Mortgage Banker Technology Spending May Slow; Payoff Still Hard to Pin Down
September 2, 2004
Mortgage lenders appear to be demanding more of their technology investments at a time when overall spending is expected to slow down and net benefit from these projects remains hard to calculate. According to a survey of nine lenders conducted last year by the Mortgage Bankers Association, information technology operating budgets jumped 24 percent in 2003. But lenders estimated that such spending would increase 12 percent this year and rise just 3 percent in 2005.