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Article: The fax of mortgage lending. (fax machine)
- Article from:
- Mortgage Banking
- Article date:
- March 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mortgage lenders have take to the fax machine like ducks to water. The fax has attained an exalted place in the pantheon of office products, and mortgage lenders are among its most ardent admirers.
A TECHNOLOGY REVOLUTION HAS BEEN TAKING place in business that offers enormous benefits to mortgage companies. The introduction of fax machines in the 1980s put business in a new time zone. The speed of transactions in the marketplace was pushed ahead by several multiples with the arrival of the fax in the business office.
This change has amounted to a quiet revolution in the mortgage marketplace, as new applications are developed that piggyback on this new ...