This is a 16 page PowerPoint with 22 charts and tables related to technology spending for the loan origination process, lender and mortgage application adoption rates
MBA began conducting semi-annual technology surveys for its member companies in 2017. The surveys are designed to be completed by the Chief Information Officers or designates of lending and servicing institutions and discussed at periodic CIO forums.
For this mid-year 2018 survey focusing on loan origination technology spending and usage, MBA joined forces with Celent, a research, advisory, and consulting firm focused on financial services technology. Celent is an MBA associate member and part of the Oliver Wyman Group, a wholly owned operating unit of Marsh & McLennan Companies.
Some notes on the survey:
oIncludes spending priorities for six areas in the loan origination process: 1) sales/application; 2) fulfillment; 3) core origination and secondary functions; 4) digital imaging/enterprise content management; 5) closing; and 6) emerging technologies such as robotics and blockchain.
oExcludes other spending priorities for infrastructure, data security, network administration, servicing, etc.
oTech spending was defined based on cash outlays. Increases and decreases in tech spending levels were defined as a percentage of change from 2017 actual to 2018 budget.