Nowhere to Go But up (Cyberthoughts) (Conference News‪)‬

There's one thing great about being at the bottom--there really is nowhere else to go but up. That is how it felt at the Mortgage Bankers Association's (MBA's) National Technology in Mortgage Banking Conference in Chicago in April. It was perhaps MBA's smallest tech show since the early 1990s, as best as I can remember. The attitude was different at this show compared with last year's. Before, we were all wondering what the next tidal wave would be and who would survive it. The seas have calmed now. We no longer expect another big storm or more big waves. That's the good news. However, the tide is still out and everyone knows it'll be a long time before all the boats will be lifted once again. Further, as I once heard former Countrywide Financial Corporation Chief Executive Officer Angelo Mozilo say, "When the tide is out, you see who's swimming naked."