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How coronavirus is already threatening the housing market
[Market Watch] As the coronavirus pandemic threatens financial markets and sends the U.S. economy into a potential recession, those of us who lead mortgage firms must take swift action to prepare for the worst. The last time the financial markets suffered such a precipitous drop was during the 2008 Great Financial Crisis.I was CEO of CitiMortgage during and after that crisis and saw firsthand how the housing market became paralyzed. I’m now CEO of the nation’s third-largest housing specialty lender (HSL), and I’m applying some of the lessons that I learned from the last crisis. Here is what we in the mortgage industry should consider doing immediately: Posted by: Besoeker 2020-03-19 |
| http://www.rantburg.com/poparticle.php?ID=566366 |