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55 August 2024 August 2024 » E X P E R T I N S I G H T S research. One thing we are doing for our residents is called Project Uplift. If you rent a single-family home that we own and operate for four years, at the end of those four years, you may have access to enough money to make up a down- payment on a new home. It's part of our commitment to home ownership and to partnering with our residents for their flourishing. And, keep in mind that while a 7% interest rate may seem high, your interest rate is 100% when you are renting. Q: What course do you feel rates will take for the remainder of 2024? Tony Julianelle: Right now, it seems the market has priced in a rate cut in September as fairly certain … but that still feels optimistic to me. We need to see a little more data on inflation cooling and of course, the election will play a crucial role in economic policy through the rest of 2024. We try to keep it simple in our organization and make decisions about what is true now, not what we hope will be true at some point in the future. Q: Do you see a shift in housing policies come November based on the outcome of the Presidential Elections? Tony Julianelle: This seems unlikely. If there is a divided government, which seems likely one way or another, then typically the status quo carries on. There is a lot of bluster in an election year, like the recent proposal to cap rent increases in some circumstances through federal legislation. I do not see this getting any traction in reality. I would like to see some additional incentives around home ownership in the tax code, and I see this as the most likely outcome. Q: What tools do you feel a mortgage professional needs in order to survive and thrive in today's marketplace? Tony Julianelle: Mortgage tools have become commodities—easy to get, and everyone has them. The key to success in the mortgage business is just two things—get up each day, and do the same things over and over again. Consistent execution of whatever your plan is will drive results. And, always say what you mean and do what you say. Never make a promise you cannot actually cause to occur. Your reputation is all you have, so treat it like your most valuable asset. Q: What advice would you give to anyone looking to break into the mortgage finance industry today? Tony Julianelle: Start out on the fulfillment side of the business. The best loan originators I have seen in my career are not just salespeople … they know the process in and out because they have done it. Get a job as a processor, move up to a closer, and then, if you can, do some underwriting. Commit a year or two to this before you make the leap to origi- nating loans. Become a student of the business, and actually know what you are doing. You cannot afford not to. And, find a great mentor … my early mentors made all of the difference for me.