Servicing Platforms to Remain Stagnant for 10 Years
August 11, 2006
Servicing is the next profit center for the mortgage industry, according to an industry think tank. However, servicers already unhappy with their current platforms could be stuck with the same technology for another 10 years. The Council to Shape Change, a group handpicked by Mortgage Bankers Association Chairman Regina Lowrie, predicts that upgrading outdated servicing systems will be too risky. Instead, new systems will be built for new mortgage...