved these numbers:

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: You Have To Be Relevant

*You Have To Be Relevant*
**By Tony Garritano**

***As I always say, cool technology for the sake of having cool technology is not a winning strategy. You have to invest in cool technology that solves a real issue that your business faces. The technology has to be relevant to you. As we talk more and more about foreclosures and defaults, the topic of short sales keeps coming up. I think any technology to make short sales easier is very relevant, which is why when I heard about what Wingspan Portfolio Advisors is doing, I was compelled to tell you about it. They’re staying ahead of the curve and really trying to address the issue of doing more timely short sales. Here’s what this specialty servicer is up to:

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: Searching For Something New

*Longing For Something New*
**By Tony Garritano**

***Everyone knows that I’m a political junkie and last night was Super Tuesday, so I can’t resist. As compared to past cycles, this Super Tuesday had far fewer contests and proportional delegate allotment, which made it hard for any one candidate to score a slam dunk. At this point, based on the delegate count, Romney seems to be a lock. If it stays a four-person race that helps Romney because the conservative vote is split. In a four-person race the other guys can’t get the delegates needed to win, but they can stop Romney from getting to the delegates he needs to win. So do they stay in and possibly act as spoilers or graciously bow out? These are politicians we’re talking about, you bet they’re going to stay in. So, the contest goes on and we’ll be treated with more negative campaigning and stupid gaffes that the media overblows because they want something to cover. As we go through this long process I’m longing for something new and different. I don’t think I’ll find that new and different thing that I’m searching for in politics, but there is something new and different that caught my eye this morning when it comes to the world of mortgage automation. Here’s what I mean:

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 Industry Vet Resurfaces

*An Industry Vet Resurfaces*
**By Tony Garritano**

***I’ve been in this industry for over 10 years now, with a focus on mortgage technology for eight of those years. In that time I have had the great pleasure of making lifelong friends. For me, this is all about the people. That’s what makes the mortgage industry so special. One such person that I got to know was Phil Huff. I wouldn’t say that we were friends, but I certainly respected him. One time he invited me to a baseball game and I almost ended up getting arrested, but that’s another story entirely. So, I was delighted to hear this morning that he’s back in the space. Here’s what he’s up to now:

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: WOW, Just WOW

*WOW, Just WOW*
**By Tony Garritano**

***We started promoting our Innovations 2011 Industry Recognition Ceremony just 48 hours ago. For us this program is a big deal. Our mission is to help the mortgage industry in any way we can to succeed. I’m a firm believer that innovation is a critical component to ensuring that success. We hope that by recognizing true innovation we’ll encourage others to innovate. We want to make this space better. And based on early response to this year’s celebration, we can see that you agree. Check this out:

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: Keeping An Eye Out For Success

*Keeping An Eye Out For Success*
**By Tony Garritano**

***We talk too much in our industry about gloom and doom. I know, we have a lot to be gloomy about, but still. My two sons are now taking piano lessons. When I hear them playing I’m so proud. Talent and success is infectious. And of course every parent is proud of their children, but let’s put that aside for a bit. Even when it comes to business, when you see a success in the works you can’t help but smile and maybe take some things away from that story to help your business grow. Here are two such success stories:

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: A New Default Servicing Compliance Tool Emerges

*A New Default Servicing Compliance Tool Emerges*
**By Tony Garritano**

***Yesterday I talked about a visionary way to deal with foreclosures. Today I want to continue that conversation, only from a technology point of view. There are a lot of new technology solutions coming out to help servicers better handle defaults. For example, PROPGRESS in Lending has learned that Decision Ready, a provider of default servicing compliance solutions, has launched RADAR, a technology for the disposition of defaulted mortgage assets. RADAR provides a holistic toolkit to manage loan sales and transfers, as well as REO disposition. 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.