Author: David

This piece originally appeared in the April 2023 edition of MortgagePoint magazine, online now. Julia R. Gordon has served as the Assistant Secretary for Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD) since being confirmed by the U.S. Senate in May 2022. She came into the role at a time when the housing market and larger economy were still navigating aftershocks from a global health crisis, while at the same time, low interest rates were fueling the market. For a long-time industry professional whose official bio describes her as “a strong advocate for and hands-on practitioner working to achieve equal justice, fairness and equity in housing, and consumer protections,” there were challenges to face, certainly, but also opportunities for her to lean into the kind of meaningful work that has defined the arc of her career thus far. In her role at HUD and the Federal Housing Administration (FHA), Gordon helps oversee HUD’s operations supporting homebuyers, homeowners, renters, and communities alike. She is responsible for FHA’s Single-Family, Multifamily, and Healthcare mortgage insurance programs, which together encompass more than 7.5 million homeowners, some 1.4 million rental households, and thousands of hospitals and residential care facilities. She also oversees HUD’s Multifamily assisted housing portfolio, which serves more than 1.2 million low-income households. Having begun her career as an attorney, Gordon’s path to her current role took her through work with organizations such as the National Community Stabilization Trust (NCST), the Center for American Progress, the Center for Responsible Lending, and the Federal Housing Finance Agency (FHFA). Across these roles, she has been closely involved in grassroots efforts to shape mortgage and housing finance laws, regulations, and programs to protect homeownership and family wealth, including the Dodd-Frank Wall Street Reform Act and the Making Home Affordable program. For our debut issue...

With roots deep in the real estate market, born during the housing boom beginning in the early 2000s and coming of age during the SFR (single-family rental) Industry Institutionalization of 2013, TalentWoo is a boutique real estate executive search and recruitment process outsourcing (RPO) company. TalentWoo CEO Jerel Cain recently spoke with MReport about how the mortgage industry talent and recruiting landscape is evolving amid a landscape where companies are navigating inflation, a retreat from the housing and refi boom of last year, and other challenges. What is the current climate like for recruiting talent in today’s mortgage market? What challenges are lenders facing that will have an impact on recruitment? Cain: Uncertainty is the biggest challenge lenders face. The talent market is always changing, and because the housing market is such a dynamic environment, today’s candidates have a lot of doubts about their future. Professionals are less likely to consider changing jobs in an uncertain market if they feel they are “okay” where they are. At the same time, when candidates are uncertain about their current job or have a limited view of their career path, they are often open to discussing a change. This presents an excellent opportunity for lenders who have a strong message for these candidates. Companies that demonstrate their stability as an organization, a clear path forward for themselves, and a career vision for the candidate will stand out in the current market. Are you finding most talent to recruit for mortgage servicing jobs from within the mortgage industry or from other industries? Do they require a financial background for recruitment into the mortgage industry? Cain: Naturally, we target and pursue candidates who are actively working within the industry, as we believe this creates the strongest candidate base. But we look outside of the industry, too. Quite frankly, there are generally more...

As the restfulness of the holidays slips into the rearview mirror and the mortgage industry returns to face the turmoil, surprises, and victories of a new year. While the housing landscape is, for the most part, no longer under the ponderous shadow of a global health crisis, there are plenty of challenges to be navigated. The Fed’s ongoing efforts to combat inflation have driven interest rates to highs not seen in years, flipping the homebuying frenzy of last year on its head even as many companies are forced to adjust their workforces in the shadow of a possible looming recession. If the past decade has taught us anything, it’s that even the wisest among us don’t possess a crystal ball capable of prognosticating what the months ahead will bring. But all that said, the final days of a waning year and the first days of a new one are traditionally times to pause and reflect; to celebrate victories won, internalize the lessons of goals not achieved, and formulate a plan to move forward. In that spirit, for our January edition, DS News spoke with a cross-section of industry executives (including Five Star’s Editorial Advisory Board) about their 2022 victories and biggest 2023 challenges—and how they’re working to surmount them. Read on for insights from representatives of BOK Financial, Carrington Mortgage Services, Chase Home Lending, Fannie Mae, Planet Home Lending, and U.S. Bank. Samantha Manfer Chief Business Development and Brand Officer, Planet Home Lending What are the biggest challenges you are trying to solve for in 2023? How are you working to surmount those challenges? Challenge #1 - As we head into a recessionary economy, delinquency and default rates may rise for non-QM, Debt Service Coverage Ratio (DSCR), and residential transition loans (RTL or fix-and-flip). Each non-QM, DSCR, and RTL investor must create loss mitigation policies...