Measuring the impact of the coronavirus on the mortgage industry
Everyone – borrowers, lenders, servicers, and consultants – connected in any way to the mortgage industry is looking for information about how the coronavirus and Covid-19 has impacted, is impacting, and will continue to impact this key pillar of the global economy.
Saxony's Financial Services team recently convened a panel of experts from around the mortgage industry (via Zoom, because...social distancing) to discuss those impacts.
- Angel Armendariz – Director of Financial Services for Saxony Partners
- Christy Soukhamneut – SVP, Chief of Staff, Director of Mortgage Strategic Initiatives for Flagstar Bank
- Don Jarrett – VP of Strategic Operations for Supreme Lending
- Jen Smith – SVP of Enterprise Initiative Planning and Execution for Gateway First Bank
We're presenting this interview in three ways, depending on your own bandwidth.
Want to listen to the entire interview as a podcast? Check out the Soundcloud link below. (Time – 44:36)
Videos by topic
The interview features questions organized into three broad topics: current, personal, and future impacts of the pandemic on the mortgage industry. Here are each of those topics:
- How coronavirus is impacting the mortgage industry as a whole (15:35)
- How coronavirus is impacting your organization, specifically (13:12)
- Coronavirus and its likely future impacts on the mortgage industry (17:31)
Videos by question
Finally, we broke each question out into its own video.
- How is the morale within the industry right now? (4:28)
- What are lenders primarily focused on at the present? (2:21)
- How are you adapting to e-commerce/digital initiatives in light of social distancing? (4:57)
- What is the industry most concerned about right now? (3:47)
- What has been the biggest surprise from the impact of the coronavirus within your organization? (4:39)
- What were you best/least prepared for? (3:32)
- How has access or lack of access to data impacted decision making during this time? (3:13)
- What's your playbook for getting through this? Is there a playbook? (4:26)
- What are some of the long-term effects you see coming out of this pandemic? (5:37)
- What does near-term success look like for your mortgage firm? (1:40)
- What does the future hold for mortgage firms during and after coronavirus? (2:25)
- What would your firm have done differently ahead of the pandemic? (3:18)
Connect with Saxony
The coronavirus pandemic is having a significant impact on the mortgage industry worldwide. The near-term focus, according to our clients, is on keeping current projects in-flight, reacting to market concerns, and navigating resource and bandwidth crunches. If that sounds like you, you're in good company.
Our team is shifting focus toward helping clients meet those challenges. Reach out to Angel Armendariz if you'd like to chat.