With a long and challenging summer finally in our rear-view mirror,
it’s time to look ahead to the fall.
And given that this is 2020, who knows what this fall might have in
store for us.
What we do know is what we have known since the pandemic took
hold — the housing and mortgage industries have remained strong
and profitable, and they have provided help and access to capital for
millions of families dealing with the economic difficulties which have
grown out of the pandemic.
Forecasters, including Fannie Mae Chief Economist Doug Duncan
in our cover story this month, have been raising their expectations
over the summer on just how strong originations will be in 2020. The
most recent forecasts expect overall originations to top $3 trillion, the
third-highest market level in history, with purchase originations at
their best level in nearly 15 years.
It seems incredible that in the midst of the downturn caused by the
pandemic that the industry has been able to do so much for so many –
especially with lenders also devoting time to helping small businesses
stay afloat through their work with the Paycheck Protection Program.
Although it felt like the pandemic summer of 2020 might never end, we
all got through it. Although we don’t know what will come next, what
the industry has proven time and again over the last six months is that it
will be there to provide support, aid and capital, come what may.
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