Fast Forward: A Sneak Peak into 2012

Tradeshow season has come to a close, and I, for one, am walking into 2012 with an insider look at the direction of the mortgage industry. The MBA Annual hosted in Chicago offered great insight into the trends going into the New Year and particularly what I will be watching. For starters, I noticed a lack of clear direction in the industry as a whole. As everyone slowly digs themselves out from under the collapse, overlooked issues are resurfacing and taking new precedence. Many financial institutions are walking on very thin ice due to their lack of business continuity, and the immense regulations continuously being put in place are still being brushed off. Instead of waiting until you are held accountable, take the competitive advantage and streamline your business processes for increased compliance and reduced risk. This, of course, should not come as a revelation to anyone. It is, however, meant to be taken as a warning. Proceed with caution; do not permit complacency or there will be consequences!

On a more positive note, many other trends leading into the New Year are hopeful signs of things to come. More depository institutions are forming relationships with mortgage companies, forging new business opportunities and ensuring greater strength and growth. In addition, despite signs that correspondent lending is losing steam, the companies that approached me about leveraging the Mortgage Cadence platform for just this purpose at the MBA Annual point in the opposite direction. With many large companies exiting the space, the smaller players are taking advantage of this great opportunity to get in the door and have put correspondent lending back on their radar. Finally, Wall Street is on its way back – with some trepidation, of course. The collapse, coupled with the present media concerns stimulated by the Occupy Wall Street movement, is influencing Wall Street to proceed with caution as they work toward re-establishing mortgage origination channels and relationships. In the end, all of these new developments lead me to believe that we are headed in the right direction going into 2012 and there is great opportunity around the corner. Even if the recession is not over, the mortgage industry is continuing to move more assuredly forward than we have seen in years. Make sure you are on the front of this wave and gain the momentum that will lead to success.