Entries by Tony Garritano

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.

Market Analysis: Look At The Landscape

*Look At The Landscape*
**By Tony Garritano**

***Excuse me today my friends. I’m a bit tired. I was up until 3 a.m. waiting for the results of the Iowa Caucus. My friends know that I’m a political junkie. What happened yesterday in my view was amazing. A conservative state voted for a candidate that didn’t match their ideals absolutely. Why did they do that? Because Iowans realized that it’s not about who is the most conservative, it’s about who can save our country from the failed policies of this White House. Kudos to Iowans for reassessing the landscape and taking a second look to pick the most electable, and competent, candidate. Similarly, prominent mortgage technology vendors are always reassessing the best way to serve this ever-changing mortgage market. For example, PROGRESS in Lending has learned that Franklin, Tenn.-based Wipro Gallagher Solutions has redefined its fulfillment offerings to more clearly meet the demands of loan originators and servicers for middle- and top-tier lenders. What does that mean? 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: What’s Going To Happen In 2012?

*What’s Going To Happen In 2012?*
**By Tony Garritano**

***I know we all want to know what’s going to happen in our business this year. There are a lot of uncertainties for sure. However, we’ll face them and overcome them, I’m sure. I know that today is a light day. Everyone is just getting back over the holidays. So, I thought I’d keep it light here in my column as well by starting off 2012 with some predictions. Here goes:

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: Compliance Remains Paramount

*Compliance Remains Paramount*
**By Tony Garritano**

***Are you frazzled dealing with all the new rules and regulations? Aren’t we all? In most cases, it’s the job of your vendors to keep you compliant. And the good ones are doing just that. Fior example, PROGRESS in Lending has learned that LOS Avista Solutions has completed a direct integration to ComplianceAnalyzer, an automated compliance auditing solution from risk management solution company ComplianceEase. 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: A Time For Giving

*A Time For Giving*
**By Tony Garritano**

***This is certainly the time for giving. I challenge everyone reading this to think about how they can give back to their family, to their community, to mortgage lending. In this vein, PROGRESS in Lending has learned that to support the Marine Toys for Tots Foundation during the organization’s annual holiday collection campaign, Nationwide Title Clearing (NTC) hosted a toy drop-off at its Palm Harbor offices. This is the second year NTC has served as a collection center for Toys for Tots.

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: UCDP Integration Doesn’t Have To Be Hard

*UCDP Integration Doesn’t Have To Be Hard*
**By Tony Garritano**

***Many are worried about the new appraisal delivery transition, but it doesn’t have to be hard. Vendors and AMCs are there to help. For example, InHouse Inc., a provider of appraisal technology for banks, lenders, credit unions and other mortgage originators, is successfully integrating lenders and appraisal management companies (AMCs) to the Uniform Collateral Data Portal (UCDP) in a matter of a few weeks, and without the long term contract required by many others.

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: What Do We Really Know About Shadow Inventory?

*What Do We Really Know About Shadow Inventory?*
**By Tony Garritano**

***Estimates about how large the shadow inventory is and how long it will take to dispose of vary. What we know for sure is that the inventory is huge and it will put a crimp in industry recovery for some time. PROGRESS in Lending has learned that according to CoreLogic, the current residential shadow inventory as of October 2011 remained at 1.6 million units, representing a supply of 5 months. This was down from October 2010, when shadow inventory stood at 1.9 million units, or 7-months’ supply, but approximately the same level as reported in July 2011. Currently, the flow of new seriously delinquent loans into the shadow inventory has been offset by the roughly equal flow of distressed (short and real estate owned) sales. Here’s what else the CoreLogic research revealed:

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.