Mortgage Banking's group of information technology (IT) All-Stars this year has given the industry lasting gifts from their work in furthering mortgage technology. Some have done so over decades-long careers in mortgage technology, while others are newcomers to the industry. All deserve recognition and thanks for their work in advancing the cause of connectivity among systems and for moving the mortgage market ever closer to a truly paperless transaction. [??] This year Mortgage Banking decided to create two special categories in honoring the contributions of mortgage technologists. The first category is for people being singled out for their whole career's accomplishments in the field of advancing mortgage technology. The second category is for IT professionals who made significant contributions during 2006. [??] We found many of our All-Stars had something in common. More than a few have labored hard to make the goal of uniform industry data standards a working reality through the MISMO[R] organization. Seven years after it began, MISMO is closer than ever to reaching its goal of bringing eCommerce to the mortgage industry, with companies across the mortgage spectrum implementing the standards in countless applications. [??] That the task of creating a common language for electronic communication in the residential and commercial mortgage markets is this far along is a testament to the hard work of many dedicated people who've volunteered their time and energy to the work of MISMO.
Career Contributions -- IT All-Stars
Chief Executive Officer
The good thing about being the youngest chief information officer (CIO) of a top-10 mortgage lender is that you don't know what your limits are. That's the way Bill Adamowski, now chief executive officer (CEO) of MortgageHub, explains his success at keeping companies at the leading edge of new technology.
As a twentysomething consultant in the 1990s, Adamowski worked on tech strategies for a large number of financial institutions, as well as big-name corporations including UPS and Nissan Motors. So perhaps it was just a matter of time before someone persuaded him to stay on and implement one of his plans. That's how, at 29, he landed the job as CIO of GMAC Mortgage LLC, Horsham, Pennsylvania.
Adamowski's strategy sounds simple: If you want to be looked at as a leader, do innovative things. Things such as being the first lender to use Novell[R] Netware[R] 4.0 and becoming an alpha site for Microsoft[R]'s Windows 95[R], or creating a frame relay wide area network (WAN) back when everyone else was still connecting branches via dial-up.
One of his claims to cutting-edge fame was creating what's believed by some to be the first mortgage banking Web site.
Rather than thinking of the Internet as a way to reach consumers, Adamowski saw it as a way to help salespeople reach Realtors[R]. That first GMAC Web site was such a novelty, that other techies were probably the only ones who had access to the homes and land listings the site featured courtesy of a local real estate magazine.
He went on to Wells Fargo Home Mortgage (formerly Nor-west Mortgage), where the Internet continued to be a big part of his technology strategy. He created the company's first Java[TM]-based system, replaced the origination system and became a pioneer in Web services and service-oriented architecture (SOA)--some of the industry's biggest tech buzzwords.
Today he's returned to his roots as CEO of MortgageHub, a software product, consulting and business process outsourcing firm, where he is continuing to push leading-edge technologies with clients such as Charlotte, North Carolina-based Bank of America and Wachovia Corporation.
When he's not at work, Adamowski likes …