Lenders are feeling the pinch. According to the new MORTECH 2007 study, technology spending is about to swoon, and maybe enter a multi-year recession. Spending in 2008 will be trimmed as much as 10% from 2007. Technology vendors will not escape the decimation of the lending market. The consensus of forecasts is that the growth in global technology spending will slow in 2008. With sales revenues projected to decline, technology vendors are facing excess capacity and intensified competition. Most mortgage application vendors are relatively small -- producing less than $40 million in annual revenues, and staffed with 200 employees or fewer. The vendors always have choices about how they run their businesses. Charting the matrix of possibilities in advance of events, however, is a natural antidote to the poisonous venom of a bad market -- like the one the vendors have been facing since the middle of 2007.