In the last decade, the mortgage industry has experienced an enduring series of setbacks. The extent to which it has improved since the housing crisis is still up for debate. Heavy regulation has made it difficult for many organizations to remain competitive. Now, as we usher in a new Presidential administration, there is a great deal of uncertainty in the air. Is it going to get better, or is it going to get worse? What does a President Trump mean for the mortgage industry?
Throughout the financial crisis, the organizations who have remained competitive in the industry have been those who have proved to be the most adaptable. Organizations that get stuck in a set way of doing things become complacent and, when change inevitably occurs, they can’t quite react. On the other hand, the nimble organizations have been able to persevere through the crisis to come out stronger.
Like everyone else, I don’t know what’s going to happen in this administration. I’m not sure what the effects will be on the mortgage industry. I can’t predict the future. That being said, I feel confident in predicting the kinds of organizations that will withstand whatever changes we encounter. The organizations that are quick to adapt will be the only ones resilient enough to persevere through difficult times. When the smoke clears, those are the ones we will see still standing.
As leaders in the mortgage industry, we need to remain nimble. We need to be flexible–able to adapt quickly to whatever comes our way. I am confident the industry will remain strong, because I know we have a great deal of leaders who simply won’t give up no matter what comes their way…