Product Type: Market Research Report
Published by: TowerGroup
Published: March 2006
Product Code: R301-848Description This TowerGroup Research Note assesses the business and technology issues driving the need for a better core loan origination system (LOS), analyzes LOS improvement strategies, discusses the leading LOS vendors, and forecasts LOS IT spending.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Core Lending Systems and Business Goals
- Technological Advances Have Caught Up with Business Needs
- Exhibit 1: Evolution of Computer Hardware, Software, and IT Architectures (1970s-2000s)
- Web Services and Service-Oriented Architecture
- Pros and Cons of SOA
- Core Lending System Replacement Options
- Reface
- Remodel
- Rip and Replace
- Business Process Outsourcing
- Web-Based Technology Increases Return and Reduces Risk of Major System Changes
- Exhibit 2: Web-Based Technology Is Reducing the Risk of Technology and Process Change (2000-06)
- How Does Lender Size Affect Core System Choice?
- Exhibit 3: US LOS IT Spending by Mortgage Lender Size and Mortgage Metric (2005)
- How Often Do Lenders Rip and Replace Core Systems?
- Core Loan Origination System Vendor Options
- Exhibit 4: Selected Loan Origination System Vendors and Their Legacy and Next Generation Systems (2006)
- Exhibit 5: US Retail LOS Vendors by Target Lender Customer Size and IT Architecture (2006)
- Exhibit 6: US Mortgage Loan Origination System IT Spending by Category (2003-07)
- Summary
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