SitusAMC Releases "On the Hill" Podcast Episode Featuring Wes Iseley, Senior Managing Director of Carrington Holding Company
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New York, NY – SitusAMC is pleased to announce the release of the latest episode of "On The Hill," a podcast series hosted by Tim Rood, SitusAMC's Head of Government and Industry Relations. He speaks with Wes Iseley, Senior Managing Director, Carrington Holding Company, about his 40-year career in the mortgage industry. They discuss Iseley's journey from his Kentucky childhood to his current position leading a Top 10 GNMA Seller-Servicer-Issuer and one of largest U.S. non-bank lenders and servicers.
Rood and Iseley dive into the factors affecting the mortgage market, including interest rates hikes and the risk of recession. Despite recent headwinds, Iseley said he does not anticipate widespread defaults similar to what occurred during the Global Financial Crisis.
"If you look back at 2008 and the state of the servicing industry then and now, it's two different worlds," Iseley explained. "Credit quality is the highest I've ever seen. I don't think that you're going to see the wave of foreclosures everybody predicted because of the amount of equity. The 2022 (mortgage originations) might be a little more challenging. But I think we're going to have a little bit of a softer landing than some people are predicting."
In addition, Rood and Iseley discuss:
how forbearance under the CARES Act during the Covid-19 pandemic presented the most intense test of servicers' agility and ingenuity in decades;
the Federal Housing Administration’s proposal to allow servicers to use the FHA partial claim to bring a borrower’s home loan current and reduce their monthly payments for a period of three to five years;
Iseley's 2022 Five Star Lifetime Achievement Award honoring his four decades in the industry, and how he got the nickname the "honey badger" in reference to his leadership style, among other topics.
"You need to be tenacious and focused and stay on track," Iseley replied. "Everybody gets kind of upset about the small things, but the small things will go away. Focus on the mission and what you're trying to accomplish. If you keep people focused and communicate that vision, that's how you get ahead. The whole thing comes with trust -- your trust in your people, their trust in you."
"On the Hill" is SitusAMC's bi-monthly podcast series featuring policymakers, economists and other experts discussing hot topics and agendas coming out of Washington, D.C., and their implications for housing and housing finance. Previous guests have included former FDIC Chair Sheila Bair; former FHFA Director Mark Calabria; Kristy Fercho, Head of Wells Fargo Home Lending and MBA Chair; former CFPB Director Kathleen Kraninger; Craig Phillips, former Counselor to the U.S. Treasury Secretary; and Economist Mark Zandi, among others.
Listen to the episode here.
The release of this podcast report underscores SitusAMC’s commitment to powering the lifecycle of real estate finance. The analysis and insights provided in this podcast are invaluable to those seeking to stay informed and competitive in today's fast-paced business environment.
Listen to the podcast here.
SitusAMC (www.situsamc.com) is a leading independent provider of technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries. The company helps clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire lifecycle of their global real estate activity.
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