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Nelson Mandela once said, "Everyone can rise above their circumstances
and achieve success if they are dedicated and passionate about what they
do." Who can argue with someone who went from spending 28 years in
prison to becoming president of South Africa? And yet, mortgage industry
leaders would be wise to heed such advice in 2022, as the potential for risk
lurks in all directions.
With a historic refinance wave fading in
the rear-view mirror, lenders are now focusing
on selling purchase loans, including non-QM
products, which require stronger underwriting.
Servicers still need to help hundreds of
thousands of homeowners who haven't fully
recovered financially from the pandemic and
require loss mitigation options. And everyone is
under the increasing glare of federal regulators
as Washington sharpens its focus on the
housing industry.
In other words, 2022 may go down as one
of the most complex and risk-intensive housing
markets in history. ere will be plenty of
winners, of course, assuming they can avoid the
many obstacles in their path. But that won't be
easy.
RISK IS EVERYWHERE
By far the biggest source of risk facing the
market is the ending of the extended refi party
Feature By: Patrick Gluesing
HOW TO RISE
ABOVE FUTURE
MORTGAGE RISKS
2022 may go down as one of the most complex and risk-intensive housing markets
in history. Here's how to prepare.
