Though the presidential conventions are still a year away, the nation is already getting its first glimpse of the Democratic contenders as they face off in their first debates on NBC. Interest rates are falling, and some two million mortgages are primed for refinance — yet the affordable housing market is ailing. As the primary season starts for the Democrats and the Trump administration digs in to GSE reform, here’s an initial take on where things stand.
The mortgage industry learned some valuable and painful lessons from the financial crisis of 2008. First, we learned humility. Then, we began to concentrate on areas of improvement to begin repairing a severely deteriorated mortgage origination process. Along the way, we’ve learned to embrace change, improve our consumer communications, repair and re-earn the respect of key stakeholders and focus on a better path forward with modern technologies and advanced data assets.