The disruption of the mortgage industry has begun
When Clayton Christensen wrote his 1995 article, Disruptive Technologies, he probably had no idea that it would lead to executives working in every industry looking over their shoulders for the big idea that would disrupt their businesses. Of course, he was writing about the technology business, which has been my home since 1999. He was right about the disruption new technologies would bring to our lives. And his readers were right to be watching their backs. Sooner or later, every industry gets disrupted.
For the past decade or so, executives in the mortgage industry have been looking at new mortgage technologies as the source of our coming disruption, first from companies operating within our space, like the one I founded, and later to fintech firms eager to cash in on a business that had avoided change for too long. While we were watching mortgage tech’s shiny new objects, disruption caught us by surprise.
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