Mortgage companies' IT spending to grow 47% in 2004

The mortgage companies on average will boost their technology capital budgets by 47% in 2004 from a year ago after a 153% annual increase in 2003. On average, total 2003 technology spending, the sum of operating expenses and capital investment, averaged $140 million per company, equivalent to 12% of each company's annual expense.

The mortgage companies on average will boost their technology capital budgets by 47% in 2004 from a year ago after a 153% annual increase in 2003. On average, total 2003 technology spending, the sum of operating expenses and capital investment, averaged $140 million per company, equivalent to 12% of each company's annual expense.