I don’t have to remind anyone in the mortgage industry that our business landscape has been fundamentally transformed since the financial crisis. The challenges that lenders overcame in recent years to restore stability to the housing finance system created additional complexity that has changed how we do business. That’s why I was so pleased to have the opportunity to write the opening chapter of The Mortgage Professional’s Handbook, the first comprehensive multi-volume resource since the meltdown on every aspect of the mortgage business.
Written by leaders from a variety of areas of housing finance including production, secondary marketing, operations, compliance, technology, and finance professionals, anyone who wants to learn more about mortgage banking will find this an invaluable resource. Mortgage bankers and mortgage brokers from large banks, community banks, and credit unions can all rely on this handbook as a definitive guide to the new realities of mortgage lending in this post-crisis world.
My contribution, Tipping Points: Lessons Learned from the Mortgage Meltdown, helps set the stage for the handbook’s overview of the changes in our industry. In it, I recount the lessons the administration and housing finance professionals learned as we worked together to stabilize the housing finance system in the aftermath of the 2008 financial meltdown. It’s a reminder of just how important it is for MBA members to stay engaged with policymakers to make our voice heard so that we can reduce barriers to our customers’ ability to access affordable housing finance.
In addition to being an invaluable resource for those of us in the mortgage industry, all proceeds from MBA’s sales of the handbook will benefit MBA’s Opens Doors Foundation. This initiative makes mortgage and rental assistance payment grants to parents and guardians with critically ill or injured children, allowing them to take unpaid leave from work and spend precious time together without jeopardizing their cherished homes. I encourage you to learn more about our foundation by watching testimonials from a few of the 395 families who have been helped so far.
With all the changes our industry has faced in recent years, I was proud to be a part of this project and help to create a definitive resource for the new face of mortgage lending. And through your purchase of the handbook, you can be proud of the part you played in helping families with sick children stay in their homes.