Y2k : effects on non Y2k related stocks Message Board

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Technology Stocks : Y2k : effects on non Y2k related stocks

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To: John Mansfield who wrote (17)	6/21/1998 9:26:00 AM
From: John Mansfield	Read Replies (2) of 54

Read somewhere that Medicare writes about 1,000,000,000 checks each year... I hope they do not think of similar contingency planning ... 'In the worst-case scenario for buyers, all of the paperwork can be done by hand, said Jim Horne, director of technology initiatives at the Mortgage Bankers Association of America. If a bank's system does go down, Horne said, "we can still take a loan by hand, process it over the phone . . . underwrite it by hand and type the closing documents on a typewriter." It will, however, be slower and costlier for the lender, and these costs may be passed on to consumers. .... washingtonpost.com

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