“The Best of Times or the Worst of Times?”
Tuesday, June 25, 2024 at 1 pm CST
Session Description
A quick glance at economic indicators may tell the casual observer that the United States isn’t doing half bad when meeting its financial goals. The GDP has increased by 1.9% in 2022, and another 2.5% in 2023. Year-over-year inflation – the rate at which consumer prices increase – was 3.1% in January 2023, and the Federal Reserve raised interest rates 11 times in 2022 and four times in 2023. Although the country occasionally flirted with recession, it wasn’t a serious romance, especially since Americans’ average hourly earnings are 22% higher than before the pandemic.
So why is everything so uncertain, from mortgage rates to housing supply, from borrower capacity to a stable but stagnant prime rate? Why do so many of us feel we need to take out a HELOC just to purchase a Big Mac and fries? Maybe author Charles Dickens said it best:
“It was the best of times; it was the worst of times; it was the age of wisdom; it was the age of foolishness; it was the spring of hope; it was the winter of despair,” and on and on. Dickens may have been talking about the French Revolution, but conditions of uncertainty, concern, and occasional despair also describe the financial services market, particularly regarding mortgage lending.
Where are rates going? What will happen to volume as we head into the summer selling season? Will there be enough homes for sale to help credit unions meet and beat their mortgage loan objectives as we round the season and head into the third quarter? Logan Mohtashami, lead analyst for HousingWire, sees the future more clearly than most. Join him and ACUMA President Peter Benjamin CMB, in the next ACUMA Fast Track webinar June 25 at 1 p.m. Central time as they decipher trends and shed light on mortgage lending’s near and distant future.
So is it the best of times or the worst of times? You may want to prepare for both.
- This session will be interactive so come with your questions.
- Open to anyone.
- Session will be recorded.
- By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.
Speakers
Logan Mohtashami
Lead Analyst, HousingWire
Logan Mohtashami is a renowned expert in the mortgage and housing ecosystem, recognized for his insightful analysis and commentary on the U.S. economy and real estate market. Mohtashami is a lead analyst for HousingWire and is a regular contributor on the HousingWire Daily podcast. With a background spanning over two decades in the mortgage industry, Mohtashami — nicknamed “The Chart Guy” — has the remarkable ability to decipher complex economic data and translate it into understandable, actionable insights. This knowledge has made Mohtashami a sought-after commentator and his expertise has been featured extensively in news outlets, including CNBC, where he is a frequent guest.
Peter J. Benjamin, CMB
President, ACUMA
Peter J. Benjamin, CMB is the President of the American Credit Union Mortgage Association (ACUMA). A mortgage professional with 20 years of experience, Benjamin has held various positions throughout the mortgage industry including Senior Vice President of Mortgage Lending for Lafayette Federal Credit Union in Rockville, MD. During his time at Lafayette Federal, Benjamin led a high-performing mortgage team that exceeded production and budget goals each year, reduced the Credit Union’s cycle times to the industry-required timeframes; and improved the credit union’s application pull-through rate. As an association, Benjamin wants to see ACUMA members continue to foster the collaborative spirit that has made the association so great and work together to support the American Dream of homeownership. He sees ACUMA as a vital education arm that helps Member Credit Unions gain market share in the mortgage industry.
Constellation Mortgage Solutions (CMS) provides industry-leading lending technology solutions through its products: Award-Winning NOVA LOS, CMS Servicing, and ReverseVision LOS. As the Gold Standard for mortgage solutions, CMS offers lenders of all sizes enterprise technology, empowering lenders on the front lines with innovative solutions designed to deliver exceptional loan quality, regulatory compliance, and drive profitability. CMS has been working for more than two decades to help credit union professionals streamline operations and close more loans faster to increase ROI. constellationsolutions.com
