"Many of our systems were never designed with data transparency or real-time automation in mind some servicing platforms even predate the invention of Excel. When I started in the mortgage industry in the 1990s, data management remained largely manual we were still using paper ledgers and basic spreadsheets. Excel began gaining traction as companies transitioned from DOS-based to Windows-based systems. At the time, it was revolutionary, giving us far more capability and flexibility than we'd ever had before."
"These practices became a natural way of working and eventually turned into part of the very culture of investor reporting. Fast forward 15 to 20 years, and many of the same people who relied on those methods are now industry leaders who've passed that knowledge and mindset to the next generation, ensuring that spreadsheets remain embedded in our operational DNA. There's also an element of trust in play. People feel more comfortable with what they can see and verify, even if it's inefficient. A spreadsheet, after all, gives users full visibility into their data. But that transparency can be deceptive."
In the 1990s, mortgage industry data management remained largely manual, relying on paper ledgers and basic spreadsheets. Excel adoption during the shift from DOS to Windows enabled automation and flexibility that became embedded across departments. Spreadsheet-based methods became cultural norms as experienced practitioners transmitted those practices and mindsets to new leaders, keeping spreadsheets central in investor reporting operations. Many servicing platforms were not designed for data transparency or real-time automation, reinforcing manual workflows. Visible spreadsheets create comfort and perceived verifiability, but complexity and small formula errors can scale into costly operational failures.
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