From the Editor
By Jim Davis
Jim Davis is editor of Scotsman Guide Residential Edition.
Reach him at (800) 297-6030 or firstname.lastname@example.org.
The next new thing is the next new thing
Techno-optimists will tell you that technology doesn’t create problems. It solves them.
Go to YouTube and type in “Guy Throws Computer” and you can find any number of videos that suggest that
technology does indeed create some problems.
So, it’s understandable to approach with apprehension the idea that technology will be changing our
workplaces to an even greater degree than it already has.
The mortgage industry — complex, burdened by regulation and somewhat plodding —
has been insulated to a degree from a total technological overhaul.
But technological changes have been nipping the industry around the edges for
years, and the speed of it appears to be quickening. This causes uncertainty and,
with it, anxiety, especially when it comes to your livelihood.
The best way to deal with this anxiety is head on — and not to end up on one
of those YouTube videos. In this edition of Scotsman Guide, a host of authors
deal directly with the coming technological advances.
In our lead story, on Page 35, Equifax Mortgage Services’ Jennifer Henry
writes about how borrowers will be demanding changes that they’re used to
in all other aspects of their lives. She notes how even one mortgage executive
said in a survey that he can buy a $100,000 car more easily than an $80,000
United Wholesale Mortgage’s Mat Ishbia writes on Page 42 that originators should
embrace technology, because it allows them to deliver the best rates at the lowest costs
with the fastest turn times in the industry.
On Page 67, authors David Murray and Marcy Zeplin of Genworth Mortgage Insurance write about the heavy
cost of avoiding the high cost of cleaning up old data.
Patch of Land’s Robert Greenberg describes on Page 79 how the mortgage industry is just scraping the surface
when it comes to technology and how innovation and adoption will change the industry in coming years.
On Page 115, Joe Langner of Blue Sage Solutions points to the retail industry and how technology has reshaped
that space. Millennials, he argues, will demand similar changes to the mortgage industry. Still, he believes that
millennials expect and want the expertise that originators provide.
For a couple of stories off of the technology beat, check out L. Maria Vergara of NAHREP Consulting Services,
who writes on Page 122 that the best way to reach the growing Hispanic market is to understand who they are.
In addition, toward the end of the magazine, on Page 136, Mountain West Financial’s Laura Martell writes
about the value proposition of your company — what it is that you bring of value to your clients and how that’s
different from your competitors. Understanding this is key to all of your marketing efforts.
Spend some time enjoying these and other articles in this edition of Scotsman Guide.