Aite Group reports on commercial mortgage technologiesMortgagePress.comCommercial mortgage software solutions In a new report, "Commercial Mortgage Technologies: Automating a Non-Standardized Process," Aite Group examined the challenges faced by the United States commercial mortgage industry and how technology can address these challenges. The report concluded that the industry is severely under-utilizing technology. As many as 75 percent of commercial mortgage lenders are still using home-grown proprietary solutions, and almost 75 percent continue to rely on Microsoft Excel spreadsheets for sophisticated modeling and cash flow forecasts. Complex transaction structures and a lack of standardization have slowed down the adoption of technology by the commercial mortgage industry. New market dynamics, however, are driving change. "Factors such as increased competition and a greater demand for commercial mortgage-backed securities are driving the industry toward greater use of technology," noted Christine Barry, research director with Aite Group and author of the report. "Today's solutions not only create central repositories and eliminate manual and costly processes, but they also enable lenders to quickly and accurately generate documents for sale in the secondary market." Aite Group forecasts that by 2008, U.S. commercial mortgage lenders will spend more than $186 million on third-party vendor solutions and enhancements (not including servicing technologies) as origination growth and demand for this type of debt increases. For more information, visit www.aitegroup.com.